In the context of time series analysis, what is the purpose of "forecast error metrics" such as Mean Absolute Error (MAE) or Mean Squared Error (MSE)?
A. To identify seasonality in the data
B. To evaluate the accuracy of forecasts
C. To remove outliers from the data
D. To determine the order of differencing
Answer: Option B
This Question Belongs to Data Science >> Time Series Analysis
Related Questions on Time Series Analysis
What is the primary characteristic of a time series data set?
A. Random data
B. Data points are not related
C. Data is collected at irregular intervals
D. Data is collected over time
A. Outliers
B. Trends
C. Seasonality
D. Noise
A. Stationary
B. Seasonal
C. Trend
D. White noise
What is the primary goal of "detrending" in time series analysis?
A. To remove seasonality from the data
B. To remove outliers from the data
C. To identify trends in the data
D. To add noise to the data
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