The Following Output Is Provided for a Linear Trend Regression-Based

question 37

Multiple Choice

The following output is provided for a linear trend regression-based forecasting model based on 12 months of data: Suppose that the actual sales for months 13-15 are: 720, 680, 800. Given this, which of the following is the forecast bias value for months 13-15?

• A) Approximately 77.7
• B) Approximately 233.2
• C) About -56.8
• D) Just under 80

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Definitions:

GDP Deflator

A gauge for pricing of all new, native-produced, conclusive goods and services within an economy, applied to revise nominal GDP in order to compute real GDP.

Real GDP

Gross Domestic Product adjusted for inflation, measuring the value of goods and services produced by a country in a specific period in real terms.

Percentage Change

A mathematical calculation that determines the degree of change over time as a proportion of the original value, often used to measure growth or decline in economic data.

Real GDP

The calculation of a nation's economic production accounting for variations in prices, representing the actual value of all goods and services generated.