Newbie's Questions about Forecasting
Posted: Thu Mar 08, 2012 2:25 pm
hi, i am newbie to this
1. i am wondering what's the difference between Dynamic forecast and Static forecast
When should i use them?
2. I have constructed certain number of models and want to compare with the actual values, as an evaluation
can i do this with eviews, and how? i have considered to do this with excel, but i don't even know how to output the data..
3. is the rms error represents the forecasting error? is there any acceptable value for a model? how to interpret the rms error?
1. i am wondering what's the difference between Dynamic forecast and Static forecast
When should i use them?
2. I have constructed certain number of models and want to compare with the actual values, as an evaluation
can i do this with eviews, and how? i have considered to do this with excel, but i don't even know how to output the data..
3. is the rms error represents the forecasting error? is there any acceptable value for a model? how to interpret the rms error?