2 votes

How to verify the correctness of forecast?

Regarding when to be satisfied with your model, one thing to do is to plot the forecast residuals (predicted - actual) v. time and also v. actual. If either plot exhibits a pattern, either there is a ...
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1 vote

How to verify the correctness of forecast?

I am not sure about your mentioned method to forecast what you want, but as an answer to the second question, there exist many other techniques to estimate forward on the planning horizon. So there ...
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