Application of Improved Grey Prediction Model for Chinese Petroleum Consumption

Ying Ma () and Meng Sun
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Ying Ma: China Petroleum University
Meng Sun: Shandong University

Chapter Chapter 18 in The 19th International Conference on Industrial Engineering and Engineering Management, 2013, pp 171-176 from Springer

Abstract: Abstract An improved Grey-based settlement predictor is promoted. Adopt Grey prediction as a forecasting means because of its fast calculation with a few of data inputs needed. However, our preliminary study shows that the general Grey model, GM (1,1) is inadequate to handle settlement prediction as its only adapt to the data with exponential law. In this paper, the prediction is improved significantly by adopting equal dimensionality information fill model aim at enhancing the prediction accuracy. The prediction is made on Chinese petroleum consumption in future.

Keywords: Grey system theory; Improved GM (1; 1); Petroleum consumption; Prediction (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-38391-5_18

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DOI: 10.1007/978-3-642-38391-5_18

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