Type of Information
Nature of Assumptions
|Projections indicate what future values for the population would be if the assumed patterns of change were to occur. They are not a prediction that the population will change in this manner.|
While both involve analysis of data, the key difference between a forecast and a projection is the nature of the assertion in relation to the assumptions occurring.
|A projection simply indicates a future value for the population if the set of underlying assumptions occur.|
|Forecasts speculate future values for the population with a certain level of confidence, based on current and past values as an expectation (prediction) of what will happen.||In a forecast, the assumptions represent expectations of actual future events.|