An Investigation of the Forecasting of Aeronautical Price Indices.
AIR FORCE INST OF TECH WRIGHT-PATTERSON AFB OHIO SCHOOL OF ENGINEERING
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An investigation of the forecasts of aeronautical price indices done by the Aeronautical Systems Division ASD of the Air Force Systems Command was performed. The historical price indices used by ASD were recalculated. Using these recalculated composite price indices, different forecasting techniques were examined. When starting with the composite price indices, the per cent change regression, with the Gross Mational Product price deflator as the only independent variable, was recommended as the best forecasting technique. Prediction intervals were calculated. The effect of errors in the Wharton Econometric Forcasting Associates prediction of the Gross National Product price deflator was discussed.
- Economics and Cost Analysis