Final answer:
The accuracy of estimates for current events is higher due to factors like increasing uncertainty over time and reliance on historical data for more reliable estimates.
Explanation:
The accuracy of estimates for current events is greater than that for more distant events due to several factors:
- Uncertainty increases over time: As events get further into the future, there are more variables and unknown factors that can impact the accuracy of estimates.
- Historical Data: Estimating using past experience is more reliable for current events as opposed to distant ones.
- Planning Horizon: The farther into the future an activity is, the greater the margin of error in estimation.
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