Please turn off your ad blocker so we can further develop the platform.
Definition: Forecasting
Category: OECD - Data and Metadata Reporting
"Forecasting" and "prediction" are often used synonymously in the customary sense of assessing the magnitude which a quantity will assume at some future point of time: as distinct from "estimation" which attempts to assess the magnitude of an already existent quantity. http://ec.europa.eu/eurostat/ramon/coded_files/OECD_data_metadata_report_handbook_EN.pdf
Source:
Marriott, F.H.C., 1990, A Dictionary of Statistical Terms, 5th ed., Longman Scientific and Technical, Burnt Mill, Harlow, Essex, England, for the International Statistical Institute [quoted in Organisation for Economic Co-operation and Development (OECD), "Data and Metadata Reporting and Presentation Handbook", OECD, Paris, 2007]
Marriott, F.H.C., 1990, A Dictionary of Statistical Terms, 5th ed., Longman Scientific and Technical, Burnt Mill, Harlow, Essex, England, for the International Statistical Institute [quoted in Organisation for Economic Co-operation and Development (OECD), "Data and Metadata Reporting and Presentation Handbook", OECD, Paris, 2007]
Created:
Updated: