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A Note on Qualitative Forecast Evaluation
Author(s) -
Naik Gopal,
Leuthold Raymond M.
Publication year - 1986
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1241556
Subject(s) - contingency table , table (database) , contingency , qualitative analysis , operations research , computer science , qualitative research , econometrics , economics , data mining , mathematics , machine learning , sociology , epistemology , social science , philosophy
Traditionally, the 2 × 2 contingency table method has been used for qualitative evaluation of forecasts. However, the conclusions drawn based on this method could be misleading because it does not account for the direction of the turning or no turning points. A 4 × 4 contingency table which overcomes this weakness and which gives more information on the qualitative performance of the forecast is suggested.