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Unformatted text preview: model to describe the functional relationships between independent and dependent variables. 6. Mean absolute percent error: The average of the absolute difference between the forecast and actual values, expressed as a percent of actual values. 7. Smoothing constant : The weighting factor used in an exponential smoothing forecast; a number between 0 and 1. 8. Mean squared error : The average of the squared differences between the forecasted and observed values. 9. Mean absolute deviation : A measure of the overall forecast error for a model....
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This note was uploaded on 01/28/2011 for the course MAN 4504 taught by Professor Benson during the Spring '08 term at University of Florida.
- Spring '08