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HomeMIT IDS.333 Risk and Decision Analysis, Fall 2021Unit 2: the Forecast is always wrong, Video 1: Cost Estimates

Unit 2: the Forecast is always wrong, Video 1: Cost Estimates

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Unit 2: The Forecast is ‘Always’ wrong, Video 2: Demand Forecasts

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This is the first part of the discussion of why we must expect that forecasts are “always” wrong. It presents a series of examples of historical cost estimates to illustrate the point.