Open Roy-Forethought opened 3 years ago
new_data
, but this would be a useful improvement. Until this works, you can simply use new_data
with NA
values for the future regressors.Income
, Savings
, and Unemployment
- all of which are percentage changes. The scenarios()
function simply allows multiple new_data
inputs to the forecast()
(and generate()
function - it doesn't do any calculations like percentage changes.
Hi, I've run into some issues and wanted to clarify two points.
First, when using a dynamic regression model to create forecasts for the next 3 periods, are future values required even when all the predictors are lagged (see below example)?
example = ARIMA(DV ~ trend() + season()
Second, I have attempted to use scenario-based forecasting (as outlined in Chp 7.6) and wanted to seek clarification on the code (see example below taken from the text. The text describes the numbers bolded below as percentage increase, but how does this translate in the code? When I run the code, it simply creates a dataframe with 1 and 0.5?
future_scenarios <- scenarios( Increase = new_data(us_change, 4) %>% mutate(Income=1, Savings=0.5, Unemployment=0), Decrease = new_data(us_change, 4) %>% mutate(Income=-1, Savings=-0.5, Unemployment=0), names_to = "Scenario")
Apologies if I have left some information out and thank you for any help.