Concept map: Prediction intervals and quantiles
Prerequisites (two levels) and direct dependents of Prediction intervals and quantiles. Show everything
- 5prerequisites shown
- 2direct dependents
- 3lessons use it
Insights 23
- Treat a funnel-shaped residual plot as a modelling decision, not cosmetic noise
- Do not present the spread of tree predictions in a forest as a prediction interval
- Treat Monte Carlo dropout uncertainty as a signal to validate, not a calibrated interval
- Present forecasts to decision makers as ranges tied to the actions they support
- Replace probability words with numeric ranges in written risk statements
- Use quantile dotplots, not only interval bars, when non-specialists decide under uncertainty
- Widen or label scenario forecasts because they exclude uncertainty in the assumed drivers
- Evaluate prediction intervals on coverage and width together
Projects 8
- Flagship: final bookings per departure from booking-curve snapshots
- Route-day passenger backtest and the capacity/price what-if: forecasts are not causal answers
- Intermittent weekly demand for a gift-ware wholesaler: beating the zero forecast honestly
- Coherent store, department and item forecasts with hierarchical reconciliation
- Meal uplift per flight: prediction intervals and a newsvendor quantile from asymmetric costs
- Zero-shot time-series foundation models vs strong baselines on post-release monthly data (docs-only)
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