Forecast Bias Measures the Average Amount of Error Per Forecast

question 109

True/False

Forecast bias measures the average amount of error per forecast, so a positive value means that forecasts tended to be too low.

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Definitions:

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Twentieth Century

The century that lasted from January 1, 1901, to December 31, 2000, marked by significant events like world wars, technological advancements, and social changes.

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