Forecasting Error in Industrial Engineering Formulas

Forecasting Error is the difference between the actual or real and the predicted or forecast value of a time series or any other phenomenon of interest. And is denoted by e_t.

Formulas to find Forecasting Error in Industrial Engineering

fxForecasting ErrorGo

List of variables in Industrial Engineering formulas

fx Observed Value at Time t Go

fx Smooth Averaged Forecast for Period t Go

FAQ

What is the Forecasting Error?

Forecasting Error is the difference between the actual or real and the predicted or forecast value of a time series or any other phenomenon of interest.

Can the Forecasting Error be negative?

{YesorNo}, the Forecasting Error, measured in {OutputVariableMeasurementName} {CanorCannot} be negative.

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