Given Forecast Errors of 5, 0, -4, and 3, What

question 15

Multiple Choice

Given forecast errors of 5, 0, -4, and 3, what is the bias?

• A) -4
• B) 4
• C) 5
• D) 12
• E) 6

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Definitions:

Expected Frequencies

The predicted counts of occurrences in each category of a variable, based on a probability model or the distribution of the population.

Level of Education

Refers to the highest degree or stage of formal learning that an individual has completed.

Significant Change

A statistically determined change in data or results that is unlikely to have occurred by chance alone, indicating a meaningful difference or effect.

Proportions

A comparison of a part of a whole in terms of a simple ratio or fraction, often expressed as a percentage.