Combination Forecasts
Combination Forecasts combine the methods discussed above. The advantage is that in most cases accuracy is increased; however a researcher must be careful that the disadvantages of each of the above methods do not combine to produce compound errors in forecasts. Examples of combination forecasts include: “Integration of Judgment and Quantitative Forecasts” and “Simple and Weighted Averages”.
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Famous quotes containing the word combination:
“By the “mud-sill” theory it is assumed that labor and education are incompatible; and any practical combination of them impossible. According to that theory, a blind horse upon a tread-mill, is a perfect illustration of what a laborer should be—all the better for being blind, that he could not tread out of place, or kick understandingly.... Free labor insists on universal education.”
—Abraham Lincoln (1809–1865)