Problem 1 - A concert promoter is forecasting this year\'s attendance for one of

Question

Problem 1 -

A concert promoter is forecasting this year's attendance for one of his concerts based on the following historical data: YEAR ATTENDANCE Four years ago 10,000 Three years ago 12,000 Two years ago 18,000 Last year 20,000 The previous trend line had predicted 18,500 for two years ago, and 19,700 for last year. What was the mean absolute deviation (MAD) for these forecasts?

a) 100 b) 200 c) 400 d) 500 e) 800

Problem 2 -

Given the following Forecast Errors: -3, +2, 0, -2, and +2 The MAD value will be:

a) 2 b) 3 c) -1 d) 1.8 e) None of the above

Problem 3 -

Given the following Forecast Errors: -3, +2, 0, -2, and +2 The MSE value will be:

a) 21 b) 4.2 c) 3 d) 5.25 e) None of the above

Explanation / Answer

C)400

B)3

B)4.2

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.