Question: If a forecast is too high when compared to an actual outcome, will that forecast error be positive or negative?

If a forecast is too high when compared to an actual outcome, will that forecast error be positive or negative?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

If a forecast is too high when compared to an actual outcome the forecast error will be nega... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Operations Management Questions!

Q:

SA-TIED YOUNG SCHOLARS PROGRAMME Young Scholars This paper was produced as a part of the SA-TIED Young Scholars' programme. The programme is a part of SATIED's capacity building initiatives, designed...

Q:

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

Q:

"I'm not sure we should lay out $300,000 for that automated welding machine," said Jim Alder, president of the Superior Equipment Company. "That's a lot of money, and it would cost us $84,000 for...

Q:

If a forecast is too low when compared to an actual outcome, that forecast will be negative. Select one: True False Quantitative forecasting models are best for shorter term decision making than...

Q:

Market Demand Forecast Method Selection and Application: A Case Study in Hero MotoCorp Ltd. D K Choudhury Abstract: In this dynamic era, the market is very competitive and the demand for a product...

Q:

Market Demand Forecast Method Selection and Application: A Case Study in Hero MotoCorp Ltd. D K Choudhury Abstract: In this dynamic era, the market is very competitive and the demand for a product...

Q:

Question : Reading 9 :What does it mean to be risk averse or risk neutral? How important is it to evaluate risk and to evaluate how sensitive to risk any business, personal, or academic decision you...

Q:

FIJI REVENUE & CUSTOMS AUTHORITY 2015 ANNUAL REPORT I MANAGEMENT REPORT 01 Board of Directors 4 02 FRCA Management Team 5 03 Chief Executive Officer's Report 6 II CRITICAL SUCCESS FACTORS 2015 01...

Q:

FIJI REVENUE & CUSTOMS AUTHORITY 2015 ANNUAL REPORT I MANAGEMENT REPORT 01 Board of Directors 4 02 FRCA Management Team 5 03 Chief Executive Officer's Report 6 II CRITICAL SUCCESS FACTORS 2015 01...

Q:

FIJI REVENUE & CUSTOMS AUTHORITY 2015 ANNUAL REPORT I MANAGEMENT REPORT 01 Board of Directors 4 02 FRCA Management Team 5 03 Chief Executive Officer's Report 6 II CRITICAL SUCCESS FACTORS 2015 01...

Q:

What is risk in the context of financial decision making?

Q:

A 10-lb collar C is released from rest in the position shown and slides without friction on a vertical rod until it hits a spring of constant k = 50 lb/ft which it compresses. The velocity of the...

Q:

You are considering purchasing a new injection molding machine. This machine will have an estimated service life of 1 4 years with a negligible after - tax salvage value. Its annual net after - tax...

Q:

l Discuss the advantages and disadvantages of each of the main forms of purchase consideration used in a takeover.

Q:

Cara Ryder manages a ski school in a large resort and is trying to develop a schedule for Instructors. The instructors receive little salary and work just enough to earn room and board. They receive...

Q:

Cara Ryder manages a ski school in a large resort and is trying to develop a schedule for Instructors. The instructors receive little salary and work just enough to earn room and board. They receive...

Q:

The mayor of Cambridge, Colorado, wanting to be environmentally progressive, decides to implement a recycling plan. All residents of the city will receive a special three-part bin to separate their...

Q:

The fundamental or intrinsic value of a share of stock is equal to: the present value of all of the company's future capital gains. the future value of all of the company's NPVGO's. the present value...

Q:

Which of the following statements is FALSE? a. The WACC method can be used to evaluate a new project if the new project has a similar level of risk compared to the rest of the firm. b. Firms with...

Q:

PLCs are easy to program, operate, maintain, and repair. True or False? ( pg 3 0 )