How Good Are FiveThirtyEight Forecasts?
https://projects.fivethirtyeight.com/checking-our-work/ [projects.fivethirtyeight.com]
2023-05-19 16:30
Here, we’re looking at two main things: the calibration of a forecast — that is, whether events that we said would happen 30 percent of the time actually happened about 30 percent of the time — and how our forecast compared with an unskilled estimate that relies solely on historical averages. We can answer those questions using calibration plots and skill scores, respectively.