Production and Operations Analysis, Seventh Edition
Production and Operations Analysis, Seventh Edition
7th Edition
ISBN: 9781478623069
Author: Steven Nahmias, Tava Lennon Olsen
Publisher: Waveland Press, Inc.
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Chapter 2.6, Problem 14P
Summary Introduction

To explain: The meaning of biased in context to a particular forecasting technique.

Introduction:In forecasting ‘biased’ is a tendency for forecasting to be continuously greater or smaller than the actual predicted value. For any forecast, the forecast bias has a distinct error. Biased refers to a constant error in the forecast.

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