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Journals / Hacettepe Journal of Mathematics and Statistics / 2022 / Cilt: 51 - Sayı: 1

An optimized continuous fractional grey model for forecasting of the time dependent real world cases

Zafer ÖZTÜRK
Halis BİLGİL
Ümmügülsüm ERDİNÇ
Pages
308–326
Publication Date
2022-02-14
DOI
—
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

The numerical results of three case studies show that the novel model's prediction accuracy is higher than other competitive models, and the proposed model is more reasonable for practical cases.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:The new priority in the grey modelling is to build new models that have more accurate forecasting power than the previous ones.
📊
Key Findings & Data:This paper aims to develop the prediction performance of the existing continuous grey models.
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Conclusion & Impact:The numerical results of three case studies show that the novel model's prediction accuracy is higher than other competitive models, and the proposed model is more reasonable for practical cases.
🔬Design:Modeling & Simulation
📍Scope:Comprehensive Sample
⚙️Variables:Grey Systems · Conformable fractional derivative · Fractional grey model

Abstract

The new priority in the grey modelling is to build new models that have more accurate forecasting power than the previous ones. This paper aims to develop the prediction performance of the existing continuous grey models. Therefore, a novel continuous grey model (OCCFGM(1,1)) is proposed with conformable fractional derivative. The numerical results of three case studies show that the novel model's prediction accuracy is higher than other competitive models, and the proposed model is more reasonable for practical cases.

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Cite This Article

ÖZTÜRK, Z., BİLGİL, H., ERDİNÇ, Ü. (2022). An optimized continuous fractional grey model for forecasting of the time dependent real world cases. Hacettepe Journal of Mathematics and Statistics, Cilt: 51 - Sayı: 1, 308–326. https://ajindex.com/articles/669258

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