Forecast Accuracy Multiple Choice Questions with Answers – PDF Download

MCQ 1: A measure of forecast accuracy that avoids the problem of positive/negative forecast errors offsetting one another is known as:

1. Mean standard error
2. Mean absolute error
3. Mean residual factor
4. Mean estimated factor

MCQ 2: How well a particular forecasting method is able to reproduce the available time series data can be determined by:

1. Pattern plot
2. Forecast accuracy
3. Prediction
4. Error factor

MCQ 3: Forecast error in finding forecast accuracy can be computed as:

1. Forecast value- Actual value
2. Actual value- error value
3. Error value- Actual value
4. Actual value-forecast

MCQ 4: The key concept associated with measuring forecast accuracy is known to be:

1. Future value prediction
2. Actual Value
3. Forecast error
4. Residual forecast

MCQ 5: A simple measure of forecast accuracy is named as:

1. Mean of forecast errors
2. Mean sum of squares
3. Mean residual of forecast
4. Mean of forecast deviation