What is the second best possible result in measuring forecast accuracy? Low MFE and low MAD...

Question

Question

What is the second best possible result in measuring forecast accuracy?

Low MFE and low MAD

High MFE and high MAD

Low MFE and high MAD

High MFE and low MAD

business Operations-Management

Answer 1

Answer #1

Low MFE and low MAD.

Low MFE and low MAD shows unbiased and accurate result. It is the second best possible result in measuring forecast accuracy.

Answer 2

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