Which of the following is a possible source of bias error in forecasting?
A) Failing to include the right variables
B) Using the wrong forecasting method
C) Employing less sophisticated analysts than necessary
D) Using incorrect data
E) Using standard deviation rather than MAD

Question

Quizplus · Accepted Answer

Failing to include the right variables can lead to systematic errors in the forecast, as important factors influencing the outcome are not considered, resulting in biased predictions.

Which of the Following Is a Possible Source of Bias