Which of the following is not an appropriate use of forecast errors to access th

Question

Which of the following is not an appropriate use of forecast errors to access the accuracy of a particular forecasting model?

Examine a time series plot of the errors and look for a random pattern.

Examine the average absolute value of the errors.

Examine the average squared value of the errors.

Examine the average level of the errors.

None of the above.

Examine a time series plot of the errors and look for a random pattern.

Examine the average absolute value of the errors.

Examine the average squared value of the errors.

Examine the average level of the errors.

None of the above.

Explanation / Answer

The average absolute value and absolute squared values are both positive.

The correct answer is:

Examine the average level of the errors.

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