Series
is the name and variable label of the current series.
Model
is a descriptive label for the model that you specify. You can type a label in this field or allow the system to provide a
label. If you leave the label blank, a label is generated automatically based on the options you specify.
Weight
is a column of the forecasting model table that contains the weight values for each model. The forecasts for the combined
model are computed as a weighted average of the predictions from the models in the table that use these weights. Models with
missing weight values are not included in the forecast combination. You can type weight values in these fields or you can
use other features of the window to set the weights.
Model Description
is a column of the forecasting model table that contains the descriptive labels of the forecasting models fit to the current
series that are available for combination.
Root Mean Square Error
(or other statistic name) button
is the button above the right side of the table. It displays the name of the current model selection criterion: a statistic
that measures how well each model in the table fits the values of the current series for observations within the evaluation
range. Clicking this button opens the Model Selection Criterion window to enable you to select a different statistic.
Normalize Weights
button
replaces each nonmissing value in the Weights column with the current value divided by the sum of the weights. The resulting
weights are proportional to original weights and sum to 1.
Fit Regression Weights
button
computes weight values for the models in the table by regressing the series on the predictions from the models. The values
in the Weights column are replaced by the estimated coefficients produced by this linear regression. If some weight values
are nonmissing and some are missing, only models with nonmissing weight values are included in the regression. If all weights
are missing, all models are used.
OK
closes the Forecast Combination Model Specification window and fits the model.
Cancel
closes the Forecast Combination Model Specification window without fitting the model. Any options you specified are lost.
Reset
resets all options to their initial values upon entry to the Forecast Combination Model Specification window. This might be
useful when editing an existing model specification; otherwise, Reset has the same function as Clear.
Clear
resets all options to their default values.