Meaning of "U"
If U = 1 Then the "Naive" (NF1) Method is as good as the current Forecast Method
If U < 1 Then the Forecasting Method is better than the NF1 Method
If U > 1 Then the NF1 Method is better than the Forecasting Method. There is no need to waste time applying further Forecasting methods.
Read more about this topic: Theil Index
Famous quotes containing the words meaning of and/or meaning:
“Semantically, taste is rich and confusing, its etymology as odd and interesting as that of “style.” But while style—deriving from the stylus or pointed rod which Roman scribes used to make marks on wax tablets—suggests activity, taste is more passive.... Etymologically, the word we use derives from the Old French, meaning touch or feel, a sense that is preserved in the current Italian word for a keyboard, tastiera.”
—Stephen Bayley, British historian, art critic. “Taste: The Story of an Idea,” Taste: The Secret Meaning of Things, Random House (1991)
“It’s given new meaning to me of the scientific term black hole.”
—Don Logan, U.S. businessman, president and chief executive of Time Inc. His response when asked how much his company had spent in the last year to develop Pathfinder, Time Inc.’S site on the World Wide Web. Quoted in New York Times, p. D7 (November 13, 1995)