We appreciate your visit to This is a forecasting problem Year 1 3050 Year 2 4050 Year 3 3450 Year 4 3800 Year 5 3700 What is the absolute error. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!
Answer :
Final answer:
To calculate the absolute error for Year 4, the forecasted value for Year 4 is required. Absolute error = |3800 - 3450| = 350
Explanation:
The absolute error for a forecasting problem is calculated by taking the absolute value of the difference between the forecasted value and the actual value. In the given data set, the forecast for Year 4 is not provided, thus we cannot determine the absolute error for Year 4 without knowing the forecasted value. If the forecasted value for Year 4 was given, the calculation would simply be the absolute value of the difference between that forecasted number and the actual value which is 3800 for Year 4. Absolute error is determined by taking the absolute difference between the forecasted value and the actual value. In this case, for Year 4:
Forecasted value = 3800
Actual value = 3450
Absolute error = |3800 - 3450| = 350
Thanks for taking the time to read This is a forecasting problem Year 1 3050 Year 2 4050 Year 3 3450 Year 4 3800 Year 5 3700 What is the absolute error. We hope the insights shared have been valuable and enhanced your understanding of the topic. Don�t hesitate to browse our website for more informative and engaging content!
- Why do Businesses Exist Why does Starbucks Exist What Service does Starbucks Provide Really what is their product.
- The pattern of numbers below is an arithmetic sequence tex 14 24 34 44 54 ldots tex Which statement describes the recursive function used to..
- Morgan felt the need to streamline Edison Electric What changes did Morgan make.
Rewritten by : Barada
