Relative-error prediction

Heungsun Park and L. A. Stefanski

Statistics & Probability Letters, 1998, vol. 40, issue 3, 227-236

Abstract: 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.

Keywords: Prediction; Power-of-the-mean; model; Relative; error; Relative; least; squares; Variance; function (search for similar items in EconPapers)
Date: 1998
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Citations: View citations in EconPapers (16)

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