Forecast Errors

question 20

Multiple Choice

Forecast errors

• A)are the difference in successive values of a time series.
• B)are the differences between actual and forecast values.
• C)should all be nonnegative.
• D)should be summed to judge the goodness of a forecasting model.

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Definitions:

Immediate Gratification

The desire to experience pleasure or fulfillment without delay or deferment, often prioritizing short-term rewards over long-term outcomes.

Competitive Occupations

Jobs or careers where individuals or organizations compete against others for resources, recognition, or achievement.

Subjective Conscious Experience

Individual perception and personal awareness of feelings, thoughts, and sensations, unique to each person.

Anxiety-Arousing

Describes stimuli or situations that elicit feelings of anxiety, fear, or stress.