Theil Index - Meaning of "U"

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:

    I am quite serious when I say that I do not believe there are, on the whole earth besides, so many intensified bores as in these United States. No man can form an adequate idea of the real meaning of the word, without coming here.
    Charles Dickens (1812–1870)

    ‘Tis good to give a stranger a meal or a night’s lodging. ‘Tis better to be hospitable to his good meaning and thought, and give courage to a companion. We must be as courteous to a man as we are to a picture, which we are willing to give the advantage of a good light.
    Ralph Waldo Emerson (1803–1882)