HP 3000 Manuals

HP RXForecast Users Manual for MPE Systems

Validating the Results 

After you have drawn a forecast, you should validate it to confirm that
it reasonably represents the system that it is designed to represent.

The following tools are used to validate a forecasting model:

   *   Common sense.

   *   Validation data.

   *   Confidence and prediction intervals.

   *   Statistics measures.

          *   R-Squared.

          *   T-Statistic.

          *   T-Probability.

          *   Mean Squared Error (MSE) and Standard Error.

   *   Residual analysis.

See "Validating a Forecast"  for an in-depth discussion of validity.

MPE/iX 5.0 Documentation