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Error in Forecast
Error in Forecast
A forecast is made based on assumption and uncertain elements. Thus the difference between forecast value and actual value, that is, an error in forecast almost always occurs. The error in forecast is usually normally distributed, and the distribution degree is generally expressed by Mean Absolute Deviation (MAD).
Related term:MAD
A forecast is made based on assumption and uncertain elements. Thus the difference between forecast value and actual value, that is, an error in forecast almost always occurs. The error in forecast is usually normally distributed, and the distribution degree is generally expressed by Mean Absolute Deviation (MAD).
Related term:MAD
Reference：JIT Business Research Mr. Hirano Hiroyuki