Three Variables Fuzzy Time Series Model for Predicting Energy Demand in India |
Author(s): |
| AKASH TOMAR , VIVEKANANDA INSTITUTE OF TECHNOLOGY |
Keywords: |
| Fuzzy Time, Fuzzy Time Series Model, Fuzzy Composition |
Abstract |
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Forecasting plays an important role in planning. During last two decades various approaches have been developed for time series forecasting. The present paper focuses on three variable fuzzy time series model to forecasts energy demand in Indian context. The interested variable is main variable that is energy demand (in quadrillion btu) and remaining two are secondary variable. These two secondary variables are Gross Domestic Product (in million dollars) and Population (in million).History of past 24 years is used for making new forecasts. The model appears to have better accuracy as compared to simple linear regression models. The model can be used in situations where the historical data is subjective or fuzzy. |
Other Details |
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Paper ID: IJSRDV2I10195 Published in: Volume : 2, Issue : 10 Publication Date: 01/01/2015 Page(s): 299-302 |
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