Modeling and Forecasting Average Temperature for Weather Derivative Pricing

<table class="table-group" id="tab1"><tr><td><table class="table"><tr><td class="thead-hr" colspan="7"><hr/></td></tr><tr class="thead"><td align="left">Mean</td><td align="center">Variance</td><td align="center">Standard deviation</td><td align="center">Range</td><td align="center">Skewness</td><td align="center">Kurtosis </td><td align="center">Median</td></tr><tr><td class="thead-hr" colspan="7"><hr/></td></tr><tr><td align="left">145.4011</td><td align="center">10276.9642</td><td align="center">101.3754</td><td align="center">475</td><td align="center">−0.16835</td><td align="center">1.781</td><td align="center">155</td></tr><tr class="table-tr"><td colspan="7"><hr class="tbody-hr"/></td></tr></table></td></tr></table>

Descriptive statistics of daily average temperature of Zhengzhou (1951–2013).

Advances in Meteorology

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Table 1

Table 1: Modeling and Forecasting Average Temperature for Weather Derivative Pricing 