Which of the Following Is True About Forecast Bias

question 112

Multiple Choice

Which of the following is true about forecast bias?

• A) It is the mean absolute deviation.
• B) It is equal to the square root of the MSE.
• C) When it is negative it means that the forecasts tended to be high.
• D) When it is positive it means that the forecasts tended to be high.

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Definitions:

Great Plains

A vast flat area of land in the central United States, known for its grasslands and prairie ecosystems, significant for agriculture and wildlife.

Francisco Vásquez de Coronado

A Spanish explorer of the 16th century who led a significant expedition in search of the Seven Cities of Gold, reaching as far as present-day Kansas.

Gold

A precious metal highly valued for its use in jewelry, currency, and various industrial applications, often seen as a stable investment.