Abstract
The paper adresses accuracy improving of statistical prediction, extracted from a shorter stochastic process, using the information provided by another synchronous highly correlated stochastic process that has been measured for a longer time. As an example, the specific issue of improving extreme wind speed prediction has been addressed. For this purpose, an efficient transfer of information is necessary between two synchronous, highly correlated stochastic processes. To illustrate the efficiency of the proposed technique, two time series of measured wind speed data from North sea oil and gas fields were used.
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