Problem related to forecasting methods, Operation Management

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Problem related to forecasting methods

Suppose two forecasting methods - call them FM1 and FM2 - are being compared. FM1's MAD and MAPE are smaller than FM2's. FM2's MSE is smaller than FM1's. If FM2 is determined to be the better choice, this must mean that in this situation:

Answers: A. Avoiding the occasional large error is important

B. Major changes in the fundamental demand pattern are expected in the future

C. Demand is expected to become less variable in the future

D. Fundamental changes in seasonal patterns have occurred

E. None of the above

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Operation Management: Problem related to forecasting methods

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Operation Management: Problem related to forecasting methods

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Recent Questions Asked Operation Management

Q : Where will that sales growth be for next three-five years

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Request for Solution File

Ask an Expert for Answer!!

Operation Management: Problem related to forecasting methods

Reference No:- TGS0513112

Recent Questions Asked Operation Management

Q : Where will that sales growth be for next three-five years

Q : Becoming a profitable endeavor

Q : Identified for managing risks

Q : Find marginal transformation rate for each country

Q : Problem related to forecasting methods

Q : Us tax consequences

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Q : Evaluating two time-series forecasting techniques

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