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As Mr. Gehrke and his team gauge the depth and water content of the snowpack, other department officials begin forecasting how much water the snowpack will be able to deliver this year.
"One thing that studies consistently show is that Americans are very poor at forecasting how much they will need to retire in the style to which they would like to become accustomed," says Hersh Shefrin, a finance professor at Santa Clara University's Leavey School of Business.
Armed with knowledge about assets such as the location, roof type, number of floors, and usage of a building, she says, engineers could do a better job of forecasting how much damage is likely from a particular level of flooding, wind speed, or ground shaking.
That's the agency charged with forecasting how much any given law would cost or save the country and, in the case of healthcare, how many people would lose or gain insurance.
Then again, predicting oil prices can be as easy as forecasting how much it will snow.
So, the federal government is pushing for utilities to build a "smarter" power grid, one that can adjust power production and flow based on how much electricity homes and businesses are using at any moment and forecasting how much energy can be expected from renewables.
Similar(51)
Few could have forecast how much the Knicks would sink since that loss to Minnesota.
The fund did not forecast how much investment in emerging markets would drop in the next year.
The OBR forecasts how much will be added to – or paid off – the national debt each year.
However, the Bank does not forecast GDP quarter-on-quarter; instead, it forecasts how much bigger GDP will be in each quarter than a year before.
"Then I put sensors in the pan, and we wrote an algorithm to forecast how much time I had before the ceiling tiles gave way".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com