A comparison of forecasts from least abs
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Terry E. Dielman
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Article
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1986
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John Wiley and Sons
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English
β 462 KB
π 1 views
A Monte Carlo simulation is used to compare forecasts from least absolute value and least squares estimated regression equations. When outliers are present, the least absolute value forecasts are shown to be superior to least squares forecasts. The results emphasize the importance of exercising caut