• Title/Summary/Keyword: Monthly forecasting

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A study of an oyster monthly forecasting model using the structural equation model approach based on a panel analysis

  • Sukho Han;Seonghwan Song;Sujin Heo;Namsu Lee
    • Korean Journal of Agricultural Science
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    • v.49 no.4
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    • pp.949-961
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    • 2022
  • The purpose of this study is to build an oyster outlook model. In particular, by limiting oyster items, it was designed as a partial equilibrium model based on a panel analysis of a fixed effect model on aquaculture facilities. The model was built with a dynamic ecological equation (DEEM) system that considers aquaculture and harvesting processes. As a result of the estimation of the initial aquaculture facilities based on the panel analysis, the elasticity of the remaining facility volume in the previous month was estimated to be 0.63. According to Nerlove's model, the adjustment coefficient was interpreted as 0.31 and the adjustment speed was analyzed to be very slow. Also, the relative income coefficient was estimated to be 2.41. In terms of elasticity, it was estimated as 0.08% in Gyeongnam, 0.32% in Jeonnam, and 1.98% in other regions. It was analyzed that the elasticity of relative income was accordingly higher in non-main production area. In case of the estimation of the monthly harvest facility volume, the elasticity of the remaining facility volume in the previous month was estimated as 0.53, and the elasticity of the farm-gate price was estimated as 0.23. Both fresh and chilled and frozen oysters' exports were estimated to be sensitive to fluctuations in domestic prices and exchange rates, while Japanese wholesale prices were estimated to be relatively low in sensitivity, especially to the exchange rate with Japan. In estimating the farm-gate price, the price elasticity coefficient of monthly production was estimated to be inelastic at 0.25.

A Case Study on Crime Prediction using Time Series Models (시계열 모형을 이용한 범죄예측 사례연구)

  • Joo, Il-Yeob
    • Korean Security Journal
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    • no.30
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    • pp.139-169
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    • 2012
  • The purpose of this study is to contribute to establishing the scientific policing policies through deriving the time series models that can forecast the occurrence of major crimes such as murder, robbery, burglary, rape, violence and identifying the occurrence of major crimes using the models. In order to achieve this purpose, there were performed the statistical methods such as Generation of Time Series Model(C) for identifying the forecasting models of time series, Generation of Time Series Model(C) and Sequential Chart of Time Series(N) for identifying the accuracy of the forecasting models of time series on the monthly incidence of major crimes from 2002 to 2010 using IBM PASW(SPSS) 19.0. The following is the result of the study. First, murder, robbery, rape, theft and violence crime's forecasting models of time series are Simple Season, Winters Multiplicative, ARIMA(0,1,1)(0,1,1), ARIMA(1,1,0 )(0,1,1) and Simple Season. Second, it is possible to forecast the short-term's occurrence of major crimes such as murder, robbery, burglary, rape, violence using the forecasting models of time series. Based on the result of this study, we have to suggest various forecasting models of time series continuously, and have to concern the long-term forecasting models of time series which is based on the quarterly, yearly incidence of major crimes.

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CASH FLOW FORECASTING IN CONSTRUCTION PROJECT (건설공사에서의 현금흐름 예측)

  • Park Hyung-Keun
    • Proceedings of the Korean Institute Of Construction Engineering and Management
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    • autumn
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    • pp.35-41
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    • 2002
  • This research introduces the development of a project-level cash flow forecasting model in construction stage based on the planned earned value and the cost from a general contractors view on a jobsite. Most previous models have been developed to assist contractors in their pre-tendering or planning stage cash flow forecasts. The critical key to cash flow forecasting at the project level is how to build a cash-out model. The basic concept is to use moving weights of cost categories in a budget over project duration. The cost categories are classified to compile resources with almost the same time lags that are based on contracting payment conditions and credit times given by suppliers or venders. For cash-in, net planned monthly-earned values are simply transferred to the cash-in forecast, to be applied there with billing time and retention money. Validation of the model involves applying data from on-going 4 projects in progress for 12 months. Based on the results of the comparative analyses through the simulation of the proposed model and the existing models, the proposed model is more accurate, flexible and simpler than traditional models to the employee of construction jobsite who is not oriented financial knowledge.

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Development of a Computer-assisted Cost Accounting System Prototype for Hospital Dietetics (병원 영양과의 재무관리 시스템 전산화 모델에 관한 연구)

  • 최성경
    • Journal of Nutrition and Health
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    • v.20 no.6
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    • pp.442-455
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    • 1987
  • The purpose of the study were to assist foodservice managers in complex decision making by utilizing computerized cost accounting system and to relieve managers from repetitive and routine tasks so that more adequate patient care and consultation can be provided. The scope of the computer-assisted cost accounting system consists of budget, menu planning, purchasing, inventory, cost control and financial reporting. The content of the computerized system are summarized as follows ; 1) For budgeting monthly income was estimated by calculating unit cost of each meal and forecasting serving numbers. The actual serving numbers for patients and employees were totaled everyday, and utilized as the basic data base for estimating income and planning menu. The monthly lists of meal sensus were generated. 2) for menu planning concersion factors were computed based on the standarized recipe for 50 servings. Daily menus for patients and employees which include total amounts of each ingredient and cost analyzed information were generated. 3) Daily and monthly purchasing report for each food item classified by patient and employee meals were generated. 4) Inventory transactions such as recipts and issues were totalized daily for each stocked item, and monthly inventory reports were generated. 5) Cost analysis reports for each menu item were generated into two ways based on the budget coat as well as the purchasing cost. 6) Editing new recipes and updating food costs change to the data base were carried out. 7) Financial reports were generated monthly, first-half and second-half of the year, and yearly basis.

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Analysis of Apartment Power Consumption and Forecast of Power Consumption Based on Deep Learning (공동주택 전력 소비 데이터 분석 및 딥러닝을 사용한 전력 소비 예측)

  • Yoo, Namjo;Lee, Eunae;Chung, Beom Jin;Kim, Dong Sik
    • Journal of IKEEE
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    • v.23 no.4
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    • pp.1373-1380
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    • 2019
  • In order to increase energy efficiency, developments of the advanced metering infrastructure (AMI) in the smart grid technology have recently been actively conducted. An essential part of AMI is analyzing power consumption and forecasting consumption patterns. In this paper, we analyze the power consumption and summarized the data errors. Monthly power consumption patterns are also analyzed using the k-means clustering algorithm. Forecasting the consumption pattern by each household is difficult. Therefore, we first classify the data into 100 clusters and then predict the average of the next day as the daily average of the clusters based on the deep neural network. Using practically collected AMI data, we analyzed the data errors and could successfully conducted power forecasting based on a clustering technique.

Estimation of ESP Probability considering Weather Outlook (기상예보를 고려한 ESP 유출 확률 산정)

  • Ahn, Jung Min;Lee, Sang Jin;Kim, Jeong Kon;Kim, Joo Cheol;Maeng, Seung Jin;Woo, Dong Hyeon
    • Journal of Korean Society on Water Environment
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    • v.27 no.3
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    • pp.264-272
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    • 2011
  • The objective of this study was to develop a model for predicting long-term runoff in a basin using the ensemble streamflow prediction (ESP) technique and review its reliability. To achieve the objective, this study improved not only the ESP technique based on the ensemble scenario analysis of historical rainfall data but also conventional ESP techniques used in conjunction with qualitative climate forecasting information, and analyzed and assessed their improvement effects. The model was applied to the Geum River basin. To undertake runoff forecasting, this study tried three cases (case 1: Climate Outlook + ESP, case 2: ESP probability through monthly measured discharge, case 3: Season ESP probability of case 2) according to techniques used to calculate ESP probabilities. As a result, the mean absolute error of runoff forecasts for case 1 proposed by this study was calculated as 295.8 MCM. This suggests that case 1 showed higher reliability in runoff forecasting than case 2 (324 MCM) and case 3 (473.1 MCM). In a discrepancy-ratio accuracy analysis, the Climate Outlook + ESP technique displayed 50.0%. This suggests that runoff forecasting using the Climate Outlook +ESP technique with the lowest absolute error was more reliable than other two cases.

Transfer Function Model Forecasting of Sea Surface Temperature at Yeosu in Korean Coastal Waters (전이함수모형에 의한 여수연안 표면수온 예측)

  • Seong, Ki-Tack;Choi, Yang-Ho;Koo, Jun-Ho;Lee, Mi-Jin
    • Journal of the Korean Society of Marine Environment & Safety
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    • v.20 no.5
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    • pp.526-534
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    • 2014
  • In this study, single-input transfer function model is applied to forecast monthly mean sea surface temperature(SST) in 2010 at Yeosu in Korean coastal waters. As input series, monthly mean air temperature series for ten years(2000-2009) at Yeosu in Korea is used, and Monthly mean SST at Yeosu station in Korean coastal waters is used as output series(the same period of input). To build transfer function model, first, input time series is prewhitened, and then cross-correlation functions between prewhitened input and output series are determined. The cross-correlation functions have just two significant values at time lag at 0 and 1. The lag between input and output series, the order of denominator and the order of numerator of transfer function, (b, r, s) are identified as (0, 1, 0). The selected transfer function model shows that there does not exist the lag between monthly mean air temperature and monthly mean SST, and that transfer function has a first-order autoregressive component for monthly mean SST, and that noise model was identified as $ARIMA(1,0,1)(2,0,0)_{12}$. The forecasted values by the selected transfer function model are generally $0.3-1.3^{\circ}C$ higher than actual SST in 2010 and have 6.4 % mean absolute percentage error(MAPE). The error is 2 % lower than MAPE by ARIMA model. This implies that transfer function model could be more available than ARIMA model in terms of forecasting performance of SST.

Monthly rainfall forecast of Bangladesh using autoregressive integrated moving average method

  • Mahmud, Ishtiak;Bari, Sheikh Hefzul;Rahman, M. Tauhid Ur
    • Environmental Engineering Research
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    • v.22 no.2
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    • pp.162-168
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    • 2017
  • Rainfall is one of the most important phenomena of the natural system. In Bangladesh, agriculture largely depends on the intensity and variability of rainfall. Therefore, an early indication of possible rainfall can help to solve several problems related to agriculture, climate change and natural hazards like flood and drought. Rainfall forecasting could play a significant role in the planning and management of water resource systems also. In this study, univariate Seasonal Autoregressive Integrated Moving Average (SARIMA) model was used to forecast monthly rainfall for twelve months lead-time for thirty rainfall stations of Bangladesh. The best SARIMA model was chosen based on the RMSE and normalized BIC criteria. A validation check for each station was performed on residual series. Residuals were found white noise at almost all stations. Besides, lack of fit test and normalized BIC confirms all the models were fitted satisfactorily. The predicted results from the selected models were compared with the observed data to determine prediction precision. We found that selected models predicted monthly rainfall with a reasonable accuracy. Therefore, year-long rainfall can be forecasted using these models.

Study on Forecasting Hotel Banquet Revenue by Utilizing ARIMA Model (ARIMA 모형을 이용한 호텔 연회의 매출액 예측에 관한 연구)

  • Cho, Sung-Ho;Chang, Se-Jun
    • Culinary science and hospitality research
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    • v.15 no.2
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    • pp.231-242
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    • 2009
  • One of the most crucial information at the hotel banquet is revenue data. Revenue forecast enables cost reduction, increases staffing efficiency, and provides information that helps maximizing competitive advantages in unforeseen environment. This research forecasts the hotel banquet revenue by utilizing ARIMA Model which was assessed as the appropriate forecast model for international researches. The data used for this research was based on the monthly banquet revenue data of G hotel at Seoul. The analysis results showed that SARIMA(2, 1, 3)(0, 1, 1) was finally presumed. This research implied that the ARIMA model, which was assessed as the appropriate forecast model, was applied for analyzing the monthly hotel banquet revenue data. Additionally, the research provides beneficial information with which hotel banquet professionals can utilize as a reference.

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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 $(1,0,1){\times}(1,0,1)_{12}$.