Measures of Forecast Error: - Mean Absolute Deviation (MAD) Average of the absolute errors. - Mean Squared Error (MSE): Average of the squared errors. - Mean Absolute Percentage Error (MAPE): Average of the absolute percentage errors. - Trend value: Refers to the underlying direction or pattern in a time series, not a measure of error. - Moving average: A forecasting technique itself, not a measure of error. - Price fluctuation: Refers to changes in price, not a direct measure of forecast error.
Which of the following is the measure of forecast error ? - Question not attempted
Asked in Assistant Eng. (Mechanical) Competitive Examination, 2023 · Topic: Industrial Sector (Performance and Trends of Industrial Growth (Contribution to GDP, Employment, Index of Industrial Production))
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