An Approach for Selecting Times Series Forecasting Models
International Journal of Operations & Production Management
ISSN: 0144-3577
Article publication date: 1 March 1990
Abstract
A method is developed for evaluating forecasting models with respect to both error and complexity in forecasting. Several types of forecasting accuracy measures (MSE, MPE, MAPE, Theil′s U‐Statistic and a loss cost function) are examined and the approach is illustrated using short‐term forecasting methods, and weekly and four‐weekly data. The approach can, however, be applied equally to immediate, medium‐ and long‐term forecasting.
Keywords
Citation
Mahmoud, E. and Pegels, C.C. (1990), "An Approach for Selecting Times Series Forecasting Models", International Journal of Operations & Production Management, Vol. 10 No. 3, pp. 50-60. https://doi.org/10.1108/01443579010003003
Publisher
:MCB UP Ltd
Copyright © 1990, MCB UP Limited