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:

Initiating Structure

Leadership behavior focused on defining roles, setting goals, and providing clear direction to team members.

Consideration

The degree of empathy, respect, and understanding a leader or organization shows towards its members.

Precondition

A condition that must be met or required before another event or operation can occur.

Initiating Structure

A leadership behavior that focuses on defining roles, tasks, and relationships in the pursuit of goal achievement.