One of the ways to measure the forecast accuracy for SMA\'s, WMA\'s, and Exponen
ID: 3292303 • Letter: O
Question
One of the ways to measure the forecast accuracy for SMA's, WMA's, and Exponential Smoothing, is by calculating which of the following?
Mean Square Error or Mean AbsoluteError
R-Square
Standard Error or Standard Deviation
Correlation Coefficient
P-Value
2) A decision maker has control over which of the following when making a decision?
-The payoffs for each decision alternative
-Which state of nature will happen
-Which decision alternative to choose
-The probabilities for each state of nature
-Which state of nature to chose
Explanation / Answer
1)
Mean Square Error or Mean AbsoluteError is used to measure the the forecast accuracy for SMA's, WMA's, and Exponential Smoothing
2) A decision maker has control over which of the following when making a decision
Which decision alternative to choose
all other alternatives are not in his control.
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