Assume that a time-series forecast is generated for future demand and subsequently it is observed that the forecast method did not accurately predict the actual demand
Specifically, the forecast errors were found to be:
Mean absolute percent error = 10%
Cumulative sum of forecast errors = 0
Which one of the statements concerning this forecast is TRUE?
A) The forecast has no bias but has a positive standard deviation of errors.
B) The forecast has a positive bias and a standard deviation of errors equal to zero.
C) The forecast has no bias and has a standard deviation of errors equal to zero.
D) The forecast has a positive bias and a positive standard deviation of errors.
A
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A statistics professor has noted from past experience that a student who follows a program of studying two hours for each hour in class has a probability of 0.9 of getting a grade of C or better, while a student who does not follow a regular study program has a probability of 0.2 of getting a C or better. It is known that 70% of the students follow the study program. Find the probability that a student who has earned a C or better grade, followed the program.
What will be an ideal response?
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Answer the following statement true (T) or false (F)
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