Forecast Error

question 19

Multiple Choice

Forecast error

• A)takes a positive value when the forecast is too high.
• B)cannot be negative.
• C)cannot be zero.
• D)is associated with measuring forecast accuracy.

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Definitions:

Empirical

Relies on, deals with, or can be confirmed through direct observation or practical experience rather than abstract theory or pure reasoning.

Common Sense

Practical judgment concerning everyday matters, or a basic ability to perceive, understand, and judge in a manner that is shared by nearly all people.

Sociohistorical Context

The social and historical background or environment that influences and shapes individuals, communities, or events.

Childhood Sexual Abuse

The involvement of a child in sexual activity that they do not fully comprehend, are unable to give informed consent to, or that violate the laws or social taboos of society.