Revisiting Francis Galton's Forecasting Competition
Methodology
2014-10-16 v1
Abstract
This note reexamines the data from a weight-judging competition described in an article by Francis Galton published in 1907. Following the correction of some errors, it is shown that this forecasting competition is an interesting precursor of two more recent developments in the statistical forecasting literature. One is forecast combination, with the mean forecast here exactly coinciding with the outcome, and the second is the use of two-piece frequency and probability distributions to describe asymmetry.
Cite
@article{arxiv.1410.3989,
title = {Revisiting Francis Galton's Forecasting Competition},
author = {Kenneth F. Wallis},
journal= {arXiv preprint arXiv:1410.3989},
year = {2014}
}
Comments
Published in at http://dx.doi.org/10.1214/14-STS468 the Statistical Science (http://www.imstat.org/sts/) by the Institute of Mathematical Statistics (http://www.imstat.org)