Forecast bias
id:
forecast-bias-263-6358980
title:
Forecast bias
text:
A forecast bias occurs when there are consistent differences between actual outcomes and previously generated forecasts of those quantities; that is: forecasts may have a general tendency to be too high or too low. A normal property of a good forecast is that it is not biased. 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
brand slug:
wiki
category slug:
encyclopedia
description:
original url:
https://en.wikipedia.org/wiki/Forecast_bias
date created:
date modified:
2022-01-18T11:35:33Z
main entity:
{"identifier":"Q5468157","url":"https://www.wikidata.org/entity/Q5468157"}
image:
fields total:
13
integrity:
13