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How can we differentiate between forecast bios & forecast error?

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Question ajoutée par Mohamed Elfarouk , Supply Chain Manager , Electrolux
Date de publication: 2014/11/18
Mohamed Mustafa Abdul Latheef
par Mohamed Mustafa Abdul Latheef , Warehouse Operations Manager , Daffah

As a quantitative measure, the "forecast bias" can be specified as a probabilistic or statistical property of the "forecast error". A typical measure of bias of forecasting procedure is the arithmetic mean or expected value of the forecast errors, but other measures of bias are possible. For example: A median-unbiased forecast would be one where half of the forecasts are too low and half too high

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