determine which currency was forecasted with greater accuracy. Do not round intermediate calculations. Round your answers to two decimal places. \table[[ Period, Yen Forecast,\table[[Actual Yen], [Value]], \table[[ Pound], [Forecast]], \table[[Actual Pound], [Value]]], [1, $ 0.0053, $0.0056,$1.47,$1.56 COUUR You are hired as a consultant to assess a firm's ability to forecast. The firm has developed a point forecast for two different currencies presented in the following table. The firm asks you to determine which currency was forecasted with greater accuracy. Do not round intermediate calculations. Round your answers to two decimal places. D Period Yen Forecast 50.0053 Actual Yen Value Pound Forecast Actual Pound Value $0.0056 $1.47 $1.56 $0.0052 $0.0054 $1.54 $1.57 $0.0055 $0.0051 $1.51 $1.58 35 $0.0051 $0.0053 $1.55 $1.50 The mean absolute forecast error as a percentage of the realized yen value is The mean absolute forecast error as a percentage of the realized pound value is %. %. Because the mean absolute forecast error as a percentage of the realized pound value is -Select than that of the yen, the -Select- was forecasted with greater accuracy.
determine which currency was forecasted with greater accuracy. Do not round intermediate calculations. Round your answers to two decimal places. \table[[ Period, Yen Forecast,\table[[Actual Yen], [Value]], \table[[ Pound], [Forecast]], \table[[Actual Pound], [Value]]], [1, $ 0.0053, $0.0056,$1.47,$1.56 COUUR You are hired as a consultant to assess a firm's ability to forecast. The firm has developed a point forecast for two different currencies presented in the following table. The firm asks you to determine which currency was forecasted with greater accuracy. Do not round intermediate calculations. Round your answers to two decimal places. D Period Yen Forecast 50.0053 Actual Yen Value Pound Forecast Actual Pound Value $0.0056 $1.47 $1.56 $0.0052 $0.0054 $1.54 $1.57 $0.0055 $0.0051 $1.51 $1.58 35 $0.0051 $0.0053 $1.55 $1.50 The mean absolute forecast error as a percentage of the realized yen value is The mean absolute forecast error as a percentage of the realized pound value is %. %. Because the mean absolute forecast error as a percentage of the realized pound value is -Select than that of the yen, the -Select- was forecasted with greater accuracy.
Chapter4: Exchange Rate Determination
Section: Chapter Questions
Problem 1BIC
Related questions
Question
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![determine which currency was forecasted with greater
accuracy. Do not round intermediate calculations.
Round your answers to two decimal places. \table[[
Period, Yen Forecast,\table[[Actual Yen], [Value]], \table[[
Pound], [Forecast]], \table[[Actual Pound], [Value]]], [1, $
0.0053, $0.0056,$1.47,$1.56
COUUR
You are hired as a consultant to assess a firm's ability to forecast. The firm has developed a point forecast for two different currencies presented in the following table. The firm asks you to
determine which currency was forecasted with greater accuracy. Do not round intermediate calculations. Round your answers to two decimal places.
D
Period
Yen Forecast
50.0053
Actual Yen
Value
Pound
Forecast
Actual Pound
Value
$0.0056
$1.47
$1.56
$0.0052
$0.0054
$1.54
$1.57
$0.0055
$0.0051
$1.51
$1.58
35
$0.0051
$0.0053
$1.55
$1.50
The mean absolute forecast error as a percentage of the realized yen value is
The mean absolute forecast error as a percentage of the realized pound value is
%.
%.
Because the mean absolute forecast error as a percentage of the realized pound value is -Select than that of the yen, the -Select- was forecasted with greater accuracy.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3b5a9d1d-a137-4fc9-98c2-1213fbfdd6a5%2F63bf7c35-6f0d-4d8e-9401-be68d414a977%2F9oh2vdk_processed.png&w=3840&q=75)
Transcribed Image Text:determine which currency was forecasted with greater
accuracy. Do not round intermediate calculations.
Round your answers to two decimal places. \table[[
Period, Yen Forecast,\table[[Actual Yen], [Value]], \table[[
Pound], [Forecast]], \table[[Actual Pound], [Value]]], [1, $
0.0053, $0.0056,$1.47,$1.56
COUUR
You are hired as a consultant to assess a firm's ability to forecast. The firm has developed a point forecast for two different currencies presented in the following table. The firm asks you to
determine which currency was forecasted with greater accuracy. Do not round intermediate calculations. Round your answers to two decimal places.
D
Period
Yen Forecast
50.0053
Actual Yen
Value
Pound
Forecast
Actual Pound
Value
$0.0056
$1.47
$1.56
$0.0052
$0.0054
$1.54
$1.57
$0.0055
$0.0051
$1.51
$1.58
35
$0.0051
$0.0053
$1.55
$1.50
The mean absolute forecast error as a percentage of the realized yen value is
The mean absolute forecast error as a percentage of the realized pound value is
%.
%.
Because the mean absolute forecast error as a percentage of the realized pound value is -Select than that of the yen, the -Select- was forecasted with greater accuracy.
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