<u>Complete Question:</u>
The mean absolute error, mean squared error, and mean absolute percentage error are all methods to measure the accuracy of a forecast. These methods measure forecast accuracy by
a. adjusting the scale of the data.
b. determining how well a particular forecasting method is able to reproduce the time series data that are already available.
c. predicting the future values and wait for a pre-defined time period to examine how accurate the predictions were.
d. using the current value to estimate how well the model generates previous values correctly.
<u>Correct Option:</u>
These methods measure forecast accuracy by determining how well a particular forecasting method is able to reproduce the time series data that are already available.
<u>Option: B</u>
<u>Explanation:</u>
The forecast reliability is the level of proximity of the quantity assertion to the real or true value of that quantity in statistics. Typically, at the time the prediction is produced, the real value can not be calculated, as the assumption involves the future.
Accurate sales forecasting is an essential resource that businesses need to have. This helps managing directors gage desire for their goods. It allows companies handle inventories better. Sales forecasting enables businesses to look into the future and schedule their movements strategically to maximize development.
The price of gummy bears rises from $2.45 to $2.85, what is the price elasticity of demand of (i) sugar-free gummy bears and of (ii) ordinary gummy bears? Use the midpoint method and specify answers to one decimal place. Be sure to use the absolute value for the elasticity of demand.
One of the indicators used in research on income levels is age. The result of research on age-earnings data is that investments in education result in higher earnings. Hence, the correct option is (D).
<h3>What is the Relationship Between Education and Earnings?</h3>
Based on the results of the research, it was found that people who have a higher level of education tend to have a higher level of income. This makes sense because, with a high level of education, a person basically has higher job opportunities. In addition, the knowledge possessed by someone with higher education allows that person to find the most appropriate solution to problems that exist in the business world.
Learn more about the relationship between employment and education at brainly.com/question/29338947
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