The goal of forecasting is to select a method that delivers a balance between the lowest possible error along with acceptable forecasting costs.

Name: The goal of forecasting is to select a method that delivers a balance between the lowest possible error along with acceptable forecasting costs.
Brand: Quizplus
Rating: 4.8 (37 reviews)

Question

Quizplus · Accepted Answer

All forecast methods have associate error levels and widely varying cost. The goal is lowest error at a reasonable cost.
Essay Questions

The Goal of Forecasting Is to Select a Method That