A firm's demand data from the last two quarters is displayed in the table.

-If last period's forecast was 27, and the actual demand was 30, what was the forecast error?
A)+3.00
B)+2.00
C)+1.00
D)-2.00
E)-3.00

Name: A firm's demand data from the last two quarters is displayed in the table. -If last period's forecast was 27, and the actual demand was 30, what was the forecast error? A)+3.00 B)+2.00 C)+1.00 D)-2.00 E)-3.00
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Question

A firm's demand data from the last two quarters is displayed in the table.
 
-If last period's forecast was 27, and the actual demand was 30, what was the forecast error?
A)+3.00 
B)+2.00 
C)+1.00 
D)-2.00 
E)-3.00

Quizplus · Accepted Answer

Forecast error = Actual demand - Last period's forecast= 30 - 27= +3

A Firm's Demand Data from the Last Two Quarters Is