What is the mean absolute deviation

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Reference no: EM131232747

A concert promoter is forecasting this year's attendance for one of his concerts based on the following historical data:

Year Attendance

four years ago 10,000

three years ago 12,000

two years ago 18,000

last year 20,000

1. What is this year's forecast using the naive approach? A. 22,000 B. 20,000 C. 18,000 D. 15,000 E. 12,000

2. What is this year's forecast using the least squares trend line for these data? A. 20,000 B. 21,000 C. 22,000 D. 23,000 E. 24,000 10.

3. Given forecast errors of 4, 8, and - 3, what is the mean absolute deviation? A. 4 B. 3 C. 5 D. 6 E. 12

Reference no: EM131232747

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