An Economical Method For Correcting Forecasting Error
ISSN: 1935-519X
Article publication date: 28 October 1992
Issue publication date: 28 October 1992
Abstract
The purpose of this discussion is to present to business forecasters and others who utilize forecast information a method for improving forecast performance. We summarize the generation of a forecast; evaluation of a forecast; and by example illustrate the optimal linear correction method for improving forecast accuracy. This technique permits forecasters and others to decompose forecast error into its components, and, in turn, reduce forecast error.
Keywords
Citation
Jarrett, J. (1992), "An Economical Method For Correcting Forecasting Error", American Journal of Business, Vol. 7 No. 2, pp. 55-58. https://doi.org/10.1108/19355181199200017
Publisher
:MCB UP Ltd
Copyright © 1992, MCB UP Limited