Examlex
Programmed decisions are
Forecast Error
The difference between the actual outcomes and the predictions made by forecasting models, utilized to measure the accuracy of predictions.
Forecasts
Predictions about future events, such as sales, economic trends, or weather, based on historical data and analysis.
Expected Value
A calculated average of all possible values for a random variable, weighted by their probabilities, used in statistics and economics to determine the most likely outcome.
Mature Products
Products in the final stage of their product life cycle, characterized by a slowdown in sales growth and market saturation.
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