Analysis of forecasters' interest rate predictions over the period 19821990 was intended to see whether the predictions
Question:
(a) Calculate each probability (ivi) and explain in words what it means.
(b) Do you think that the forecasters' predictions were accurate? Explain. (Data are from R. A. Kolb and H. O. Steckler, "How Well Do Analysts Forecast Interest Rates?" Journal of Forecasting 15, no. 15 [1996], pp. 385394.)
i. P(F€“)
ii. P(A+)
iii. P(A€“ | F€“)
iv. P(A+ | F+)
v. P(A+ and F+)
vi. P(A€“ and F€“)
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Related Book For
Applied Statistics In Business And Economics
ISBN: 9780073521480
4th Edition
Authors: David Doane, Lori Seward
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