Glossary entry

English term or phrase:

forecast

English answer:

yes it is - use as is

Added to glossary by zax
Apr 28, 2008 18:36
16 yrs ago
20 viewers *
English term

forecast

English Science Economics modeling
Is ‘forecast’ appropriate here, or should ‘predict’ or ‘project’ or prognose’ be used? It is a text describin a macro-economic model that predicts GDP growth etc.

"First, the theoretical assumptions the model is based on as well as its scale could affect both the overall quality and the forecasting capacities of that model."

Throughout the document, different forms of forecast are used over and over. Are there rules about using the term forcast or prediction when applied to models or analytical opinions?

Three more example sentences:

The price of crude oil is predicted on the basis of world market forecasts and intergovernmental agreement between Belarus and Russia on terms of oil supply.

In order to forecast oil price for Belarus over a period of 2010-2011, the duty for Belarus has been calculated on the basis of information available for 2009.

The employment forcast is produced by assuming an unchanged ‘full employment’ policy.
Responses
5 +3 yes it is
Change log

Apr 29, 2008 17:38: zax Created KOG entry

Responses

+3
2 hrs
Selected

yes it is

Forecasting in economics is usually based on regression analysis.
Peer comment(s):

agree Phong Le
5 hrs
Thanks, Phong
agree Gary D
12 hrs
Thanks, Gary
agree V_Nedkov
16 hrs
Thanks, V_N
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4 KudoZ points awarded for this answer. Comment: "thanks zax!"
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