Asked by
Raveline Irene
on Oct 31, 2024
Verified
If a forecast is consistently greater than (or less than) actual values, the forecast is said to be biased.
Biased Forecast
A forecast that consistently tends to overestimate or underestimate the actual value due to systematic errors.
- Comprehend the characteristics and applications of time-series analysis in forecasting.
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Learning Objectives
- Comprehend the characteristics and applications of time-series analysis in forecasting.
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