Question:
Given below are two statements: One is labelled as Assertion A and the other is labelled as Reason R.
Assertion (A): The numeric differences in the forecast of demand and actual demand is known as forecast error (e).
Reasons (R): Mean Absolute Deviation \((MAD) = \frac{Σ|e|}{n}\).
In the light of the above statements, choose the most appropriate answer from the options given below:
Given below are two statements: One is labelled as Assertion A and the other is labelled as Reason R.
Assertion (A): The numeric differences in the forecast of demand and actual demand is known as forecast error (e).
Reasons (R): Mean Absolute Deviation \((MAD) = \frac{Σ|e|}{n}\).
In the light of the above statements, choose the most appropriate answer from the options given below:
Assertion (A): The numeric differences in the forecast of demand and actual demand is known as forecast error (e).
Reasons (R): Mean Absolute Deviation \((MAD) = \frac{Σ|e|}{n}\).
In the light of the above statements, choose the most appropriate answer from the options given below:
Updated On: Mar 12, 2025
- Both (A) and (R) are correct and (R) is the correct explanation of (A)
- Both (A) and (R) are correct but (R) is NOT the correct explanation of (A)
- (A) is correct but (R) is not correct
- (A) is not correct but (R) is correct
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The Correct Option is B
Solution and Explanation
The correct option is (B): Both (A) and (R) are correct but (R) is NOT the correct explanation of (A)
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