Describe the combination forecast techniques and discuss how they have been shown to perform in recent studies
What will be an ideal response?
Combination forecasts are forecasts that are produced by averaging independent forecasts based on different methods, different sources, or different data. Research during the last two decades suggests that combining forecasts from multiple sources often produces more accurate forecasts. It is intriguing that combination forecasts often perform better over time than even the best single forecasting procedure. Combining is most effective when the individual forecasts bring different kinds of information into the forecasting process. Forecasters have achieved excellent results by weighting forecasts equally, and this is a good starting point. However, unequal weights may provide better results under some conditions.
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