error in forecasting
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Forecasting — is the process of estimation in unknown situations. Prediction is a similar, but more general term. Both can refer to estimation of time series, cross sectional or longitudinal data. Usage can differ between areas of application: for example in… … Wikipedia
Reference class forecasting — predicts the outcome of a planned action based on actual outcomes in a reference class of similar actions to that being forecast. The theories behind reference class forecasting were developed by Daniel Kahneman and Amos Tversky. They helped… … Wikipedia
economic forecasting — Prediction of future economic activity and developments. Economic forecasts, which range from a few weeks to many years, are widely used in business and government to help formulate policy and strategy. Macroeconomic forecasts predict the course… … Universalium
Weather forecasting — weather forecaster redirects here. For other uses, see Weatherman (disambiguation). Forecast of surface pressures five days into the future for the north Pacific, North America, and north Atlantic ocean. Weather forecasting is the application of… … Wikipedia
Tropical cyclone track forecasting — involves predicting where a tropical cyclone is going to track over the next five days, every 6 to 12 hours. The history of tropical cyclone track forecasting has evolved from a single station approach to a comprehensive approach which uses a… … Wikipedia
Wind power forecasting — A wind power forecast corresponds to an estimate of the expected production of one or more wind turbines (referred to as a wind farm) in the near future. By production is often meant available power for wind farm considered (with units kW or MW… … Wikipedia
Telecommunications forecasting — All telecommunications service providers perform forecasting calculations to assist them in planning their networks.Farr R.E., Telecommunications Traffic, Tariffs and Costs – An Introduction For Managers, Peter Peregrinus, 1988.] Accurate… … Wikipedia
Demand forecasting — is the activity of estimating the quantity of a product or service that consumers will purchase. Demand forecasting involves techniques including both informal methods, such as educated guesses, and quantitative methods, such as the use of… … Wikipedia
National Collegiate Weather Forecasting Contest — The National Collegiate Weather Forecasting Contest, or NCWFC, was a yearly competition among colleges and Universities in the US run by Penn State. There were over 1000 participants from about 45 institutions. In 2006, the competition was… … Wikipedia
Mean absolute scaled error — In statistics, the mean absolute scaled error (MASE) is a measure of the accuracy of forecasts . It was proposed in 2006 by Australian statistician Rob Hyndman, who described it as a generally applicable measurement of forecast accuracy without… … Wikipedia
Political forecasting — aims at predicting the outcome of elections. Models include: Opinion polls Polls are an integral part of political forecasting. However, incorporating poll results into political forecasting models can cause problems in predicting the outcome of… … Wikipedia
