TeachMeFinance.com - explain Ensemble Forecast
Ensemble Forecast The term 'Ensemble Forecast' as it applies to the area of the weather can be defined as ' Multiple predictions from an ensemble of slightly different initial conditions and/or various versions of models. The objectives are to improve the accuracy of the forecast through averaging the various forecasts, which eliminates non-predictable components, and to provide reliable information on forecast uncertainties from the diversity amongst ensemble members. Forecasters use this tool to measure the likelihood of a forecast'.
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