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2. now compare your projections to the projections from the texas labor market information resource found on the opening page of this activity. how did your forecast compare to these projections? are you surprised by this forecast? why or why not? also, how did your projections for texas compare to the projections for the country as a whole?

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This exercise demonstrates the use of forecasts in labor market information. It also looks at projections.

What is a projection?

A simple definition of the word projection, as used in statistics is, the prediction of a future value having considered the past statistics of a population should a given set of assumptions occur.

In business, projection is a desired future outcome while the forecast is an estimated future outcome, based on the balance of probability.

Labor market statistics relate to the data from the labor market that predicts employment trends. This can be executed according to occupation, geographical location, sectors, etc.

Learn more about Projections at:
https://brainly.com/question/24938591

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