Which of the following methods tells whether the forecast tends to be too high or too low?
A) MAD
B) MSE
C) MAPE
D) decomposition
E) bias
E
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The decision to use overbooking will
A) lead to upset customers and a high cost of providing them space. B) lead to unutilized assets and lost revenue. C) lead to reduced profits. D) depend upon optimization to be successful.
Competitive advantage goes to the firm that maximizes the difference between the cost of producing a good and the retail price that consumers pay.
Answer the following statement true (T) or false (F)
On a teacher evaluation form students are asked to rate their professor's performance as excellent, very good, good, and poor. This is an example of the
a. ordinal scale b. ratio scale c. nominal scale d. interval scale
Just 2 months after you put money into an investment, its price falls 25%. Assuming that none of the investment fundamentals have changed, which of the following actions would evidence the greatest risk tolerance?
A. You sell to avoid further worry and buy something else. B. You do nothing and wait for the investment to come back. C. You buy more, thinking that if it was a good investment before, now it's not only good but cheap too. D. You sue your financial adviser.