The Two Most Important Factors in Choosing a Forecasting Technique

question 135

Multiple Choice

The two most important factors in choosing a forecasting technique are:

• A) cost and time horizon.
• B) accuracy and time horizon.
• C) cost and accuracy.
• D) all of the choices are correct.
• E) none of the choices are correct.

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Definitions:

Standard Deviation

Standard deviation is a measure of the amount of variation or dispersion in a set of values, indicating how much the values in a dataset deviate from the mean.

Raw Scores

The initial, unadjusted scores obtained directly from a test or assessment.

Test-retest Reliability

A measure of consistency where the same test is administered to the same group at two different points in time to assess the consistency of the results.

National Curve Equivalent

A standardized score that represents a student's relative rank on a national scale.