statistical forecast

statistical forecast

[stə′tis·tə·kəl ′fȯr‚kast]
(meteorology)
A weather forecast based upon a systematic statistical examination of the past behavior of the atmosphere, as distinguished from a forecast based upon thermodynamic and hydrodynamic considerations.
Mentioned in ?
References in periodicals archive ?
Apart from the above elements, the Hemoglobinopathies Market research report provides a 360-degree view of the Hemoglobinopathies industry with geographic segmentation, statistical forecast and the competitive landscape.
The revenue management method initially adopted in the multifamily industry followed the statistical forecast model as a platform to determine the price.
The dull statistical forecast is no competition for these colourful but often groundless tales, so it gets adjusted.
Instead, a management team usually reviews and overrides the statistical forecast before giving the revised version its blessing as the official company projection of future demand.
For example, managers may formulate a judgemental forecast independently of the statistical forecast and then arrive at a compromise between the two, or they may ignore the statistical forecast so that the resulting forecast is purely judgemental, or they may use a statistical forecast as an anchor[18].
This may involve temporary reassignment of job duties for user and preparer personnel or filling in with temporary employees to free up time for statistical forecast development.
A superior approach is the use of statistical forecasts as a starting point for seeding the budget.
0 allows organisations to generate statistical forecasts and model possible scenarios for their supply chain operations.

Full browser ?