Which of the following is true according to the text?
A) Forecasts in recent years have been very accurate.
B) Use of the absolute forecast error as a percent of the realized value is a good measure to use in detecting a forecast bias.
C) Forecasting errors are smaller when focused on longer term periods.
D) None of the above.

Question

Quizplus · Accepted Answer

The text suggests that none of the statements A, B, or C are true. Forecasts in recent years may not have been very accurate, the absolute forecast error as a percent of the realized value may not effectively detect forecast bias, and forecasting errors are typically larger, not smaller, for longer-term periods.

Which of the Following Is True According to the Text