• Title/Summary/Keyword: ARIMA Forecasting

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Statistical model for forecasting uranium prices to estimate the nuclear fuel cycle cost

  • Kim, Sungki;Ko, Wonil;Nam, Hyoon;Kim, Chulmin;Chung, Yanghon;Bang, Sungsig
    • Nuclear Engineering and Technology
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    • v.49 no.5
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    • pp.1063-1070
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    • 2017
  • This paper presents a method for forecasting future uranium prices that is used as input data to calculate the uranium cost, which is a rational key cost driver of the nuclear fuel cycle cost. In other words, the statistical autoregressive integrated moving average (ARIMA) model and existing engineering cost estimation method, the so-called escalation rate model, were subjected to a comparative analysis. When the uranium price was forecasted in 2015, the margin of error of the ARIMA model forecasting was calculated and found to be 5.4%, whereas the escalation rate model was found to have a margin of error of 7.32%. Thus, it was verified that the ARIMA model is more suitable than the escalation rate model at decreasing uncertainty in nuclear fuel cycle cost calculation.

Forecasting of Water Quality in Chinyang Reservoir Using ARIMA Model (ARIMA 모형을 이용한 진양호 수질의 장래예측)

  • Kim, Jong-oh;Yoo, Hwan-Hee;Kim, Ok-Sun;Park, Jung-Seok
    • Journal of Wetlands Research
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    • v.1 no.1
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    • pp.17-28
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    • 1999
  • The purpose of this study was to analysis water quality monitoring data and to estimate future trends using ARIMA model of time series analysis. Water quality data in Chin yang reservoir were used with monthly monitoring interval during past 7 years. The variations of water quality parameters with periodicity and trend could be estimated by multiplicative ARIMA models and the statistical tests showed a good agreement with the observed data. Therefore, the monthly values of water quality parameters could be forecasted using these models.

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A Study on the Load Forecasting Methods of Peak Electricity Demand Controller (최대수요전력 관리 장치의 부하 예측에 관한 연구)

  • Kong, In-Yeup
    • IEMEK Journal of Embedded Systems and Applications
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    • v.9 no.3
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    • pp.137-143
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    • 2014
  • Demand Controller is a load control device that monitor the current power consumption and calculate the forecast power to not exceed the power set by consumer. Accurate demand forecasting is important because of controlling the load use the way that sound a warning and then blocking the load when if forecasted demand exceed the power set by consumer. When if consumer with fluctuating power consumption use the existing forecasting method, management of demand control has the disadvantage of not stable. In this paper, load forecasting of the unit of seconds using the Exponential Smoothing Methods, ARIMA model, Kalman Filter is proposed. Also simulation of load forecasting of the unit of the seconds methods and existing forecasting methods is performed and analyzed the accuracy. As a result of simulation, the accuracy of load forecasting methods in seconds is higher.

Forecasting of Rental Demand for Public Bicycles Using a Deep Learning Model (딥러닝 모형을 활용한 공공자전거 대여량 예측에 관한 연구)

  • Cho, Keun-min;Lee, Sang-Soo;Nam, Doohee
    • The Journal of The Korea Institute of Intelligent Transport Systems
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    • v.19 no.3
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    • pp.28-37
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    • 2020
  • This study developed a deep learning model that predicts rental demand for public bicycles. For this, public bicycle rental data, weather data, and subway usage data were collected. After building an exponential smoothing model, ARIMA model and LSTM-based deep learning model, forecasting errors were compared and evaluated using MSE and MAE evaluation indicators. Based on the analysis results, MSE 348.74 and MAE 14.15 were calculated using the exponential smoothing model. The ARIMA model produced MSE 170.10 and MAE 9.30 values. In addition, MSE 120.22 and MAE 6.76 values were calculated using the deep learning model. Compared to the value of the exponential smoothing model, the MSE of the ARIMA model decreased by 51% and the MAE by 34%. In addition, the MSE of the deep learning model decreased by 66% and the MAE by 52%, which was found to have the least error in the deep learning model. These results show that the prediction error in public bicycle rental demand forecasting can be greatly reduced by applying the deep learning model.

Forecasting the Container Throughput of the Busan Port using a Seasonal Multiplicative ARIMA Model (승법계절 ARIMA 모형에 의한 부산항 컨테이너 물동량 추정과 예측)

  • Yi, Ghae-Deug
    • Journal of Korea Port Economic Association
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    • v.29 no.3
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    • pp.1-23
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    • 2013
  • This paper estimates and forecasts the container throughput of Busan port using the monthly data for years 1992-2011. To do this, this paper uses the several seasonal multiplicative ARIMA models. Among several ARIMA models, the seasonal multiplicative ARIMA model $(1,0,1){\times}(1,0,1)_{12}$ is selected as the best model by AIC, SC and Hannan-Quin information criteria. According to the forecasting values of the selected seasonal multiplicative ARIMA model $(1,0,1){\times}(1,0,1)_{12}$, the container throughput of Busan port for 2013-2020 will increase steadily annually, but there will be some volatile variations monthly due to the seasonality and other factors. Thus, to forecast the future container throughput of Busan port and to develop the Busan port efficiently, we need to use and analyze the seasonal multiplicative ARIMA model $(1,0,1){\times}(1,0,1)_{12}$.

A Study on the Demand Forecasting by using Transfer Function with the Short Term Time Series and Analyzing the Effect of Marketing Policy (단기 시계열 제품의 전이함수를 이용한 수요예측과 마케팅 정책에 미치는 영향에 관한 연구)

  • Seo, Myeong-Yu;Rhee, Jong-Tae
    • IE interfaces
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    • v.16 no.4
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    • pp.400-410
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    • 2003
  • Most of the demand forecasting which have been studied is about long-term time series over 15 years demand forecasting. In this paper, we set up the most optimal ARIMA model for the short-term time series demand forecasting and suggest demand forecasting system for short-term time series by appraising suitability and predictability. We are going to use the univariate ARIMA model in parallel with the bivariate transfer function model to improve the accuracy of forecasting. We also analyze the effect of advertisement cost, scale of branch stores, and number of clerk on the establishment of marketing policy by applying statistical methods. After then we are going to show you customer's needs, which are number of buying products. We have applied this method to forecast the annual sales of refrigerator in four branch stores of A company.

A Study on Forecasting Visit Demands of Korea National Park Using Seasonal ARIMA Model (계절 ARIMA 모형을 이용한 국립공원 탐방수요 예측)

  • Sim, Kyu-Won;Kwon, Heon-Gyo
    • Journal of Korean Society of Forest Science
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    • v.100 no.1
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    • pp.124-130
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    • 2011
  • This study was conducted to find out appropriate model and forecast visit demand of korea national parks using seasonal ARIMA model. Data of monthly visitors uses of 18 korea national parks from January, 2003 to December, 2010 was used to analyze. The result showed that $ARIMA(1,0,0)(1,1,0)_{12}$ model was selected as a appropriate model to forecast visit demand of korea national parks and the result of post evaluation used by index of mean absolute percentage error was accurate. Therefore, the result of this study will enhance reliability and validity of forecasting technique and contribute to management strategy of korea national park.

Manpower Demand Forecasting in Private Security Industry (민간경비 산업의 인력수요예측)

  • Kim, Sang-Ho
    • Korean Security Journal
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    • no.19
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    • pp.1-21
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    • 2009
  • Manpower demand forecasting in private security industry can be used for both policy and information function. At a time when police agencies have fewer resources to accomplish their goals, forming partnership with private security firms should be a viable means to choose. But without precise understanding of each other, their partnership could be superficial. At the same time, an important debate is coming out whether security industry will continue to expand in numbers of employees, or level-off in the near future. Such debates are especially important for young people considering careers in private security industry. Recently, ARIMA model has been widely used as a reliable instrument in the many field of industry for demand forecasting. An ARIMA model predicts a value in a response time series as a linear combination of its own past values, past errors, and current and past values of other time series. This study conducts a short-term forecast of manpower demand in private security industry using ARIMA model. After obtaining yearly data of private security officers from 1976 to 2008, this paper are forecasting future trends and proposing some policy orientations. The result shows that ARIMA(0, 2, 1) model is the most appropriate one and forecasts a minimum of 137,387 to maximum 190,124 private security officers will be needed in 2013. The conclusions discuss some implications and predictable changes in policing and coping strategies public police and private security can take.

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A Study on forecasting container volume of port using SD and ARIMA

  • Kim, Jong-Kil;Pak, Ji-Yeong;Wang, Ying;Park, Sung-Il;Yeo, Gi-Tae
    • Journal of Navigation and Port Research
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    • v.35 no.4
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    • pp.343-349
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    • 2011
  • The forecasting of container volume which is the basis of port logistics facilities expansion has a great influence on development of an port. Based on this importance, various previous studies have presented methodology on container volume forecasting. The results of many previous studies pointed out the limitations of future forecasting based on past container volume and emphasized that more various factors should be considered to compensate this. Taking notice of this point, this study forecasted future container volume by using ARIMA model, time series analysis and System Dynamics (SD) method, a dynamic analysis technique and performed the comparative review with the forecast of the Ministry of Land, Transport and Maritime affairs. Recently with rapid changes in economic and social environment, the non-linear change tendency for forecasting container traffic is presented as a new alternative to the country.