Relative-error prediction

We derive the form of the best mean squared relative error predictor of Y given X. Some methods of estimating predictors with good relative error properties are proposed and studied via simulation. The methods are illustrated with an example in which county-level gasoline sales are predicted from county-level population.

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Year of publication:	1998
Authors:	Park, Heungsun ; Stefanski, L. A.
Published in:	Statistics & Probability Letters. - Elsevier, ISSN 0167-7152. - Vol. 40.1998, 3, p. 227-236
Publisher:	Elsevier
Keywords:	Prediction Power-of-the-mean model Relative error Relative least squares Variance function

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005138068