Explain the difference between forecast bias and forecast error.
Question:
Explain the difference between forecast bias and forecast error.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 77% (9 reviews)
Forecast bias is when most of th...View the full answer
Answered By
Issa Shikuku
I have vast experience of four years in academic and content writing with quality understanding of APA, MLA, Harvard and Chicago formats. I am a dedicated tutor willing to hep prepare outlines, drafts or find sources in every way possible. I strive to make sure my clients follow assignment instructions and meet the rubric criteria by undertaking extensive research to develop perfect drafts and outlines. I do this by ensuring that i am always punctual and deliver quality work.
5.00+
6+ Reviews
13+ Question Solved
Related Book For
Operations Management A Supply Chain Process Approach
ISBN: 978-1483383064
1st edition
Authors: Joel D. Wisner
Question Posted:
Students also viewed these Business questions
-
Explain the difference between main and interactive testing effects. Why is this difference important?
-
Explain the difference between ROICs excluding and ROICs including goodwill for U.S. companies: what does this difference imply and why has it increased so much over the past decade?
-
Explain the difference between systems thinking and analytical thinking. Also, explain why both are important to a project manager.
-
Joseph Kent started business on 1 July 2018 as a joiner making conservatories. His taxadjusted profits (before deduction of capital allowances) were as follows: Private use of both cars has been...
-
An experiment involves placing the males and females of a laboratory animal species in two separate controlled environments. There is a limited time available in these environments, and the...
-
James was driving a vehicle manufactured by a major automobile manufacturer. Accompanying him were his wife and two children. James accidently drove over a curb and crashed into the concrete base of...
-
Your business purchased supplies of \($1,000\) on account. The journal entry to record this transaction is: a. Supplies 1,000 Accounts receivable 1,000 b. Accounts payable 1,000 Supplies 1,000
-
Consider the acid-catalyzed reaction Deduce the rate law and show that it can be made independent of the specific term [H+]. (1) HA +H* HAH (2) HAH* +B- BH* + AH k,k, both fast k, slow
-
Consider a zero-coupon bond with $1,000 face value and 29 to maturity.If the YTM is 4.27%,this bond will trade at a price of?
-
Calculate the NPV of the proposed overhaul of the Vital Spark, with and without the new engine and control system. To do the calculation, you will have to prepare a spreadsheet table showing all...
-
What is the difference between a linear trend forecast and a simple linear regression forecast?
-
What is a contingency plan used with forecasting and when would you want to formulate one? When would you use it?
-
Draw a precedence graph for the following segment found at the start of a computer program: (s1) a : = 1 (s2) b : = 2 (s3) a : = a + 3 (s4) c : = b (s5) a : = 2 * a - 1 (s6) b : = a * c (s7) c : = 7...
-
12/31/2019: At the end of the first year of operations, Yolandi Company had $900,000 in sales and accounts receivable of $350,000. Yolandi's management has estimated that 1.5% of sales will be...
-
Three point charges are located on a straight line as shown in the Figure; given: 91 (C) 92 (C) 93 (C) 486 2,772 -585 a (m) 6 b (m) 2 What is the magnitude (unit in N) of the electric force of q1...
-
The treasurer of Banila co. has projected the cash flows of Project A, B, and C as follows: Year Project A Project B Project C 1 -$405,000 -$810,000 -$405,000 2 297,000 540,000 324,000 3 297,000...
-
Assume that Sheridan has identified three activity cost pools. Pool Cost Cost Driver Assembly $ 6 8 7 , 5 0 0 Direct labor hours Setup 3 7 , 5 0 0 Number of setups ( 1 per batch ) Packaging 3 0 6 ,...
-
Championship Sports Inc. operates two divisions-the Winter Sports Division and the Summer Sports Division. The following income and expense accounts were provided from the trial balance as of...
-
Use a graph of the sequence to decide whether the sequence is convergent or divergent. If the sequence is convergent, guess the value of the limit from the graph and then prove your guess. (See the...
-
The relationship described in question 7 does not always appear to hold. What factors, besides the number of firms in the market, might affect margins?
-
What is supply-base optimization and why is it important in supplier management?
-
XYZ Corporation is looking to switch suppliers for its commercial building operations. Its last supplier was notorious for promising on-time delivery to construction sites and was frequently late or...
-
How would a service company like Marriott Hotels (Marriott International, Inc., Bethesda, MD) use a spend analysis to manage its suppliers?
-
based on the article How Chili's Is Prepping for Tough Times, Starting With the Fries by Heather Haddon. What is corporate social responsibility, and what is one way that Chili's can better pursue...
-
A rocket takes off vertically from the Launchpad with no initial velocity but a constant upward acceleration of 2.25 m/s. At 15.4 s after blastoff, the engines fail completely so the only force on...
-
At the beginning of year 1, a company acquires a $1,000,000 term loan with an interest rate of 7.50% and an annual payment based on a 15-year amortization. The total liabilities section of the...
Study smarter with the SolutionInn App