TeachMeFinance.com - explain Ensembles
Ensembles The term 'Ensembles' as it applies to the area of the weather can be defined as ' Reference to a set of computer models run under the concept of Ensemble Forecasting: multiple predictions from an ensemble of models with slightly different initial conditions used as input and/or slightly different 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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