Which statement about forecast accuracy is TRUE?
A. A manager must be careful not to "overfit" past data.
B. The ultimate test of forecasting power is how well a model fits past data.
C. The ultimate test of forecasting power is how a model fits holdout samples.
D. The best technique in explaining past data is the best technique to predict the future.
Answer:A
Which statement about forecast accuracy is TRUE?
A. A manager must be careful not to "overfit" past data. B. The ultimate test of forecasting power is how well a model fits past data. C. The ultimate test of forecasting power is how a model fits holdout samples. D. The best technique in explaining past data is the best technique to predict the future.