Question: In general, a forecasting model is built using historical data. The accuracy of the model can be checked by looking at the past results and
In general, a forecasting model is built using historical data. The accuracy of the model can be checked by looking at the past results and the ones that are obtained via this model for the same moment of the past. There are situations where forecasting methods fail to produce accurate results. Think about the weather for example. Can you mention other examples?
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