“…Further, wavelet packets (a generalisation of wavelets which results in a much richer set of potential basis functions) have been used in modeling transient underwater signals (Learned and Willsky, 1995), sales data (Michis, 2009), wastewater filtering (Lee et al, 2009), sleep state modeling ) and wind speed prediction (Hunt and Nason, 2001;Nason and Sapatinas, 2002). The greater flexibility of wavelet packets comes at a price; the number of potential covariates given n observations on a single predictor variable is log 2 (n) when using the non-decimated wavelet transform, but 2n − 2 when using the non-decimated wavelet packet transform.…”