Author Question: Forecast value A) is a measure of how well the forecast matches actual conditions. B) depends on ... (Read 111 times)

go.lag · **on:** Jul 14, 2018

Forecast value

A) is a measure of how well the forecast matches actual conditions.
B) depends on forecast skill.
C) refers to the usefulness of a forecast.
D) is the same for all people in the area for which the forecast is made.

Question 2

Define and explain the differences between forecast quality and forecast value.

What will be an ideal response?

bitingbit · **Reply #1 on:** Jul 14, 2018

Answer to Question 1

Answer: C

Answer to Question 2

Answer: Forecast quality refers to the agreement between forecasts and observations, whereas forecast value refers to the usefulness of a forecast.