The Formula for the Forecast Error, Is Calculated by Using

question 2

Multiple Choice

The formula for the forecast error, is calculated by using the equation:

• A) Actual demand for period t minus the forecasted demand for period t
• B) Actual demand for period t divided by the forecasted demand for period t
• C) Actual demand for period t plus the forecasted demand for period t
• D) The average of Actual demand for period t and forecasted demand for period t

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Definitions:

Wealth

An abundance of valuable resources or material possessions, or the control over such assets.

Social Inequality

The existence of unequal opportunities and rewards for different social positions or statuses within a group or society, often based on race, gender, wealth, or other factors.

Ascribed Statuses

Social positions individuals are born into, such as family background, race, and gender, which are involuntary and not achieved by personal effort or merit.

Social Stratification

The hierarchical arrangement of individuals or groups in society based on wealth, power, status, or other criteria.