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Warning: Do Not Just Average Predictions
The partial information framework can be used to analyze real-world forecasting data
Mon, 08/21/2017 - 12:01
At a 1906 livestock show in Plymouth, England, nearly 800 people participated in a contest to guess the weight of a slaughtered ox. The average of these estimates was 1,197 pounds. This is remarkable because the true weight of the ox turned out to…
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