Weather Forecasting for Weather Derivatives



Table 1

Point Forecast Accuracy Comparisons
Daily Average Temperature

1-Day Ahead

3-Day-Ahead

5-Day-Ahead

7-Day-Ahead

9-Day-Ahead

11-Day-Ahead

Atlanta

Persistence

4.50

8.00

8.72

9.07

8.99

9.28

Climatological

6.93

6.88

6.84

7.04

6.93

6.59

Autoregressive

4.12

6.45

6.69

7.03

6.89

6.59

EarthSat

2.74

3.84

5.10

6.04

6.65

7.00

Chicago

Persistence

6.73

10.50

11.06

11.54

11.74

11.99

Climatological

8.74

8.72

8.72

8.50

8.88

8.55

Autoregressive

6.06

8.38

8.57

8.45

8.84

8.53

EarthSat

3.22

4.70

6.31

7.46

8.48

8.92

Las Vegas

Persistence

3.78

6.15

7.08

7.71

7.96

7.93

Climatological

5.99

5.85

5.80

6.02

5.97

5.80

Autoregressive

3.57

5.20

5.58

5.92

5.97

5.78

EarthSat

2.54

3.28

4.19

5.32

5.81

6.04

Philadelphia

Persistence

5.53

8.83

9.83

9.87

9.55

10.18

Climatological

7.12

6.95

7.27

7.19

6.98

7.19

Autoregressive

4.95

6.74

7.23

7.15

6.95

7.08

EarthSat

2.61

3.91

5.35

6.26

7.24

8.37



More intriguing information

1. PRIORITIES IN THE CHANGING WORLD OF AGRICULTURE
2. Financial Markets and International Risk Sharing
3. A Computational Model of Children's Semantic Memory
4. CROSS-COMMODITY PERSPECTIVE ON CONTRACTING: EVIDENCE FROM MISSISSIPPI
5. The name is absent
6. Optimal Rent Extraction in Pre-Industrial England and France – Default Risk and Monitoring Costs
7. The name is absent
8. The name is absent
9. Searching Threshold Inflation for India
10. The name is absent