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1 – 10 of over 1000Ye Li, Sandang Guo and Juan Li
The purpose of this paper is to construct a prediction model of three-parameter interval grey number based on kernel and double information domains to expand the modeling object…
Abstract
Purpose
The purpose of this paper is to construct a prediction model of three-parameter interval grey number based on kernel and double information domains to expand the modeling object of grey prediction model from interval grey number to three-parameter interval grey number.
Design/methodology/approach
First, the study decomposes the grey valued interval into upper and lower cells with the “center of gravity” as the dividing point and defines the upper and lower information domains of the three-parameter interval grey number. Second, it calculates the kernel, the upper and lower information domains of the three-parameter interval grey number. Then, it constructs the prediction model for kernel sequence and upper and lower information domain sequences, respectively. By deducing the time response expressions of “center of gravity”, lower and upper limits of three-parameter interval grey number, a prediction model of three-parameter interval grey number based on kernel and double information domains is obtained.
Findings
This paper provides a prediction model of three-parameter interval grey number based on kernel and double information domains, and the example analysis shows that the method proposed in this paper has higher prediction accuracy and practicality.
Practical implications
In this paper, the modeling object of grey prediction model is extended to the three-parameter interval grey number, so it can be used for the prediction of uncertainty problems, such as stock changing trend, temperature and so on.
Originality/value
By decomposing the grey valued interval into upper and lower cells with the “center of gravity” as the dividing point, gives the definition of upper and lower information domains and then obtains a new method for whitening the three-parameter interval grey number.
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The purpose of this paper is to construct an unbiased interval grey number prediction model with new information priority for dealing with the jumping errors from difference…
Abstract
Purpose
The purpose of this paper is to construct an unbiased interval grey number prediction model with new information priority for dealing with the jumping errors from difference equation to the differential equation in the prediction model of interval grey number.
Design/methodology/approach
First, this study obtains a set of linear equations about the model parameters by taking the minimum error sum of squares between the accumulative sequence and its simulation values as criterion, and solves them on the basis of the Crammer rule. Then, according to the new information priority principle, it selects the last number of the accumulated generation sequence as the initial value and gives the expression of the time response function by the recursive iteration method to establish the interval grey number prediction model.
Findings
This paper provides an unbiased interval grey number prediction model with new information priority, and the example analysis shows that the method proposed in this paper has higher prediction precision and practicality.
Research limitations/implications
If there is a better method to whiten the interval grey number, so as to fully tap the grey information contained in it, the accuracy of the model will be higher.
Practical implications
The model proposed in this paper can avoid the error caused by jumping from difference equation to differential equation and make full use of new information. It can be better used in a problem where new information has a great influence on prediction results.
Originality/value
This paper selects the last number of the accumulated generation sequence as the initial value and gives the expression of the time response function by the recursive iteration method. Then, it constructs an unbiased interval grey number prediction model with new information priority.
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The purpose of this paper is to discuss the interval forecasting, prediction interval and its reliability. When the predicted interval and its reliability are construction, the…
Abstract
Purpose
The purpose of this paper is to discuss the interval forecasting, prediction interval and its reliability. When the predicted interval and its reliability are construction, the general rule which must satisfy is studied, grey wrapping band forecasting method is perfect.
Design/methodology/approach
A forecasting method puts forward a process of prediction interval. It also elaborates on the meaning of interval (the probability of the prediction interval including the real value of predicted variable). The general rule is abstracted and summarized by many forecasting cases. The general rule is discussed by axiomatic method.
Findings
The prediction interval is categorized into three types. Three axioms that construction predicted interval must satisfy are put forward. Grey wrapping band forecasting method is improved based on the proposed axioms.
Practical implications
Take the Shanghai composite index as the example, according to the K-line diagram from 4 January 2013 to 9 May 2013, the reliability of predicted rebound height of subsequent two or three trading day does not exceed the upper wrapping curve is 80 per cent. It is significant to understand the forecasting range correctly, build a reasonable range forecasting method and to apply grey wrapping band forecasting method correctly.
Originality/value
Grey wrapping band forecasting method is improved based on the proposed axioms.
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Ye Li, Yuanping Ding, Yaqian Jing and Sandang Guo
The purpose of this paper is to construct an interval grey number NGM(1,1) direct prediction model (abbreviated as IGNGM(1,1)), which need not transform interval grey numbers…
Abstract
Purpose
The purpose of this paper is to construct an interval grey number NGM(1,1) direct prediction model (abbreviated as IGNGM(1,1)), which need not transform interval grey numbers sequences into real number sequences, and the Markov model is used to optimize residual sequences of IGNGM(1,1) model.
Design/methodology/approach
A definition equation of IGNGM(1,1) model is proposed in this paper, and its time response function is solved by recursive iteration method. Next, the optimal weight of development coefficients of two boundaries is obtained by genetic algorithm, which is designed by minimizing the average relative error based on time weighted. In addition to that, the Markov model is used to modify residual sequences.
Findings
The interval grey numbers’ sequences can be predicted directly by IGNGM(1,1) model and its residual sequences can be amended by Markov model. A case study shows that the proposed model has higher accuracy in prediction.
Practical implications
Uncertainty and volatility information is widespread in practical applications, and the information can be characterized by interval grey numbers. In this paper, an interval grey numbers direct prediction model is proposed, which provides a method for predicting the uncertainty information in the real world.
Originality/value
The main contribution of this paper is to propose an IGNGM(1,1) model which can realize interval grey numbers prediction without transforming them into real number and solve the optimal weight of integral development coefficient by genetic algorithm so as to avoid the distortion of prediction results. Moreover, the Markov model is used to modify residual sequences to further improve the modeling accuracy.
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In contrast to point forecasts, interval forecasts provide information on future variability. This research thus aimed to develop interval prediction models by addressing two…
Abstract
Purpose
In contrast to point forecasts, interval forecasts provide information on future variability. This research thus aimed to develop interval prediction models by addressing two significant issues: (1) a simple average with an additive property is commonly used to derive combined forecasts, but this unreasonably ignores the interaction among sequences used as sources of information, and (2) the time series often does not conform to any statistical assumptions.
Design/methodology/approach
To develop an interval prediction model, the fuzzy integral was applied to nonlinearly combine forecasts generated by a set of grey prediction models, and a sequence including the combined forecasts was then used to construct a neural network. All required parameters relevant to the construction of an interval model were optimally determined by the genetic algorithm.
Findings
The empirical results for tourism demand showed that the proposed non-additive interval model outperformed the other interval prediction models considered.
Practical implications
The private and public sectors in economies with high tourism dependency can benefit from the proposed model by using the forecasts to help them formulate tourism strategies.
Originality/value
In light of the usefulness of combined point forecasts and interval model forecasting, this research contributed to the development of non-additive interval prediction models on the basis of combined forecasts generated by grey prediction models.
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Pingping Xiong, Yue Zhang, Bo Zeng and Tian-Xiang Yao
Aiming at the traditional multivariate grey forecasting model only considers the modelling of real numbers; therefore, the purpose of this paper is to construct an MGM(1, m) model…
Abstract
Purpose
Aiming at the traditional multivariate grey forecasting model only considers the modelling of real numbers; therefore, the purpose of this paper is to construct an MGM(1, m) model based on the interval grey number sequences according to the grey modelling theory.
Design/methodology/approach
First, the multivariable grey number sequences are transformed into the kernel and grey radius sequences which are two feature sequences of interval grey number sequences. Then the MGM(1, m) model for kernel sequences and grey radius sequences are established, respectively. Finally, the simulation and prediction of the upper and lower bounds of the interval grey number sequences are realized by the reductive calculation of the predicted values of the kernel and grey radius.
Findings
The model is applied to the prediction of visibility and relative humidity, the identification factors of the haze. The results show that the model has high accuracy on the simulation and prediction of multivariable grey number sequences, which is reasonable and practical.
Originality/value
The main contribution of this paper is to propose a method to simulate and forecast the multivariable grey number sequence that is to establish the prediction models for the whitening sequences of multivariable grey number sequences which are kernel and grey radius sequences and extend the possibility boundary of kernel by grey radius. The model can reflect the development trend of multivariable grey number sequence accurately. When the grey information is continuously complemented, the multivariable grey number prediction model is transformed into the traditional MGM(1, m) model. Therefore, the MGM(1, m) model based on interval grey number sequence is the generalisation and expansion of the traditional MGM(1, m) model.
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Sandang Guo, Yaqian Jing and Bingjun Li
The purpose of this paper is to make multivariable gray model to be available for the application on interval gray number sequences directly, the matrix form of interval…
Abstract
Purpose
The purpose of this paper is to make multivariable gray model to be available for the application on interval gray number sequences directly, the matrix form of interval multivariable gray model (IMGM(1,m,k) model) is constructed to simulate and forecast original interval gray number sequences in this paper.
Design/methodology/approach
Firstly, the interval gray number is regarded as a three-dimensional column vector, and the parameters of multivariable gray model are expressed in matrix form. Based on the dynamic gray action and optimized background value, the interval multivariable gray model is constructed. Finally, two examples and comparisons are carried out to verify the effectiveness of IMGM(1,m,k) model.
Findings
The model is applied to simulate and predict expert value, foreign direct investment, automobile sales and steel output, respectively. The results show that the proposed model has better simulation and prediction performance than another two models.
Practical implications
Due to the uncertainty information and continuous changing of reality, the interval gray numbers are used to characterize full information of original data. And the IMGM(1,m,k) model not only considers the characteristics of parameters changing with time but also takes into account information on lower, middle and upper bounds of interval gray numbers simultaneously to make better suitable for practical application.
Originality/value
The main contribution of this paper is to propose a new interval multivariable gray model, which considers the interaction between the lower, middle and upper bounds of interval numbers and need not to transform interval gray number sequences into real sequences. According to combining different characteristics of each bound of interval gray numbers, the matrix form of interval multivariable gray model is established to simulate and forecast interval gray numbers. In addition, the model introduces dynamic gray action to reflect the changes of parameters over time. Instead of white equation of classic MGM(1,m), the difference equation is directly used to solve the simulated and predicted values.
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Haoze Cang, Xiangyan Zeng and Shuli Yan
The effective prediction of crude oil futures prices can provide a reference for relevant enterprises to make production plans and investment decisions. To the nonlinearity, high…
Abstract
Purpose
The effective prediction of crude oil futures prices can provide a reference for relevant enterprises to make production plans and investment decisions. To the nonlinearity, high volatility and uncertainty of the crude oil futures price, a matrixed nonlinear exponential grey Bernoulli model combined with an exponential accumulation generating operator (MNEGBM(1,1)) is proposed in this paper.
Design/methodology/approach
First, the original sequence is processed by the exponential accumulation generating operator to weaken its volatility. The nonlinear grey Bernoulli and exponential function models are combined to fit the preprocessed sequence. Then, the parameters in MNEGBM(1,1) are matrixed, so the ternary interval number sequence can be modeled directly. Marine Predators Algorithm (MPA) is chosen to optimize the nonlinear parameters. Finally, the Cramer rule is used to derive the time recursive formula.
Findings
The predictive effectiveness of the proposed model is verified by comparing it with five comparison models. Crude oil futures prices in Cushing, OK are predicted and analyzed from 2023/07 to 2023/12. The prediction results show it will gradually decrease over the next six months.
Originality/value
Crude oil futures prices are highly volatile in the short term. The use of grey model for short-term prediction is valuable for research. For the data characteristics of crude oil futures price, this study first proposes an improved model for interval number prediction of crude oil futures prices.
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In order to accurately predict the uncertain and nonlinear characteristics of China's three clean energy generation, this paper presents a novel time-varying grey Riccati model…
Abstract
Purpose
In order to accurately predict the uncertain and nonlinear characteristics of China's three clean energy generation, this paper presents a novel time-varying grey Riccati model (TGRM(1,1)) based on interval grey number sequences.
Design/methodology/approach
By combining grey Verhulst model and a special kind of Riccati equation and introducing a time-varying parameter and random disturbance term the authors advance a TGRM(1,1) based on interval grey number sequences. Additionally, interval grey number sequences are converted into middle value sequences and trapezoid area sequences by using geometric characteristics. Then the predicted formula is obtained by using differential equation principle. Finally, the proposed model's predictive effect is evaluated by three numerical examples of China's clean energy generation.
Findings
Based on the interval grey number sequences, the TGRM(1,1) is applied to predict the development trend of China's wind power generation, China's hydropower generation and China's nuclear power generation, respectively, to verify the effectiveness of the novel model. The results show that the proposed model has better simulated and predicted performance than compared models.
Practical implications
Due to the uncertain information and continuous changing of clean energy generation in the past decade, interval grey number sequences are introduced to characterize full information of the annual clean energy generation data. And the novel TGRM(1,1) is applied to predict upper and lower bound values of China's clean energy generation, which is significant to give directions for energy policy improvements and modifications.
Originality/value
The main contribution of this paper is to propose a novel TGRM(1,1) based on interval grey number sequences, which considers the changes of parameters over time by introducing a time-varying parameter and random disturbance term. In addition, the model introduces the Riccati equation into classic Verhulst, which has higher practicability and prediction accuracy.
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Huang Chang Mei, Shen Wei Hua and Xiao Xiao Cong
The paper attempts to establish GM(1,1) grey prediction model group for the top three Olympic track and field sports performance, and to predict the 30th London Olympic track and…
Abstract
Purpose
The paper attempts to establish GM(1,1) grey prediction model group for the top three Olympic track and field sports performance, and to predict the 30th London Olympic track and field results and its tendency using grey systems theory.
Design/methodology/approach
Athletics sports achievements are influenced by many factors, such as the physical quality, athletes individual growth cycle, and injuring or retirement of excellent athletes, the outstanding performance of some athletes, the using of high‐tech sports training instrument, the implementation plan of scientific training guidance, the introduction of advanced technology, facilities and improvement, and so on. Those aspects can make the match result uncertain, which are running in a uncertain and continually changing environment, so sports achievements have obviously grey features. Combined with grey modeling methods, and aimed at the top three Olympic track and field sports performance, this paper established GM (1,1) grey prediction model group and analysed the trend of Olympic track and field. And in the end of the paper, the 30th Olympic men's and women's the top three athletic achievements prediction intervals are also predicted.
Findings
The results show that forecasting model group has high‐precision. In the 46 champions prediction models, three models have the forecast accuracy of 100 percent; 27 models' forecast accuracy are greater than 99.5 percent, and the rest of the models forecast accuracy are greater than 98.58 percent. In the 46 silver medalists prediction models, five models have the forecast accuracy of 100 percent; 33 models' forecast accuracy are greater than 99.5 percent and the rest of the models' forecast accuracy is greater than 98.48 percent. In the 46 bronze medalist prediction models, four models have the forecast accuracy of 100 percent; 25 models' forecast accuracy is greater than 99.5 percent and the rest of the models forecast accuracy is greater than 98.76 percent. The essay deeply analyzes the top three achievements' trend of Olympic Games Track and field. In the end, the paper predicts the 30th Olympic track and field results.
Practical implications
The method exposed in the paper can be used for the short‐term or long‐term prediction of sports scores metering in international competition (such as track and field, swimming, rowing, etc.), and also for personal athletic performance prediction.
Originality/value
The paper succeeds in realising both grey prediction model group for the top three Olympic track and field performance in all projects, and prediction of the 30th London Olympic track and field results by using the newest developed theories: grey systems theory.
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