out of sample definition [closed]

Question

Can anyone explain the difference between “in-sample” and “out-of-sample” forecasts?

Dorrisdorry

What, specifically, are you talking about? Are you talking about data points that lie outside of the sampling distribution mean? – Saucepan

Answer 1

It is statistics speak which in most cases means "using past data to make forecasts of the future". "In sample" refers to the data that you have, and "out of sample" to the data you don't have but want to forecast or estimate.

Venepuncture

Answer 2

The data points used to build the model constitute in sample data where as all the new data points not belonging to the training sample constitute out of sample data.

Margret