Forecasting Result Standards

Calendar Rate vs Instantaneous Rates

It is important to understand that the calendar rates and the instantaneous rates are not the same.

• Calendar rates are the average rate across the desired interval. For example: calendar day rates are the average rates across each day, calendar month rates are the average rates across each month. The rates we receive from the client are calendar day rates.

• Instantaneous rates are the rate at the instant. The instantaneous rate at the end of day t will not be the same as the calendar rate for day t.

Export result standards

• Rates presented for day i are the calendar day rates for day i. The calendar day rate for day i is the difference between instantaneous cumulative production at day i and day i-1.

• Any other variable presented for day i is equal to the instantaneous result for that variable at the end of day i.

• Standard decimal precision for all results is 2 points.

Example export result

Consider the following model results, where the instantaneous results represent an exact solution for a model. The model initial values are:

• Q_i = 0

• q_i = 10

• P_i = 3000

Below is an example table result for the mid case of the plotted results.