Modelling the Errors of EIA’s Oil Prices and Production Forecasts by the Grey Markov Model

Gholam Hossein Hasantash; Hamidreza Mostafaei; Shaghayegh Kordnoori

EN

Modelling the Errors of EIA’s Oil Prices and Production Forecasts by the Grey Markov Model

Öz

Grey theory is about systematic analysis of limited information. The Grey-Markov model can improve the accuracy of forecast range in the random fluctuating data sequence. In this paper, we employed this model in energy system. The average errors of Energy Information Administrations predictions for world oil price and domestic crude oil production from 1982 to 2007 and from 1985 to 2008 respectively were used as two forecasted examples. We showed that the proposed Grey-Markov model can improve the forecast accuracy of original Grey forecast model.

Anahtar Kelimeler

Grey theory, Grey Markov model, EIA, Oil

Ayrıntılar

Birincil Dil

İngilizce

Konular

-

Bölüm

-

Yazarlar

Gholam Hossein Hasantash Bu kişi benim

Hamidreza Mostafaei Bu kişi benim

Shaghayegh Kordnoori Bu kişi benim

Yayımlanma Tarihi

1 Eylül 2012

Gönderilme Tarihi

1 Eylül 2012

Kabul Tarihi

-

Yayımlandığı Sayı

Yıl 2012 Cilt: 2 Sayı: 3

IZ

https://izlik.org/JA93RD84XW

Kaynak Göster

RIS / Bibtex

APA

Hasantash, G. H., Mostafaei, H., & Kordnoori, S. (2012). Modelling the Errors of EIA’s Oil Prices and Production Forecasts by the Grey Markov Model. International Journal of Economics and Financial Issues, 2(3), 312-319. https://izlik.org/JA93RD84XW

AMA

1.Hasantash GH, Mostafaei H, Kordnoori S. Modelling the Errors of EIA’s Oil Prices and Production Forecasts by the Grey Markov Model. IJEFI. 2012;2(3):312-319. https://izlik.org/JA93RD84XW

Chicago

Hasantash, Gholam Hossein, Hamidreza Mostafaei, ve Shaghayegh Kordnoori. 2012. “Modelling the Errors of EIA’s Oil Prices and Production Forecasts by the Grey Markov Model”. International Journal of Economics and Financial Issues 2 (3): 312-19. https://izlik.org/JA93RD84XW.

EndNote

Hasantash GH, Mostafaei H, Kordnoori S (01 Eylül 2012) Modelling the Errors of EIA’s Oil Prices and Production Forecasts by the Grey Markov Model. International Journal of Economics and Financial Issues 2 3 312–319.

IEEE

[1]G. H. Hasantash, H. Mostafaei, ve S. Kordnoori, “Modelling the Errors of EIA’s Oil Prices and Production Forecasts by the Grey Markov Model”, IJEFI, c. 2, sy 3, ss. 312–319, Eyl. 2012, [çevrimiçi]. Erişim adresi: https://izlik.org/JA93RD84XW

ISNAD

Hasantash, Gholam Hossein - Mostafaei, Hamidreza - Kordnoori, Shaghayegh. “Modelling the Errors of EIA’s Oil Prices and Production Forecasts by the Grey Markov Model”. International Journal of Economics and Financial Issues 2/3 (01 Eylül 2012): 312-319. https://izlik.org/JA93RD84XW.

JAMA

1.Hasantash GH, Mostafaei H, Kordnoori S. Modelling the Errors of EIA’s Oil Prices and Production Forecasts by the Grey Markov Model. IJEFI. 2012;2:312–319.

MLA

Hasantash, Gholam Hossein, vd. “Modelling the Errors of EIA’s Oil Prices and Production Forecasts by the Grey Markov Model”. International Journal of Economics and Financial Issues, c. 2, sy 3, Eylül 2012, ss. 312-9, https://izlik.org/JA93RD84XW.

Vancouver

1.Gholam Hossein Hasantash, Hamidreza Mostafaei, Shaghayegh Kordnoori. Modelling the Errors of EIA’s Oil Prices and Production Forecasts by the Grey Markov Model. IJEFI [Internet]. 01 Eylül 2012;2(3):312-9. Erişim adresi: https://izlik.org/JA93RD84XW