Which of the Following Is Not Necessarily an Element of a Good

question 8

Multiple Choice

Which of the following is not necessarily an element of a good forecast?

• A)estimate of accuracy
• B)timeliness
• C)meaningful units
• D)low cost
• E)written

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Definitions:

Variances

Statistical measures that indicate the dispersion of data points in a dataset relative to the mean, signifying the spread of data.

Success Rates

The proportion or percentage of attempts that result in success, commonly used in the context of clinical trials, educational exams, or business ventures.

Orientation Program

A program designed to introduce new members or employees to policies, procedures, and the culture of an organization.

One-Sample Test

A statistical procedure used to determine if the mean of a single sample is significantly different from a known or hypothesized population mean.