Which of the Following Is a Possible Source of Bias

question 64

Multiple Choice

Which of the following is a possible source of bias error in forecasting?

• A) Failing to include the right variables
• B) Using the wrong forecasting method
• C) Employing less sophisticated analysts than necessary
• D) Using incorrect data
• E) Using standard deviation rather than MAD

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Definitions:

Advertising Expense

Advertising expense is the cost incurred in promoting products or services through various media to increase sales.

Interest Expense

The cost incurred by an entity for borrowed funds, including loans, bonds, or lines of credit, which is charged as an expense on the income statement.

Utility Bill

A regular invoice for essential services such as electricity, water, gas, or telecommunications provided to individuals or businesses.

Journal Entries

The record of financial transactions as they occur, detailing the accounts that are affected and in what way.