Chapter 7 - Ensemble methods.pdf
Chapter 7 - Ensemble methods.pdf
Chapter 7 - Ensemble methods.pdf
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Historical context<br />
• Since the 1960’s it has been shown that<br />
combining human forecasts from different<br />
forecasters produces a group-mean forecast<br />
that is superior – “consensus forecasting”.<br />
• Forecasting paradigm<br />
– When models agree…good confidence in forecast<br />
– When models disagree…low confidence