A Case Study: Forecastingthe Total Production of Premium Gasoline in Indonesia
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 5
Abstract
The increased of price crude oil in the international market affected the total production of premium gasoline in Indonesia, and it shows increased significantly year by year and irregular cycles which bring suitable data series to accurate forecasting. This paper proposes a GM (1,1) forecasting method with timeseries data to predict the total production of premium gasoline in Indonesia. After collection, the real data about the total production of premium gasoline in Indonesia from 1996 to 2015, and from the result show that the real data and the forecasting result have a positive correlation, whichfound between the real data and the forecasting outcome from Grey forecasting method. This correlation related to previous research and study about Grey forecasting stated that with the Grey forecasting method suitable for short-term and long-term prediction.
Authors and Affiliations
Muhammad Ghalih, PutriAyu Berlianingtyas, Sailawati .
Keywords
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- EP ID EP411298
- DOI 10.9790/487X-2005083438.
- Views 67
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