A Bias Error Results from Unpredictable Factors That Cause the Forecast

question 2

True/False

A bias error results from unpredictable factors that cause the forecast to deviate from actual demand.

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Definitions:

KMSs

Knowledge Management Systems (KMSs) are systems that help in collecting, organizing, sharing, and analyzing an organization's knowledge in terms of documents, procedures, and policies.

Salesperson

An individual who sells products or services directly to customers, aiming to meet their needs and secure transactions between the customer and the company.

Big Data

Huge volumes of data which, upon computational analysis, reveal various patterns, trends, and links, especially those pertaining to the ways humans behave and interact.

Human Error

Mistakes made by humans, often studied in the context of work environments to improve safety, efficiency, and reliability.