Confidence Interval...or not?
Posted: Mon Dec 04, 2017 10:10 am
I am trying to deal with a request to provide confidence intervals on a forecast...this is easy.
But now I need to provide a forecast number that will represent a forecast that is 75% likely to be this or less.
For example:
Provide me a forecast bound that has a 75% chance or less probability of being that amount. For example, if the number was 8.3%, this 8.3% would mean that there is a 75% chance that growth will be 8.3% or LESS. Is there a simple formula for this? I think there is, but I have forgotten it.
thanks
But now I need to provide a forecast number that will represent a forecast that is 75% likely to be this or less.
For example:
Provide me a forecast bound that has a 75% chance or less probability of being that amount. For example, if the number was 8.3%, this 8.3% would mean that there is a 75% chance that growth will be 8.3% or LESS. Is there a simple formula for this? I think there is, but I have forgotten it.
thanks