Week 52 Influenza Forecast for the 2012-2013 U.S. Season

This document is another installment in a series of near real-time weekly influenza forecasts made during the 2012-2013 influenza season. Here we present some of the results of forecasts initiated following assimilation of observations for Week 52 (i.e. the forecast begins December 30, 2012) for municipalities in the United States. The forecasts were made on January 4, 2013. Results from forecasts initiated the five previous weeks (Weeks 47-51) are also presented

Evaluating probability forecasts

Probability forecasts of events are routinely used in climate predictions, in forecasting default probabilities on bank loans or in estimating the probability of a patient's positive response to treatment. Scoring rules have long been used to assess the efficacy of the forecast probabilities after observing the occurrence, or nonoccurrence, of the predicted events. We develop herein a statistical theory for scoring rules and propose an alternative approach to the evaluation of probability forecasts. This approach uses loss functions relating the predicted to the actual probabilities of the events and applies martingale theory to exploit the temporal structure between the forecast and the subsequent occurrence or nonoccurrence of the event.Comment: Published in at http://dx.doi.org/10.1214/11-AOS902 the Annals of Statistics (http://www.imstat.org/aos/) by the Institute of Mathematical Statistics (http://www.imstat.org

Forecast Combinations

We consider combinations of subjective survey forecasts and model-based forecasts from linear and non-linear univariate specifications as well as multivariate factor-augmented models. Empirical results suggest that a simple equal-weighted average of survey forecasts outperform the best model-based forecasts for a majority of macroeconomic variables and forecast horizons. Additional improvements can in some cases be gained by using a simple equal-weighted average of survey and model-based forecasts. We also provide an analysis of the importance of model instability for explaining gains from forecast combination. Analytical and simulation results uncover break scenarios where forecast combinations outperform the best individual forecasting model.Factor Based Forecasts, Non-linear Forecasts, Structural Breaks, Survey Forecasts, Univariate Forecasts.

Retrospective Evaluation of the Five-Year and Ten-Year CSEP-Italy Earthquake Forecasts

On 1 August 2009, the global Collaboratory for the Study of Earthquake Predictability (CSEP) launched a prospective and comparative earthquake predictability experiment in Italy. The goal of the CSEP-Italy experiment is to test earthquake occurrence hypotheses that have been formalized as probabilistic earthquake forecasts over temporal scales that range from days to years. In the first round of forecast submissions, members of the CSEP-Italy Working Group presented eighteen five-year and ten-year earthquake forecasts to the European CSEP Testing Center at ETH Zurich. We considered the twelve time-independent earthquake forecasts among this set and evaluated them with respect to past seismicity data from two Italian earthquake catalogs. In this article, we present the results of tests that measure the consistency of the forecasts with the past observations. Besides being an evaluation of the submitted time-independent forecasts, this exercise provided insight into a number of important issues in predictability experiments with regard to the specification of the forecasts, the performance of the tests, and the trade-off between the robustness of results and experiment duration. We conclude with suggestions for the future design of earthquake predictability experiments.Comment: 43 pages, 8 figures, 4 table

How wrong were we? The accuracy of the Fraser of Allander Institute's forecasts of the Scottish economy since 2000

The Fraser of Allander Institute regularly forecasts the annual growth of the Scottish economy. This paper measures the accuracy of these forecasts. It contrasts official measures of the growth performance of the Scottish economy and FAI forecasts for growth. Specifically, official measures of growth for the calendar years 2001 to 2010 are compared to forecasts for growth in these years made between January 2000 and spring 2011. Results show that: FAI forecasts of the direction of economic growth from one year to the next was statistically better than chance; the accuracy of forecasts improve as we get closer to the publication of the first growth estimate; excluding the „Great Recession‟, the mean absolute error of forecasts made up to eighteen months before publication of the first growth estimate for a year is approximately half a percentage point (i.e. 0.5%). There have often been significant revisions to Scottish GVA data, particularly at the start of the sample period. This emphasises the need for quality, and timely, indicators of economic performance for the Scottish economy as part of the information required for accurate forecasts in the future

Evaluation of ECMWF medium-range ensemble forecasts of precipitation for river basins

Providing probabilistic forecasts using Ensemble Prediction Systems has become increasingly popular in both the meteorological and hydrological communities. Compared to conventional deterministic forecasts, probabilistic forecasts may provide more reliable forecasts of a few hours to a number of days ahead, and hence are regarded as better tools for taking uncertainties into consideration and hedging against weather risks. It is essential to evaluate performance of raw ensemble forecasts and their potential values in forecasting extreme hydro-meteorological events. This study evaluates ECMWF's medium-range ensemble forecasts of precipitation over the period 1 January 2008 to 30 September 2012 on a selected midlatitude large-scale river basin, the Huai river basin (ca. 270 000 km2) in central-east China. The evaluation unit is sub-basin in order to consider forecast performance in a hydrologically relevant way. The study finds that forecast performance varies with sub-basin properties, between flooding and non-flooding seasons, and with the forecast properties of aggregated time steps and lead times. Although the study does not evaluate any hydrological applications of the ensemble precipitation forecasts, its results have direct implications in hydrological forecasts should these ensemble precipitation forecasts be employed in hydrology

The Combined Forecasts Using the Akaike Weights

The focus in the paper is on the information criteria approach and especially the Akaike information criterion which is used to obtain the Akaike weights. This approach enables to receive not one best model, but several plausible models for which the ranking can be built using the Akaike weights. This set of candidate models is the basis of calculating individual forecasts, and then for combining forecasts using the Akaike weights. The procedure of obtaining the combined forecasts using the AIC weights is proposed. The performance of combining forecasts with the AIC weights and equal weights with regard to individual forecasts obtained from models selected by the AIC criterion and the a posteriori selection method is compared in simulation experiment. The conditions when the Akaike weights are worth to use in combining forecasts were indicated. The use of the information criteria approach to obtain combined forecasts as an alternative to formal hypothesis testing was recommended.combining forecasts, weighting schemes, information criteria.

Corrective receding horizon EV charge scheduling using short-term solar forecasting

Forecast errors can cause sub-optimal solutions in resource planning optimization, yet they are usually modeled simplistically by statistical models, causing unrealistic impacts on the optimal solutions. In this paper, realistic forecast errors are prescribed, and a corrective approach is proposed to mitigate the negative effects of day-ahead persistence forecast error by short-term forecasts from a state-of-the-art sky imager system. These forecasts preserve the spatiotemporal dependence structure of forecast errors avoiding statistical approximations. The performance of the proposed algorithm is tested on a receding horizon quadratic program developed for valley filling the midday net load depression through electric vehicle charging. Throughout one month of simulations the ability to flatten net load is assessed under practical forecast accuracy levels achievable from persistence, sky imager and perfect forecasts. Compared to using day-ahead persistence solar forecasts, the proposed corrective approach using sky imager forecasts delivers a 25% reduction in the standard deviation of the daily net load. It is demonstrated that correcting day-ahead forecasts in real time with more accurate short-term forecasts benefits the valley filling solution