Examlex
A new knowledge base must be built for each unique expert system application.
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.
Moving Average Forecast
A method used in time series analysis to smooth out short-term fluctuations and highlight longer-term trends or cycles.
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