Paper Information

Journal:   JOURNAL OF OPERATIONAL RESEARCH AND ITS APPLICATIONS (JOURNAL OF APPLIED MATHEMATICS)   WINTER 2016 , Volume 12 , Number 4 (47); Page(s) 83 To 97.
 
Paper: 

COMPARING THE OPERATING OF GREY FORECASTING MODELS FOR FORECASTING CRUDE OIL PRICE

 
 
Author(s):  JAVANMARD H.*, FAGHIDIAN S.F.
 
* DEPARTMENT OF MANAGEMENT, ARAK BRANCH, ISLAMIC AZAD UNIVERSITY, ARAK, IRAN
 
Abstract: 

Forecasting methods have wide applications in decision making. In the real world, rapid changes normally take place in different areas, specifically in financial markets. Collecting the required data is a main problem for forecaster in such unstable environments .The superiority of grey models over conventional forecasting model is that grey models require only a limited amount of data to predict behaviors of systems without knowing their mathematical models. This paper investigated Grey models for forecasting crude oil price and compared accuracy of models. The results obtained shows that operating of Rolling Grey and Grey M (1, 1) are better than another using models.

 
Keyword(s): GREY FORECASTING MODEL, ROLLING GREY MODEL, GREY VERHULST MODEL, NOVEL GREY MODEL, CRUDE OIL PRICE
 
References: 
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