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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

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