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Which of the following features would generally NOT be considered common to all forecasts? forecasts for groups of items tend ot be more accurate than forecasts for individual items the accuracy of forecasts decreases as the time horizon increases actual results will differ from predicted values historical data is available on which to base the forecast assumption of an underlying causal system

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Answer: Historical data is available on which to base the forecast

Explanation:

Forecasting is a very important part of business. It helps management decide what to produce, how to produce, how to sell, how many people to hire etc.

It is basically Paramount in business because decisions are made on them that decide the fate of the company.

This is why there are different ways of forecasting and one of them is to use historical data because chances are that if something is happening now, it has happened before.

The problem however is that with this rapidly evolving business environment, there are quite some things that can be considered new. When forecasting such things, it is best not to use forecasting that relies on previous data because it won't be available. There simply won't be any historical data to base the forecast on.

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