The GATE Grind

GATE 2021 PI – Question 15

Operations Research and Operations Management · Production Control · 1 mark · Multiple choice

Which is NOT a measure of forecast error?

  1. Mean absolute deviation (MAD)
  2. Mean squared error (MSE)
  3. Mean absolute percent error (MAPE)
  4. Mean sum product error (MSPE)

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Correct answer: (D) Mean sum product error (MSPE)

Explanation

MAD averages absolute errors, MSE squared errors and MAPE absolute percentage errors. Mean sum product error is not the standard forecast-error measure among these choices. **D**.

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