• Structural Monitoring and Maintenance
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• 제10권2호
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• pp.175-190
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• 2023

This article aims to quantitatively predict the snowmelt in extreme cold regions, considering a combination of grayscale and neural models. The traditional non-equidistant GM(1,1) prediction model is optimized by adjusting the time-distance weight matrix, optimizing the background value of the differential equation and optimizing the initial value of the model, and using the BP neural network for the first. The adjusted ice forecast model has an accuracy of 0.984 and posterior variance and the average forecast error value is 1.46%. Compared with the GM(1,1) and BP network models, the accuracy of the prediction results has been significantly improved, and the quantitative prediction of the ice sheet is more accurate. The monitoring and maintenance of the structure by quantitative prediction model by gray models was clearly demonstrated in the model.

• The Korean Journal of Applied Statistics
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• 제36권1호
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• pp.49-62
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• 2023

Solar energy, which is rapidly increasing in proportion, is being continuously developed and invested. As the installation of new and renewable energy policy green new deal and home solar panels increases, the supply of solar energy in Korea is gradually expanding, and research on accurate demand prediction of power generation is actively underway. In addition, the importance of solar radiation prediction was identified in that solar radiation prediction is acting as a factor that most influences power generation demand prediction. In addition, this study can confirm the biggest difference in that it attempted to predict solar radiation using medium-term forecast weather data not used in previous studies. In this paper, we combined the multi-linear regression model, KNN, random fores, and SVR model and the clustering technique, K-means, to predict solar radiation by hour, by calculating the probability density function for each cluster. Before using medium-term forecast data, mean absolute error (MAE) and root mean squared error (RMSE) were used as indicators to compare model prediction results. The data were converted into daily data according to the medium-term forecast data format from March 1, 2017 to February 28, 2022. As a result of comparing the predictive performance of the model, the method showed the best performance by predicting daily solar radiation with random forest, classifying dates with similar climate factors, and calculating the probability density function of solar radiation by cluster. In addition, when the prediction results were checked after fitting the model to the medium-term forecast data using this methodology, it was confirmed that the prediction error increased by date. This seems to be due to a prediction error in the mid-term forecast weather data. In future studies, among the weather factors that can be used in the mid-term forecast data, studies that add exogenous variables such as precipitation or apply time series clustering techniques should be conducted.

• Atmosphere
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• 제22권3호
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• pp.287-298
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• 2012

The predictability of heavy precipitation over the Korean Peninsula is studied using THORPEX Interactive Grand Global Ensemble (TIGGE) data. The performance of the six ensemble models is compared through the inconsistency (or jumpiness) and Root Mean Square Error (RMSE) for MSLP, T850 and H500. Grand Ensemble (GE) of the three best ensemble models (ECMWF, UKMO and CMA) with equal weight and without bias correction is consisted. The jumpiness calculated in this study indicates that the GE is more consistent than each single ensemble model. Brier Score (BS) of precipitation also shows that the GE outperforms. The GE is used for a case study of a heavy rainfall event in Korean Peninsula on 9 July 2009. The probability forecast of precipitation using 90 members of the GE and the percentage of 90 members exceeding 90 percentile in climatological Probability Density Function (PDF) of observed precipitation are calculated. As the GE is excellent in possibility of potential detection of heavy rainfall, GE is more skillful than the single ensemble model and can lead to a heavy rainfall warning in medium-range. If the performance of each single ensemble model is also improved, GE can provide better performance.

• Journal of Electrical Engineering and Technology
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• 제13권2호
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• pp.591-598
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• 2018

Short term load forecasts complexly affected by socioeconomic factors and weather variables have non-linear characteristics. Thus far, researchers have improved load forecast technologies through diverse techniques such as artificial neural networks, fuzzy theories, and statistical methods in order to enhance the accuracy of load forecasts. Short term load forecast errors for special days are relatively much higher than that of weekdays. The errors are mainly caused by the irregularity of social activities and insufficient similar past data required for constructing load forecast models. In this study, the load characteristics of Lunar New Year's Day holidays well known for the highest error occurrence holiday period are analyzed to propose a load forecast technique for Lunar New Year's Day holidays. To solve the insufficient input data problem, the similarity of the load patterns of past Lunar New Year's Day holidays having similar patterns was judged by Euclid distance. Lunar New Year's Day holidays periods for 2011-2012 were forecasted by the proposed method which shows that the proposed algorithm yields better results than the comprehensive analysis method or the knowledge-based method.

• Journal of Korean Society for Atmospheric Environment
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• 제19권5호
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• pp.595-610
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• 2003

The statistical indexes such as RMSE (Root Mean Square Error), Mean Bias error, and IOA (Index of agreement) are used to evaluate 3 Dimensional wind and temperature fields predicted by operational meteorological model RAMS (Regional Atmospheric Meteorological System) implemented in CARIS (Chemical Accident Response Information System) for the dispersion forecast of hazardous chemicals in case of the chemical accidents in Korea. The operational atmospheric model, RAMS in CARIS are designed to use GDAPS, GTS, and AWS meteorological data obtained from KMA (Korean Meteorological Administration) for the generation of 3-dimensional initial meteorological fields. The predicted meteorological variables such as wind speed, wind direction, temperature, and precipitation amount, during 19 ∼ 23, August 2002, are extracted at the nearest grid point to the meteorological monitoring sites, and validated against the observations located over the Korean peninsula. The results show that Mean bias and Root Mean Square Error are 0.9 (m/s), 1.85 (m/s) for wind speed at 10 m above the ground, respectively, and 1.45 ($^{\circ}C$), 2.82 ($^{\circ}C$) for surface temperature. Of particular interest is the distribution of forecasting error predicted by RAMS with respect to the altitude; relatively smaller error is found in the near-surface atmosphere for wind and temperature fields, while it grows larger as the altitude increases. Overall, some of the overpredictions in comparisons with the observations are detected for wind and temperature fields, whereas relatively small errors are found in the near-surface atmosphere. This discrepancies are partly attributed to the oversimplified spacing of soil, soil contents and initial temperature fields, suggesting some improvement could probably be gained if the sub-grid scale nature of moisture and temperature fields was taken into account. However, IOA values for the wind field (0.62) as well as temperature field (0.78) is greater than the 'good' value criteria (> 0.5) implied by other studies. The good value of IOA along with relatively small wind field error in the near surface atmosphere implies that, on the basis of current meteorological data for initial fields, RAMS has good potentials to be used as a operational meteorological model in predicting the urban or local scale 3-dimensional wind fields for the dispersion forecast in association with hazardous chemical releases in Korea.

• Journal of the Korea Academia-Industrial cooperation Society
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• 제22권6호
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• pp.453-459
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• 2021

The system marginal price of electricity is the amount paid to all the generating units, which is an important decision-making factor for the construction and maintenance of an electrical power unit. In this paper, we suggest a long-term forecasting model for calculating the system marginal price based on prices of natural gas and oil. As most variables used in the analysis are nonstationary time series, the long run relationship among the variables should be examined by cointegration tests. The forecasting model is similar to an error correction model which consists of a long run cointegrating equation and another equation for short run dynamics. To mitigate the robustness issue arising from the relatively small data sample, this study employs various testing and estimating methods. Compared to previous studies, this paper considers multiple fuel prices in the forecasting model of system marginal price, and provides greater emphasis on the robustness of analysis. As none of the cointegrating relations associated with system marginal price, natural gas price and oil price are excluded, three error correction models are estimated. Considering the root mean squared error and mean absolute error, the model based on the cointegrating relation between system marginal price and natural gas price performs best in the out-of-sample forecast.

• The Korean Journal of Financial Management
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• 제20권1호
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• pp.93-124
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• 2003

This paper studies the financial analyst's forecasting activities on the firm's operating performance during the period from 1999 to 2003. In this study, financial analyst's forecasting activities are focused on the sales, operating income and net income and financial analyst's forecasting accuracy, forecasting revising patterns and forecasting activities to the unexpected firm's operating performance are studied. Some empirical findings in this study are as follows. First, standard estimate error on the sales, operating income and net income are all significantly negative value and so financial analyst's forecast on the firm's operating performance are upwardly biased. Second, domestic financial analyst's forecasting activities is relatively more accuracy than foreign financial analyst's forecasting activities. Third, forecasting time is more close to the end of the operating performance announcement day, forecasting activities are more accuracy. Fourth, comparing with individual financial analyst's forecast, consensus forecast is more accuracy. Fifth, in the comparative forecasting activities study according to the prior firm's operating performance, financial analyst's forecasting revision activities are found to be upward or downward. Sixth, financial analysts overreact in the sales forecast and underreact in the operating income and net income forecast. Seventh, in the empirical analysis on the Easterwood-Nutt's test model(1999) which the firm's performance change are divided into the expected performance change and the unexpected performance change, it is found that financial analyst's forecasting activities on the firm's operating performance are systematically optimistic.

• Journal of Korea Water Resources Association
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• 제44권11호
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• pp.853-861
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• 2011

The objective of this study is to assess Sejong University River Forecast (SURF) model which consists of a continuous rainfall-runoff model and measured streamflow assimilation using ensemble Kalman filter technique for streamflow forecast on Nakdong river basin. The study area is divided into 43 subbasins. The forecasted streamflows are evaluated at 12 measurement sites during flood season from 2006 to 2007. The forecasted ones are improved due to the impact of the measured streamflows assimilation. In effectiveness indices corresponding to 1~5 h forecast lead times, the accuracy of the forecasted streamflows with the assimilation approach is improved by 46.2~30.1% compared with that using only the rainfall-runoff model. The mean normalized absolute error of forecasted peak flow without and with data assimilation approach in entering 50% of the measured rainfall, respectively, the accuracy of the latter is improved about 40% than that of the former. From these results, SURF model is able to be used as a real-time river forecast model.

• Atmosphere
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• 제25권2호
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• pp.375-387
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• 2015

A Selected Multi-model CONsensus (SMCON) technique was developed and verified for the tropical cyclone track forecast in the western North Pacific. The SMCON forecasts were produced by averaging numerical model forecasts showing low 70% latest 6 h prediction errors among 21 models. In the homogeneous comparison for 54 tropical cyclones in 2013 and 2014, the SMCON improvement rate was higher than the other forecasts such as the Non-Selected Multi-model CONsensus (NSMCON) and other numerical models (i.e., GDAPS, GEPS, GFS, HWRF, ECMWF, ECMWF_H, ECMWF_EPS, JGSM, TEPS). However, the SMCON showed lower or similar improvement rate than a few forecasts including ECMWF_EPS forecasts at 96 h in 2013 and at 72 h in 2014 and the TEPS forecast at 120 h in 2013. Mean track errors of the SMCON for two year were smaller than the NSMCON and these differences were 0.4, 1.2, 5.9, 12.9, 8.2 km at 24-, 48-, 72-, 96-, 120-h respectively. The SMCON error distributions showed smaller central tendency than the NSMCON's except 72-, 96-h forecasts in 2013. Similarly, the density for smaller track errors of the SMCON was higher than the NSMCON's except at 72-, 96-h forecast in 2013 in the kernel density estimation analysis. In addition, the NSMCON has lager range of errors above the third quantile and larger standard deviation than the SMCON's at 72-, 96-h forecasts in 2013. Also, the SMCON showed smaller bias than ECMWF_H for the cross track bias. Thus, we concluded that the SMCON could provide more reliable information on the tropical cyclone track forecast by reflecting the real-time performance of the numerical models.

• Management & Information Systems Review
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• 제35권4호
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• pp.213-227
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• 2016

This study examines the effects of managerial ability on information asymmetry. We use analyst forecast errors as a proxy for information asymmetry, because analysts are referred to as efficient users using firm-level data. The sample consists of 2,246 non-banking firm-years listed in Korea Stock Exchange(KOSPI) during the period 2000 to 2013. We measure managerial ability using DEA(Data Envelopment Analysis) following Demerjian et al.(2012). Using those measures, we examines the effects of managerial ability on analysts' earnings forecast errors and analysts' earnings forecast bias. The results of this study are as follows. First, we find that managerial ability are positively associated with analysts' earnings forecast accuracy. Second, we show that the firms with higher managerial ability tend to have lower the optimistic errors in analysts' earnings forecasts. This study could be useful for outside stakeholders to understand the importance of managerial ability.