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YES,,,,,,,,,,, BECAUSE IT IS DONE BY HUMANS AND FOR HUMANS............ SO ERROR IS THE MUST CASE ,,,,,,,,,,,,,,,,,,,,, GOOD DAY
Yes. Forecast require variance analysis as to its accuracy because these are estimates. Some calculated difference expressed as a % of the projected estimates are also included to facilitate control.
It is regarded as one of the principles of forecasting technique.
Yes the error may happens as we are forecasting future & future is uncertain. The intensity of error depends upon time period, if we are forecasting for an year the risk will be low & if it is for five years than the magnitude of error will be high.
Totally Agree
Yes.
The forecast error is the difference between the actual value and the forecast value for the corresponding period.
Thanks for the invitation
Yes for sure totally agree
Absolutely yeah !
Exact sciences undergone errors ! How about forcasting ?!
Sure I Agree but also there is minor errors and major errors
