The tendency to consistently produce a particular type of forecast (high or low)that isn't accurate is called a(n)______.
A)overestimate
B)underestimate
C)bias
D)wrong estimate

Question

Quizplus · Accepted Answer

Bias refers to a consistent tendency to produce a particular type of forecast error. This means that the forecasts consistently overestimate or underestimate the actual values. Options A and B refer to specific instances of forecasting errors, while option D is too general and not specific to the concept of bias.

The Tendency to Consistently Produce a Particular Type of Forecast