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5 - CHAPTER 20 SECTION 4-5 TIME-SERIES ANALYSIS AND...

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1 CHAPTER 20 SECTION 4-5: TIME-SERIES ANALYSIS AND FORECASTING MULTIPLE CHOICE 192. The mean absolute deviation averages the absolute differences between the actual values of the time series at time t and the forecast values at time: a. t + 1 b. t c. t - 1 d. t - 2 ANS: B PTS: 1 REF: SECTION 20.4-20.5 193. Which method would you recommend to your statistics professor in selecting the appropriate forecasting model if avoiding large errors is extremely important to him or her? 194. The most commonly used measures of forecast accuracy are the: 195. The mean absolute deviation (MAD) and the sum of squares for forecast error (SSE) are the most commonly used measures of forecast accuracy. The model that forecasts the data best will usually have the: 196. One measure of the accuracy of a forecasting model is the: a. deseasonalized time series b. four-period moving averages c. mean absolute deviation d. smoothing constant ANS: C PTS: 1 REF: SECTION 20.4-20.5
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2 197. To assess the adequacy of a forecasting model, one measure that is often used is the
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