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Author Question: Forecast value A) is a measure of how well the forecast matches actual conditions. B) depends on ... (Read 115 times)

go.lag

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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?


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bitingbit

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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.


go.lag

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Reply 2 on: Jul 14, 2018
Thanks for the timely response, appreciate it

kishoreddi

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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