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Book part
Publication date: 25 July 1997

Les Gulko

Abstract

Details

Applying Maximum Entropy to Econometric Problems
Type: Book
ISBN: 978-0-76230-187-4

Article
Publication date: 1 July 1990

H. Van der Auweraer and J. Leuridan

The paper deals with the application of a frequency domain maximum likelihood estimation method for linear system identification in the field of flutter data analysis. Unlike…

Abstract

The paper deals with the application of a frequency domain maximum likelihood estimation method for linear system identification in the field of flutter data analysis. Unlike methods based on least squares error minimization, the proposed method takes into account the disturbing process or measurement noise on as well the input as the output of the device under test. This enables the optimal and unbiased identification of the parameters in the linear system model. A few examples of the identification of the system parameters of a mechanical single input single output system from flutter test data are discussed and compared to more classical linear estimation methods.

Details

Aircraft Engineering and Aerospace Technology, vol. 62 no. 7
Type: Research Article
ISSN: 0002-2667

Book part
Publication date: 30 December 2004

James P. LeSage and R. Kelley Pace

For this discussion, assume there are n sample observations of the dependent variable y at unique locations. In spatial samples, often each observation is uniquely associated with…

Abstract

For this discussion, assume there are n sample observations of the dependent variable y at unique locations. In spatial samples, often each observation is uniquely associated with a particular location or region, so that observations and regions are equivalent. Spatial dependence arises when an observation at one location, say y i is dependent on “neighboring” observations y j, y j∈ϒi. We use ϒi to denote the set of observations that are “neighboring” to observation i, where some metric is used to define the set of observations that are spatially connected to observation i. For general definitions of the sets ϒi,i=1,…,n, typically at least one observation exhibits simultaneous dependence, so that an observation y j, also depends on y i. That is, the set ϒj contains the observation y i, creating simultaneous dependence among observations. This situation constitutes a difference between time series analysis and spatial analysis. In time series, temporal dependence relations could be such that a “one-period-behind relation” exists, ruling out simultaneous dependence among observations. The time series one-observation-behind relation could arise if spatial observations were located along a line and the dependence of each observation were strictly on the observation located to the left. However, this is not in general true of spatial samples, requiring construction of estimation and inference methods that accommodate the more plausible case of simultaneous dependence among observations.

Details

Spatial and Spatiotemporal Econometrics
Type: Book
ISBN: 978-0-76231-148-4

Article
Publication date: 1 February 2005

Ahmed Hurairah, Noor Akma Ibrahim, Isa Bin Daud and Kassim Haron

Extreme value model is one of the most important models that are applicable in air pollution data. This paper aims at introducing a new model of extreme value that is more…

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Abstract

Purpose

Extreme value model is one of the most important models that are applicable in air pollution data. This paper aims at introducing a new model of extreme value that is more suitable in environmental studies.

Design/methodology/approach

The parameters of the new model have been estimated by method of maximum likelihood. In order to relate to air pollution impacts, the new extreme value model was used, applied to carbon monoxide (CO) in parts per million (ppm) at several places in Malaysia. The objective of this analysis is to fit the extreme values with a new model and to examine its performance. Comparison of the new model with others is shown to illustrate the applicability of this new model.

Findings

The results show that the new model is the best fit using the method of maximum likelihood. The new model gives a significant impact of CO data, which gives the smallest standard error and p‐values. The new extreme value model is able to identify significantly problems of air pollution. The results presented by the new extreme value model can be used as an air quality management tool by providing the decision makers means to determine the required reduction of source.

Originality/value

The new extreme value model has mostly been applied in environmental studies for the statistical treatment of air pollution. The results of the numerical and simulated CO data indicate that the new model both is easy to use and can achieve even higher accuracy compared with other models.

Details

Management of Environmental Quality: An International Journal, vol. 16 no. 1
Type: Research Article
ISSN: 1477-7835

Keywords

Book part
Publication date: 30 December 2004

Leslie W. Hepple

Within spatial econometrics a whole family of different spatial specifications has been developed, with associated estimators and tests. This lead to issues of model comparison…

Abstract

Within spatial econometrics a whole family of different spatial specifications has been developed, with associated estimators and tests. This lead to issues of model comparison and model choice, measuring the relative merits of alternative specifications and then using appropriate criteria to choose the “best” model or relative model probabilities. Bayesian theory provides a comprehensive and coherent framework for such model choice, including both nested and non-nested models within the choice set. The paper reviews the potential application of this Bayesian theory to spatial econometric models, examining the conditions and assumptions under which application is possible. Problems of prior distributions are outlined, and Bayes factors and marginal likelihoods are derived for a particular subset of spatial econometric specifications. These are then applied to two well-known spatial data-sets to illustrate the methods. Future possibilities, and comparisons with other approaches to both Bayesian and non-Bayesian model choice are discussed.

Details

Spatial and Spatiotemporal Econometrics
Type: Book
ISBN: 978-0-76231-148-4

Article
Publication date: 1 May 1990

B.D. Bunday and I.D. Al‐Ayoubi

The contents and function of a computer package to fit reliability models for computer software are outlined. Parameters in the models are, in the first place, estimated by maximum

Abstract

The contents and function of a computer package to fit reliability models for computer software are outlined. Parameters in the models are, in the first place, estimated by maximum likelihood estimation procedures. Bayesian estimation methods are also used and are shown to give estimates with a smaller variance than their MLE counterparts. An example of the application to a particular set of failure times is given.

Details

International Journal of Quality & Reliability Management, vol. 7 no. 5
Type: Research Article
ISSN: 0265-671X

Keywords

Abstract

Details

Machine Learning and Artificial Intelligence in Marketing and Sales
Type: Book
ISBN: 978-1-80043-881-1

Article
Publication date: 18 July 2019

Zahid Hussain Hulio and Wei Jiang

The purpose of this paper is to investigate wind power potential of site using wind speed, wind direction and other meteorological data including temperature and air density…

Abstract

Purpose

The purpose of this paper is to investigate wind power potential of site using wind speed, wind direction and other meteorological data including temperature and air density collected over a period of one year.

Design/methodology/approach

The site-specific air density, wind shear, wind power density, annual energy yield and capacity factors have been calculated at 30 and 10 m above the ground level (AGL). The Weibull parameters have been calculated using empirical, maximum likelihood, modified maximum likelihood, energy pattern and graphical methods to determine the other dependent parameters. The accuracies of these methods are determined using correlation coefficient (R²) and root mean square error (RMSE) values.

Findings

The site-specific wind shear coefficient was found to be 0.18. The annual mean wind speeds were found to be 5.174 and 4.670 m/s at 30 and 10 m heights, respectively, with corresponding standard deviations of 2.085 and 2.059. The mean wind power densities were found to be 59.50 and 46.75 W/m² at 30 and 10 m heights, respectively. According to the economic assessment, the wind turbine A is capable of producing wind energy at the lowest value of US$ 0.034/kWh.

Practical implications

This assessment provides the sustainable solution of energy which minimizes the dependence on continuous supply of oil and gas to run the conventional power plants that is a major cause of increasing load shedding in the significant industrial and thickly populated city of Pakistan. Also, this will minimize the quarrel between the local power producer and oil and gas supplier during the peak season.

Social implications

This wind resource assessment has some important social implications including decreasing the environmental issues, enhancing the uninterrupted supply of electricity and decreasing cost of energy per kWh for the masses of Karachi.

Originality/value

The results are showing that the location can be used for installing the wind energy power plant at the lower cost per kWh compared to other energy sources. The wind energy is termed as sustainable solution at the lowest cost.

Details

International Journal of Energy Sector Management, vol. 14 no. 1
Type: Research Article
ISSN: 1750-6220

Keywords

Book part
Publication date: 4 November 2021

Chaido Dritsaki and Melina Dritsaki

The term “economic growth” refers to the increase of real gross national product or gross domestic product or per capita income. National income or else national product is…

Abstract

The term “economic growth” refers to the increase of real gross national product or gross domestic product or per capita income. National income or else national product is usually expressed as a measure of total added value of a domestic economy known as gross domestic product (GDP). Generally, GDP measures the value of economic activity within a country during a specific time period. The current study aims to find the most suitable model that adjusts on a time-series data set using Box-Jenkins methodology and to examine the forecasting ability of this model. The analysis used quarterly data for Greece from the first quarter of 1995 until the third quarter of 2019. Nonlinear maximum likelihood estimation (maximum likelihood-ML) was applied to estimate the model using the Broyden-Fletcher-Goldfarb-Shanno (BFGS) algorithm while covariance matrix was estimated using the negative of the matrix of log-likelihood second derivatives (Hessian-observed). Forecasting of the time series was achieved both with dynamic as well as static procedures using all forecasting criteria.

Details

Modeling Economic Growth in Contemporary Greece
Type: Book
ISBN: 978-1-80071-123-5

Keywords

Article
Publication date: 20 January 2023

Sakshi Soni, Ashish Kumar Shukla and Kapil Kumar

This article aims to develop procedures for estimation and prediction in case of Type-I hybrid censored samples drawn from a two-parameter generalized half-logistic distribution…

Abstract

Purpose

This article aims to develop procedures for estimation and prediction in case of Type-I hybrid censored samples drawn from a two-parameter generalized half-logistic distribution (GHLD).

Design/methodology/approach

The GHLD is a versatile model which is useful in lifetime modelling. Also, hybrid censoring is a time and cost-effective censoring scheme which is widely used in the literature. The authors derive the maximum likelihood estimates, the maximum product of spacing estimates and Bayes estimates with squared error loss function for the unknown parameters, reliability function and stress-strength reliability. The Bayesian estimation is performed under an informative prior set-up using the “importance sampling technique”. Afterwards, we discuss the Bayesian prediction problem under one and two-sample frameworks and obtain the predictive estimates and intervals with corresponding average interval lengths. Applications of the developed theory are illustrated with the help of two real data sets.

Findings

The performances of these estimates and prediction methods are examined under Type-I hybrid censoring scheme with different combinations of sample sizes and time points using Monte Carlo simulation techniques. The simulation results show that the developed estimates are quite satisfactory. Bayes estimates and predictive intervals estimate the reliability characteristics efficiently.

Originality/value

The proposed methodology may be used to estimate future observations when the available data are Type-I hybrid censored. This study would help in estimating and predicting the mission time as well as stress-strength reliability when the data are censored.

Details

International Journal of Quality & Reliability Management, vol. 40 no. 9
Type: Research Article
ISSN: 0265-671X

Keywords

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