STANDARD DEVIATION OF FORECASTING ERRORS
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How to calculate standard deviations of forecasting errors ? I have 24 hrs(24 periods) time horizon of a particular day. I want to calculate standard deviations of forecasting errors of electrical demand and wind power at 10th period. The forecasting value of demand at 10th period is 1200 MW and forecasting value of wind at 10th period is 1000 MW, since we are forecasting, we will not have actual values. please help ?
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John D'Errico
2017-6-6
It is not a standard deviation really, because you don't have an actual. But if you were to use Google, a search perhaps on the key words:
time series standard error of prediction
I'd bet that you might find some useful ideas.
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2017-6-6
2017-6-6
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