An Improved Nonhomogeneous Discrete Grey Model and Its Application

Jianming Jiang, Yu Zhang, Changqing Liu and Wanli Xie

Mathematical Problems in Engineering, 2020, vol. 2020, 1-8

Abstract:

In recent years, the nonhomogeneous grey model has received much attention owing to its flexibility and applicability of forecasting small samples. To improve further the prediction accuracy of the nonhomogeneous grey model, this paper is to introduce a new whitening equation with variable coefficient into the original nonhomogeneous grey model, which is abbreviated as . First of all, the detailed computational steps of the time response function of the novel model and the restored values of the raw data sequence are deduced through grey modelling techniques. Secondly, two empirical examples from the previous literature are conducted to prove the validity of the novel model. Finally, the novel model is applied to forecast natural gas demand of China, and the results show that the novel model has a better prediction performance compared with other commonly used grey models, including , , , and .

Date: 2020
References: Add references at CitEc
Citations:

Downloads: (external link)
http://downloads.hindawi.com/journals/MPE/2020/4638296.pdf (application/pdf)
http://downloads.hindawi.com/journals/MPE/2020/4638296.xml (text/xml)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hin:jnlmpe:4638296

DOI: 10.1155/2020/4638296

Access Statistics for this article

More articles in Mathematical Problems in Engineering from Hindawi
Bibliographic data for series maintained by Mohamed Abdelhakeem ().