Forecasts are always wrong and therefore
A) should include both the expected value of the forecast and a measure of forecast error.
B) should not include both the expected value of the forecast and a measure of forecast error.
C) should only be used when there are no accurate estimates.
D) should be missing the expected value of the forecast and a measure of forecast error.
E) none of the above

Question

Quizplus · Accepted Answer

Forecasts are always subject to errors and uncertainties. Therefore, it is important to provide not only the expected value of the forecast but also a measure of forecast error to provide decision-makers with a good understanding of the likely range of outcomes. This will help them make better-informed decisions.

Forecasts Are Always Wrong and Therefore