I have observed rainfall data and would like to know how well they represent the predicted data. My first idea was to show the data on a scatter plot. Plotting x =observed vs y = predicted I set the axis to equal length as well as that the plots are square sizes.
t x y
1 2.3 3
2 1 1.5
3 4.4 4.8
Then I thought I am showing the Pearson correlation coefficient; however I am not sure what are the best ways to show how good my data are.
What other ways exist to assess such data? What would be a sound way to represent the fit of the data and represent it to other? Any creative ideas?