Business A-Level
forecasting risk
What forecasting risk means in Business A-Level, as defined for AQA.
Definition of forecasting risk
Check what you remember
Read the wording for your board, then hide it and explain forecasting risk in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
Continuing a trend past the last known point is only as safe as the assumption that nothing changes.
Topics that use forecasting risk
- Understanding markets and customers (AQA A-Level)
Related terms
- branding and price sensitivity
- confidence intervals
- cost and timeliness
- evidence based decisions
- income elasticity
- limits of estimated data
- limits of historic records
- market share arithmetic
Using forecasting risk in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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