ISSN (Online): 2321-3418
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Medical Sciences and Pharmacy
Open Access

Composite Quantile Probability Predictions: Performance and Coherence Analysis of US COVID-19 Confirmed Infection Cases

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· Pages: 471-489· Vol. 9, No. 12, (2021)· Published: December 11, 2021
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Abstract

An analytical framework is presented for the evaluation of composite probability forecasts using empirical quantiles. The framework is demonstrated via the examination of forecasts of the changes in the number of US COVID-19 confirmed infection cases, applying 18 two-week ahead quantile forecasts from four forecasting organisations. The forecasts are analysed individually for each organisation and in combinations of organisational forecasts to ascertain the highest level of performance. It is shown that the relative error reduction achieved by combining forecasts depends on the extent to which the component forecasts contain independent information. The implications of the study are discussed, suggestions are offered for future research and potential limitations are considered.

Keywords

ForecastsAccuracyProbability ForecastingComposite ForecastsCoherenceCOVID-19
Author details
Mary E. Thomson
Northumbria University, UK
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Andrew C. Pollock
Statistical Analyst, UK
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