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

Yıl 2012, Cilt: 2 Sayı: 3, 312 - 319, 01.09.2012

Gholam Hossein Hasantash Hamidreza Mostafaei Shaghayegh Kordnoori

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

Yıl 2012, Cilt: 2 Sayı: 3, 312 - 319, 01.09.2012

Gholam Hossein Hasantash Hamidreza Mostafaei Shaghayegh Kordnoori

Öz

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Ayrıntılar

Diğer ID JA63KP85SK
Bölüm Araştırma Makalesi
Yazarlar

Gholam Hossein Hasantash Bu kişi benim

Hamidreza Mostafaei Bu kişi benim

Shaghayegh Kordnoori Bu kişi benim

Yayımlanma Tarihi 1 Eylül 2012
Yayımlandığı Sayı Yıl 2012 Cilt: 2 Sayı: 3

Kaynak Göster

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.
AMA Hasantash GH, Mostafaei H, Kordnoori S. Modelling the Errors of EIA’s Oil Prices and Production Forecasts by the Grey Markov Model. IJEFI. Eylül 2012;2(3):312-319.
Chicago Hasantash, Gholam Hossein, Hamidreza Mostafaei, ve Shaghayegh Kordnoori. “Modelling the Errors of EIA’s Oil Prices and Production Forecasts by the Grey Markov Model”. International Journal of Economics and Financial Issues 2, sy. 3 (Eylül 2012): 312-19.
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 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, 2012.
ISNAD 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 2/3 (Eylül 2012), 312-319.
JAMA 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, 2012, ss. 312-9.
Vancouver 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):312-9.