Examlex
Which of the following illustrates the difficulty in defining abnormal behaviour as behaviour that is statistically infrequent?
Forecast Error
The difference between the actual demand and the forecasted demand, often used as a measure of the accuracy of demand forecasts.
Forecast Error
The difference between the actual demand and the forecasted demand, highlighting inaccuracies in demand planning.
Forecast Error
The variance between what actually happens and the forecasts from prediction models.
Expected Value
Expected value is a concept in probability that calculates the average outcome when the future involves scenarios that may or may not happen.
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