I have two tables; 1) observation data 2) prediction data
I want to plot the confidence boundary and prediction interval for this plot(observed vs predicted).
Thanks for any help
Use Theil's prediction-realization diagram.
More specifically, you need to regress actuals on forecasts (and, perhaps, addiotinal factors).This type of regression will lead you to the confidence intervals you need.
@Andrey
Thanks Andrey, How can I implement Theil's diagram? Is it possible to do it in Excel
Try to build a standard regression (data analysis pack in Excel, if I am not mistaken). Column x - forecasts, column y - forecasts.
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