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Total error and mean squared error

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Use the following to answer questions:

Week Revenue Forecasted Revenue
1 200 225
2 240 220
3 300 285
4 270 290
5 230 250
6 260 240
7 210 250
8 275 240

Compute the total error (sum of the error terms)

Compute the mean squared error (deviation)

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Solution Summary

Total error and mean squared error are computed.

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