We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
Petroleum demand forecasting for Taiwan using modified fuzzy-grey algorithms.
- Authors
Lu, Shin ‐ Li; Tsai, Chen ‐ Fang
- Abstract
In this paper, we adopt the exponentially weighted moving average (EWMA) method to develop the residual modification EWMA grey forecasting model REGM(1,1) and combines it with fuzzy theory to derive the fuzzy REGM or the FREGM(1,1) model. The proposed model is used to forecast annual petroleum demand in Taiwan. The experimental results show that the mean absolute percentage errors, median absolute percentage error, and symmetric mean absolute percentage error of FREGM(1,1) model are higher by 23.71, 12.26, and 23.06% respectively, compared with those obtained using the traditional GM(1,1) model.
- Subjects
TAIWAN; PETROLEUM supply &; demand forecasting; GRAY forecasting model; MATHEMATICAL models of forecasting; FUZZY logic
- Publication
Expert Systems, 2016, Vol 33, Issue 1, p60
- ISSN
0266-4720
- Publication type
Article
- DOI
10.1111/exsy.12129