A Forecast Is Said to Be Biased If It Is

question 24

True/False

A forecast is said to be biased if it is consistently greater than actual values.

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Definitions:

Marketplace

A platform or area where goods and services are exchanged or sold.

Marketing Concept

A business philosophy emphasizing customer needs and satisfaction as the key to achieving organizational goals.

Paradigm Shift

A fundamental change in the approach or underlying assumptions of a particular field or discipline.

Flatter Organizational Structure

An organizational design with fewer levels of hierarchy, encouraging better communication and faster decision-making between upper management and employees.