forecast error

English - English

Definition of forecast error in English English dictionary

The difference between actual demand and forecasted demand

(Ticaret) The difference between actual demand and the forecast for a given time period. Past observations of forecast error are used in modifying new projected forecasts, and sometimes in calculating desired safety stock levels

Hyphenation

fore·cast er·ror

Turkish pronunciation

fôrkäst erır

Pronunciation

/ˈfôrˌkast ˈerər/ /ˈfɔːrˌkæst ˈɛrɜr/