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To: CharlesWayneCT
I suppose this person ignores the weather reports as well, since it’s clear that they revise their forecasts constantly.

Yeah, but not 'after' the fact.

12 posted on 03/05/2010 1:52:48 PM PST by UCANSEE2
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To: UCANSEE2

This isn’t really “after the fact” either, although the initial numbers are about things that supposedly already happened.

It’s really the same princple though. The initial reports exist because they are very helpful, and they are pretty accurate. But over time, they collect a lot more data, and can revise the initial numbers with better numbers. With the weather, what they are predicting is based on what has already happened (measurements), just as the jobs reports are. And just like the weather, the initial data as fed into the models isn’t as accurate as when they have more data (or with weather, data closer to the time you are predicting).


13 posted on 03/05/2010 2:38:59 PM PST by CharlesWayneCT
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