Forecasting: A hybrid approach |
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Authors: | Noel D Uri |
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Institution: | Federal Energy Administration, Washington USA |
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Abstract: | It has recently been shown that the Box-Jenkins approach to forecasting time series is superior to an econometric approach over a relatively short horizon. The results here support this contention. A combination of the two approaches, however, proves to be clearly superior to either one separately. By taking account of changes in economic and weather related variables in a time series model, improved forecasts are obtained. |
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