Forecasting the volatility of crude oil futures using intra-day data

International Nuclear Information System (INIS)

Sevi, Benoit

2013-01-01

We use the information in intra-day data to forecast the volatility of crude oil at a horizon of 1 to 66 days using a variety of models relying on the decomposition of realized variance in its positive or negative (semi-variances) part and its continuous or discontinuous part (jumps). We show the importance of these decompositions in predictive regressions using a number of specifications. Nevertheless, an important empirical finding comes from an out-of-sample analysis which unambiguously shows the limited interest of considering these components. Overall, our results indicates that a simple autoregressive specification mimicking long memory and using past realized variances as predictors does not perform significantly worse than more sophisticated models which include the various components of realized variance. (author)

Asymmetric Realized Volatility Risk

NARCIS (Netherlands)

D.E. Allen (David); M.J. McAleer (Michael); M. Scharth (Marcel)

2014-01-01

markdownabstract__Abstract__ In this paper we document that realized variation measures constructed from high-frequency returns reveal a large degree of volatility risk in stock and index returns, where we characterize volatility risk by the extent to which forecasting errors in realized

Oil Price Forecasting Using Crack Spread Futures and Oil Exchange Traded Funds

Directory of Open Access Journals (Sweden)

Hankyeung Choi

2015-04-01

Full Text Available Given the emerging consensus from previous studies that crude oil and refined product (as well as crack spread prices are cointegrated, this study examines the link between the crude oil spot and crack spread derivatives markets. Specifically, the usefulness of the two crack spread derivatives products (namely, crack spread futures and the ETF crack spread for modeling and forecasting daily OPEC crude oil spot prices is evaluated. Based on the results of a structural break test, the sample is divided into pre-crisis, crisis, and post-crisis periods. We find a unidirectional relationship from the two crack spread derivatives markets to the crude oil spot market during the post-crisis period. In terms of forecasting performance, the forecasting models based on crack spread futures and the ETF crack spread outperform the Random Walk Model (RWM, both in-sample and out-of-sample. In addition, on average, the results suggest that information from the ETF crack spread market contributes more to the forecasting models than information from the crack spread futures market.

Modelling and Forecasting Multivariate Realized Volatility

DEFF Research Database (Denmark)

Chiriac, Roxana; Voev, Valeri

. We provide an empirical application of the model, in which we show by means of stochastic dominance tests that the returns from an optimal portfolio based on the model's forecasts second-order dominate returns of portfolios optimized on the basis of traditional MGARCH models. This result implies...

Latent Integrated Stochastic Volatility, Realized Volatility, and Implied Volatility: A State Space Approach

DEFF Research Database (Denmark)

Bach, Christian; Christensen, Bent Jesper

process is downward biased. Implied volatility performs better than any of the alternative realized measures when forecasting future integrated volatility. The results are largely similar across the stock market (S&P 500), bond market (30-year U.S. T-bond), and foreign currency exchange market ($/£ )....

How will climate novelty influence ecological forecasts? Using the Quaternary to assess future reliability.

Science.gov (United States)

Fitzpatrick, Matthew C; Blois, Jessica L; Williams, John W; Nieto-Lugilde, Diego; Maguire, Kaitlin C; Lorenz, David J

2018-03-23

Future climates are projected to be highly novel relative to recent climates. Climate novelty challenges models that correlate ecological patterns to climate variables and then use these relationships to forecast ecological responses to future climate change. Here, we quantify the magnitude and ecological significance of future climate novelty by comparing it to novel climates over the past 21,000 years in North America. We then use relationships between model performance and climate novelty derived from the fossil pollen record from eastern North America to estimate the expected decrease in predictive skill of ecological forecasting models as future climate novelty increases. We show that, in the high emissions scenario (RCP 8.5) and by late 21st century, future climate novelty is similar to or higher than peak levels of climate novelty over the last 21,000 years. The accuracy of ecological forecasting models is projected to decline steadily over the coming decades in response to increasing climate novelty, although models that incorporate co-occurrences among species may retain somewhat higher predictive skill. In addition to quantifying future climate novelty in the context of late Quaternary climate change, this work underscores the challenges of making reliable forecasts to an increasingly novel future, while highlighting the need to assess potential avenues for improvement, such as increased reliance on geological analogs for future novel climates and improving existing models by pooling data through time and incorporating assemblage-level information. © 2018 John Wiley & Sons Ltd.

Can the dynamics of the term structure of petroleum futures be forecasted? Evidence from major markets

International Nuclear Information System (INIS)

Skiadopoulos, George; Chantziara, Thalia

2008-01-01

We investigate whether the daily evolution of the term structure of petroleum futures can be forecasted. To this end, the principal components analysis is employed. The retained principal components describe the dynamics of the term structure of futures prices parsimoniously and are used to forecast the subsequent daily changes of futures prices. Data on the New York Mercantile Exchange (NYMEX) crude oil, heating oil, gasoline, and the International Petroleum Exchange (IPE) crude oil futures are used. We find that the retained principal components have small forecasting power both in-sample and out-of-sample. Similar results are obtained from standard univariate and vector autoregression models. Spillover effects between the four petroleum futures markets are also detected. (author)

A hybrid approach for probabilistic forecasting of electricity price

DEFF Research Database (Denmark)

Wan, Can; Xu, Zhao; Wang, Yelei

2014-01-01

to the nonstationarities involved in market clearing prices (MCPs), it is rather difficult to accurately predict MCPs in advance. The challenge is getting intensified as more and more renewable energy and other new technologies emerged in smart grids. Therefore transformation from traditional point forecasts...... electricity price forecasting is proposed in this paper. The effectiveness of the proposed hybrid method has been validated through comprehensive tests using real price data from Australian electricity market.......The electricity market plays a key role in realizing the economic prophecy of smart grids. Accurate and reliable electricity market price forecasting is essential to facilitate various decision making activities of market participants in the future smart grid environment. However, due...

Detection and forecasting of oyster norovirus outbreaks: recent advances and future perspectives.

Science.gov (United States)

Wang, Jiao; Deng, Zhiqiang

2012-09-01

Norovirus is a highly infectious pathogen that is commonly found in oysters growing in fecally contaminated waters. Norovirus outbreaks can cause the closure of oyster harvesting waters and acute gastroenteritis in humans associated with consumption of contaminated raw oysters. Extensive efforts and progresses have been made in detection and forecasting of oyster norovirus outbreaks over the past decades. The main objective of this paper is to provide a literature review of methods and techniques for detecting and forecasting oyster norovirus outbreaks and thereby to identify the future directions for improving the detection and forecasting of norovirus outbreaks. It is found that (1) norovirus outbreaks display strong seasonality with the outbreak peak occurring commonly in December-March in the U.S. and April-May in the Europe; (2) norovirus outbreaks are affected by multiple environmental factors, including but not limited to precipitation, temperature, solar radiation, wind, and salinity; (3) various modeling approaches may be employed to forecast norovirus outbreaks, including Bayesian models, regression models, Artificial Neural Networks, and process-based models; and (4) diverse techniques are available for near real-time detection of norovirus outbreaks, including multiplex PCR, seminested PCR, real-time PCR, quantitative PCR, and satellite remote sensing. The findings are important to the management of oyster growing waters and to future investigations into norovirus outbreaks. It is recommended that a combined approach of sensor-assisted real time monitoring and modeling-based forecasting should be utilized for an efficient and effective detection and forecasting of norovirus outbreaks caused by consumption of contaminated oysters. Copyright © 2012 Elsevier Ltd. All rights reserved.

Forecasting freight flows

DEFF Research Database (Denmark)

Lyk-Jensen, Stéphanie

2011-01-01

Trade patterns and transport markets are changing as a result of the growth and globalization of international trade, and forecasting future freight flow has to rely on trade forecasts. Forecasting freight flows is critical for matching infrastructure supply to demand and for assessing investment...... constitute a valuable input to freight models for forecasting future capacity problems.......Trade patterns and transport markets are changing as a result of the growth and globalization of international trade, and forecasting future freight flow has to rely on trade forecasts. Forecasting freight flows is critical for matching infrastructure supply to demand and for assessing investment...

Exploring the applicability of future air quality predictions based on synoptic system forecasts

International Nuclear Information System (INIS)

Yuval; Broday, David M.; Alpert, Pinhas

2012-01-01

For a given emissions inventory, the general levels of air pollutants and the spatial distribution of their concentrations are determined by the physiochemical state of the atmosphere. Apart from the trivial seasonal and daily cycles, most of the variability is associated with the atmospheric synoptic scale. A simple methodology for assessing future levels of air pollutants' concentrations based on synoptic forecasts is presented. At short time scales the methodology is comparable and slightly better than persistence and seasonal forecasts at categorical classification of pollution levels. It's utility is shown for air quality studies at the long time scale of a changing climate scenario, where seasonality and persistence cannot be used. It is demonstrated that the air quality variability due to changes in the pollution emissions can be expected to be much larger than that associated with the effects of climatic changes. - Highlights: ► A method for short and long term air quality forecasts is introduced. ► The method is based on prediction of synoptic systems. ► The method beats simple benchmarks in short term forecasts. ► Assessment of future air pollution in a changing climate scenario is demonstrated. - Air quality in a changing climate scenario can be studied using air pollution predictions based on synoptic system forecasts.

Forecasting Covariance Matrices: A Mixed Frequency Approach

DEFF Research Database (Denmark)

Halbleib, Roxana; Voev, Valeri

This paper proposes a new method for forecasting covariance matrices of financial returns. The model mixes volatility forecasts from a dynamic model of daily realized volatilities estimated with high-frequency data with correlation forecasts based on daily data. This new approach allows for flexi......This paper proposes a new method for forecasting covariance matrices of financial returns. The model mixes volatility forecasts from a dynamic model of daily realized volatilities estimated with high-frequency data with correlation forecasts based on daily data. This new approach allows...... for flexible dependence patterns for volatilities and correlations, and can be applied to covariance matrices of large dimensions. The separate modeling of volatility and correlation forecasts considerably reduces the estimation and measurement error implied by the joint estimation and modeling of covariance...

The strategy of professional forecasting

DEFF Research Database (Denmark)

Ottaviani, Marco; Sørensen, Peter Norman

2006-01-01

We develop and compare two theories of professional forecasters’ strategic behavior. The first theory, reputational cheap talk, posits that forecasters endeavor to convince the market that they are well informed. The market evaluates their forecasting talent on the basis of the forecasts...... and the realized state. If the market expects forecasters to report their posterior expectations honestly, then forecasts are shaded toward the prior mean. With correct market expectations, equilibrium forecasts are imprecise but not shaded. The second theory posits that forecasters compete in a forecasting...... contest with pre-specified rules. In a winner-take-all contest, equilibrium forecasts are excessively differentiated...

Forecasting the future of biodiversity

DEFF Research Database (Denmark)

Fitzpatrick, M. C.; Sanders, Nate; Ferrier, Simon

2011-01-01

, but their application to forecasting climate change impacts on biodiversity has been limited. Here we compare forecasts of changes in patterns of ant biodiversity in North America derived from ensembles of single-species models to those from a multi-species modeling approach, Generalized Dissimilarity Modeling (GDM...... climate change impacts on biodiversity....

ECONOMIC FORECASTS BASED ON ECONOMETRIC MODELS USING EViews 5

Directory of Open Access Journals (Sweden)

Cornelia TomescuDumitrescu,

2009-05-01

Full Text Available The forecast of evolution of economic phenomena represent on the most the final objective of econometrics. It withal represent a real attempt of validity elaborate model. Unlike the forecasts based on the study of temporal series which have an recognizable inertial character the forecasts generated by econometric model with simultaneous equations are after to contour the future of ones of important economic variables toward the direct and indirect influences bring the bear on their about exogenous variables. For the relief of the calculus who the realization of the forecasts based on the econometric models its suppose is indicate the use of the specialized informatics programs. One of this is the EViews which is applied because it reduces significant the time who is destined of the econometric analysis and it assure a high accuracy of calculus and of the interpretation of results.

Which is the better forecasting model? A comparison between HAR-RV and multifractality volatility

Science.gov (United States)

Ma, Feng; Wei, Yu; Huang, Dengshi; Chen, Yixiang

2014-07-01

In this paper, by taking the 5-min high frequency data of the Shanghai Composite Index as example, we compare the forecasting performance of HAR-RV and Multifractal volatility, Realized volatility, Realized Bipower Variation and their corresponding short memory model with rolling windows forecasting method and the Model Confidence Set which is proved superior to SPA test. The empirical results show that, for six loss functions, HAR-RV outperforms other models. Moreover, to make the conclusions more precise and robust, we use the MCS test to compare the performance of their logarithms form models, and find that the HAR-log(RV) has a better performance in predicting future volatility. Furthermore, by comparing the two models of HAR-RV and HAR-log(RV), we conclude that, in terms of performance forecasting, the HAR-log(RV) model is the best model among models we have discussed in this paper.

Level Shifts in Volatility and the Implied-Realized Volatility Relation

DEFF Research Database (Denmark)

Christensen, Bent Jesper; de Magistris, Paolo Santucci

We propose a simple model in which realized stock market return volatility and implied volatility backed out of option prices are subject to common level shifts corresponding to movements between bull and bear markets. The model is estimated using the Kalman filter in a generalization to the mult......We propose a simple model in which realized stock market return volatility and implied volatility backed out of option prices are subject to common level shifts corresponding to movements between bull and bear markets. The model is estimated using the Kalman filter in a generalization...... to the multivariate case of the univariate level shift technique by Lu and Perron (2008). An application to the S&P500 index and a simulation experiment show that the recently documented empirical properties of strong persistence in volatility and forecastability of future realized volatility from current implied...... volatility, which have been interpreted as long memory (or fractional integration) in volatility and fractional cointegration between implied and realized volatility, are accounted for by occasional common level shifts....

Will the NP workforce grow in the future? New forecasts and implications for healthcare delivery.

Science.gov (United States)

Auerbach, David I

2012-07-01

The nurse practitioner (NP) workforce has been a focus of considerable policy interest recently, particularly as the Patient Protection and Affordable Care Act may place additional demands on the healthcare professional workforce. The NP workforce has been growing rapidly in recent years, but fluctuation in enrollments in the past decades has resulted in a wide range of forecasts. To forecast the future NP workforce using a novel method that has been applied to the registered nurse and physician workforces and is robust to fluctuating enrollment trends. An age-cohort regression-based model was applied to the current and historical workforce, which was then forecasted to future years assuming stable age effects and a continuation of recent cohort trends. A total of 6798 NPs who were identified as having completed NP training in the National Sample Survey of Registered Nurses between 1992 and 2008. The future workforce is projected to grow to 244,000 in 2025, an increase of 94% from 128,000 in 2008. If NPs are defined more restrictively as those who self-identify their position title as "NP," supply is projected to grow from 86,000 to 198,000 (130%) over this period. The large projected increase in NP supply is higher and more grounded than other forecasts and has several implications: NPs will likely fulfill a substantial amount of future demand for care. Furthermore, as the ratio of NPs to Nurse Practitioners to physicians will surely grow, there could be implications for quality of care and for the configuration of future care delivery systems.

Estimation and Forecasting of Large Realized Covariance Matrices and Portfolio Choice

DEFF Research Database (Denmark)

Callot, Laurent; Kock, Anders Bredahl; Medeiros, Marcelo C.

stocks and find that these dynamics are not stable as the data is aggregated from the daily to the weekly and monthly frequency. The theoretical performance guarantees on our forecasts are illustrated on the Dow Jones index. In particular, we can beat our benchmark by a wide margin at the longer forecast...

Open-source Software for Demand Forecasting of Clinical Laboratory Test Volumes Using Time-series Analysis.

Science.gov (United States)

Mohammed, Emad A; Naugler, Christopher

2017-01-01

Demand forecasting is the area of predictive analytics devoted to predicting future volumes of services or consumables. Fair understanding and estimation of how demand will vary facilitates the optimal utilization of resources. In a medical laboratory, accurate forecasting of future demand, that is, test volumes, can increase efficiency and facilitate long-term laboratory planning. Importantly, in an era of utilization management initiatives, accurately predicted volumes compared to the realized test volumes can form a precise way to evaluate utilization management initiatives. Laboratory test volumes are often highly amenable to forecasting by time-series models; however, the statistical software needed to do this is generally either expensive or highly technical. In this paper, we describe an open-source web-based software tool for time-series forecasting and explain how to use it as a demand forecasting tool in clinical laboratories to estimate test volumes. This tool has three different models, that is, Holt-Winters multiplicative, Holt-Winters additive, and simple linear regression. Moreover, these models are ranked and the best one is highlighted. This tool will allow anyone with historic test volume data to model future demand.

Open-source software for demand forecasting of clinical laboratory test volumes using time-series analysis

Directory of Open Access Journals (Sweden)

Emad A Mohammed

2017-01-01

Full Text Available Background: Demand forecasting is the area of predictive analytics devoted to predicting future volumes of services or consumables. Fair understanding and estimation of how demand will vary facilitates the optimal utilization of resources. In a medical laboratory, accurate forecasting of future demand, that is, test volumes, can increase efficiency and facilitate long-term laboratory planning. Importantly, in an era of utilization management initiatives, accurately predicted volumes compared to the realized test volumes can form a precise way to evaluate utilization management initiatives. Laboratory test volumes are often highly amenable to forecasting by time-series models; however, the statistical software needed to do this is generally either expensive or highly technical. Method: In this paper, we describe an open-source web-based software tool for time-series forecasting and explain how to use it as a demand forecasting tool in clinical laboratories to estimate test volumes. Results: This tool has three different models, that is, Holt-Winters multiplicative, Holt-Winters additive, and simple linear regression. Moreover, these models are ranked and the best one is highlighted. Conclusion: This tool will allow anyone with historic test volume data to model future demand.

Forecasting the density of oil futures returns using model-free implied volatility and high-frequency data

International Nuclear Information System (INIS)

Ielpo, Florian; Sevi, Benoit

2013-09-01

Forecasting the density of returns is useful for many purposes in finance, such as risk management activities, portfolio choice or derivative security pricing. Existing methods to forecast the density of returns either use prices of the asset of interest or option prices on this same asset. The latter method needs to convert the risk-neutral estimate of the density into a physical measure, which is computationally cumbersome. In this paper, we take the view of a practitioner who observes the implied volatility under the form of an index, namely the recent OVX, to forecast the density of oil futures returns for horizons going from 1 to 60 days. Using the recent methodology in Maheu and McCurdy (2011) to compute density predictions, we compare the performance of time series models using implied volatility and either daily or intra-daily futures prices. Our results indicate that models based on implied volatility deliver significantly better density forecasts at all horizons, which is in line with numerous studies delivering the same evidence for volatility point forecast. (authors)

Asymmetric Realized Volatility Risk

Directory of Open Access Journals (Sweden)

David E. Allen

2014-06-01

Full Text Available In this paper, we document that realized variation measures constructed from high-frequency returns reveal a large degree of volatility risk in stock and index returns, where we characterize volatility risk by the extent to which forecasting errors in realized volatility are substantive. Even though returns standardized by ex post quadratic variation measures are nearly Gaussian, this unpredictability brings considerably more uncertainty to the empirically relevant ex ante distribution of returns. Explicitly modeling this volatility risk is fundamental. We propose a dually asymmetric realized volatility model, which incorporates the fact that realized volatility series are systematically more volatile in high volatility periods. Returns in this framework display time varying volatility, skewness and kurtosis. We provide a detailed account of the empirical advantages of the model using data on the S&P 500 index and eight other indexes and stocks.

The Information Content of Treasury Bond Options Concerning Future Volatility and Price Jumps

DEFF Research Database (Denmark)

Busch, Thomas; Christensen, Bent Jesper; Nielsen, Morten Ørregaard

We study the relation between realized and implied volatility in the bond market. Realizedvolatility is constructed from high-frequency (5-minute) returns on 30 year Treasury bond futures.Implied volatility is backed out from prices of associated bond options. Recent nonparametric statisticaltech......We study the relation between realized and implied volatility in the bond market. Realizedvolatility is constructed from high-frequency (5-minute) returns on 30 year Treasury bond futures.Implied volatility is backed out from prices of associated bond options. Recent nonparametric...... components. We also introduce a new vector HAR (VecHAR) modelfor the resulting simultaneous system, controlling for possible endogeneity of implied volatility inthe forecasting equations. We show that implied volatility is a biased and inefficient forecast in thebond market. However, implied volatility does...

Leading the 21st-century academic library successful strategies for envisioning and realizing preferred futures

CERN Document Server

Eden, Bradford Lee

2015-01-01

Leading the 21st Century Academic Library: Successful Strategies for Envisioning and Realizing Preferred Futures will explore the new roles and directions academic libraries are taking in the 21st century as a consequence of visionary leadership in exploring diverse futures.

Forecasting volatility and spillovers in crude oil spot, forward and future markets

NARCIS (Netherlands)

C-L. Chang (Chia-Lin); M.J. McAleer (Michael); R. Tansuchat (Roengchai)

2009-01-01

textabstractCrude oil price volatility has been analyzed extensively for organized spot, forward and futures markets for well over a decade, and is crucial for forecasting volatility and Value-at-Risk (VaR). There are four major benchmarks in the international oil market, namely West Texas

Extravehicular Activity Technology Development Status and Forecast

Science.gov (United States)

Chullen, Cinda; Westheimer, David T.

2011-01-01

The goal of NASA s current EVA technology effort is to further develop technologies that will be used to demonstrate a robust EVA system that has application for a variety of future missions including microgravity and surface EVA. Overall the objectives will be to reduce system mass, reduce consumables and maintenance, increase EVA hardware robustness and life, increase crew member efficiency and autonomy, and enable rapid vehicle egress and ingress. Over the past several years, NASA realized a tremendous increase in EVA system development as part of the Exploration Technology Development Program and the Constellation Program. The evident demand for efficient and reliable EVA technologies, particularly regenerable technologies was apparent under these former programs and will continue to be needed as future mission opportunities arise. The technological need for EVA in space has been realized over the last several decades by the Gemini, Apollo, Skylab, Space Shuttle, and the International Space Station (ISS) programs. EVAs were critical to the success of these programs. Now with the ISS extension to 2028 in conjunction with a current forecasted need of at least eight EVAs per year, the EVA hardware life and limited availability of the Extravehicular Mobility Units (EMUs) will eventually become a critical issue. The current EMU has successfully served EVA demands by performing critical operations to assemble the ISS and provide repairs of satellites such as the Hubble Space Telescope. However, as the life of ISS and the vision for future mission opportunities are realized, a new EVA systems capability will be needed and the current architectures and technologies under development offer significant improvements over the current flight systems. In addition to ISS, potential mission applications include EVAs for missions to Near Earth Objects (NEO), Phobos, or future surface missions. Surface missions could include either exploration of the Moon or Mars. Providing an

The Realized Hierarchical Archimedean Copula in Risk Modelling

Directory of Open Access Journals (Sweden)

Ostap Okhrin

2017-06-01

Full Text Available This paper introduces the concept of the realized hierarchical Archimedean copula (rHAC. The proposed approach inherits the ability of the copula to capture the dependencies among financial time series, and combines it with additional information contained in high-frequency data. The considered model does not suffer from the curse of dimensionality, and is able to accurately predict high-dimensional distributions. This flexibility is obtained by using a hierarchical structure in the copula. The time variability of the model is provided by daily forecasts of the realized correlation matrix, which is used to estimate the structure and the parameters of the rHAC. Extensive simulation studies show the validity of the estimator based on this realized correlation matrix, and its performance, in comparison to the benchmark models. The application of the estimator to one-day-ahead Value at Risk (VaR prediction using high-frequency data exhibits good forecasting properties for a multivariate portfolio.

When idols look into the future: fair treatment modulates the affective forecasting error in talent show candidates.

Science.gov (United States)

Feys, Marjolein; Anseel, Frederik

2015-03-01

People's affective forecasts are often inaccurate because they tend to overestimate how they will feel after an event. As life decisions are often based on affective forecasts, it is crucial to find ways to manage forecasting errors. We examined the impact of a fair treatment on forecasting errors in candidates in a Belgian reality TV talent show. We found that perceptions of fair treatment increased the forecasting error for losers (a negative audition decision) but decreased it for winners (a positive audition decision). For winners, this effect was even more pronounced when candidates were highly invested in their self-view as a future pop idol whereas for losers, the effect was more pronounced when importance was low. The results in this study point to a potential paradox between maximizing happiness and decreasing forecasting errors. A fair treatment increased the forecasting error for losers, but actually made them happier. © 2014 The British Psychological Society.

EnerFuture: Long Term Energy Scenarios 'Understanding our energy future'. Key graphs and analysis, Enerdata - Global Energy Forecasting

International Nuclear Information System (INIS)

2011-01-01

Enerdata analyses 4 future energy scenarios accounting for 2 economic growth assumptions combined with 2 alternative carbon emission mitigation policies. In this study, a series of analyses supported by graphs assess the energy consumption and intensity forecasts in emerging and developed markets. In particular, one analysis is dedicated to energies competition, including gas, coal and renewable energies. (authors)

Forecasts of county-level land uses under three future scenarios: a technical document supporting the Forest Service 2010 RPA Assessment

Science.gov (United States)

David N. Wear

2011-01-01

Accurately forecasting future forest conditions and the implications for ecosystem services depends on understanding land use dynamics. In support of the 2010 Renewable Resources Planning Act (RPA) Assessment, we forecast changes in land uses for the coterminous United States in response to three scenarios. Our land use models forecast urbanization in response to the...

Adjusting Futures Forecasts of Federal Reserve Policy

DEFF Research Database (Denmark)

Chun, Albert Lee; Chun, Olfa Maalaoui

Our results challenge the traditional way we interpret empirical measures of risk premia, as a signicant part of the predictable component of excess returns is strongly correlated with predictability in survey forecast errors. Using survey forecasts of the federal funds rate to proxy for market e...

Rate of recovery from perturbations as a means to forecast future stability of living systems.

Science.gov (United States)

Ghadami, Amin; Gourgou, Eleni; Epureanu, Bogdan I

2018-06-18

Anticipating critical transitions in complex ecological and living systems is an important need because it is often difficult to restore a system to its pre-transition state once the transition occurs. Recent studies demonstrate that several indicators based on changes in ecological time series can indicate that the system is approaching an impending transition. An exciting question is, however, whether we can predict more characteristics of the future system stability using measurements taken away from the transition. We address this question by introducing a model-less forecasting method to forecast catastrophic transition of an experimental ecological system. The experiment is based on the dynamics of a yeast population, which is known to exhibit a catastrophic transition as the environment deteriorates. By measuring the system's response to perturbations prior to transition, we forecast the distance to the upcoming transition, the type of the transition (i.e., catastrophic/non-catastrophic) and the future equilibrium points within a range near the transition. Experimental results suggest a strong potential for practical applicability of this approach for ecological systems which are at risk of catastrophic transitions, where there is a pressing need for information about upcoming thresholds.

Extravehicular Activity (EVA) Technology Development Status and Forecast

Science.gov (United States)

Chullen, Cinda; Westheimer, David T.

2010-01-01

Beginning in Fiscal Year (FY) 2011, Extravehicular activity (EVA) technology development became a technology foundational domain under a new program Enabling Technology Development and Demonstration. The goal of the EVA technology effort is to further develop technologies that will be used to demonstrate a robust EVA system that has application for a variety of future missions including microgravity and surface EVA. Overall the objectives will be reduce system mass, reduce consumables and maintenance, increase EVA hardware robustness and life, increase crew member efficiency and autonomy, and enable rapid vehicle egress and ingress. Over the past several years, NASA realized a tremendous increase in EVA system development as part of the Exploration Technology Development Program and the Constellation Program. The evident demand for efficient and reliable EVA technologies, particularly regenerable technologies was apparent under these former programs and will continue to be needed as future mission opportunities arise. The technological need for EVA in space has been realized over the last several decades by the Gemini, Apollo, Skylab, Space Shuttle, and the International Space Station (ISS) programs. EVAs were critical to the success of these programs. Now with the ISS extension to 2028 in conjunction with a current forecasted need of at least eight EVAs per year, the EVA technology life and limited availability of the EMUs will become a critical issue eventually. The current Extravehicular Mobility Unit (EMU) has vastly served EVA demands by performing critical operations to assemble the ISS and provide repairs of satellites such as the Hubble Space Telescope. However, as the life of ISS and the vision for future mission opportunities are realized, a new EVA systems capability could be an option for the future mission applications building off of the technology development over the last several years. Besides ISS, potential mission applications include EVAs for

Energy forecasts, perspectives and methods

Energy Technology Data Exchange (ETDEWEB)

Svensson, J E; Mogren, A

1984-01-01

The authors have analyzed different methods for long term energy prognoses, in particular energy consumption forecasts. Energy supply and price prognoses are also treated, but in a less detailed manner. After defining and discussing the various methods/models used in forecasts, a generalized discussion of the influence on the prognoses from the perspectives (background factors, world view, norms, ideology) of the prognosis makers is given. Some basic formal demands that should be asked from any rational forecast are formulated and discussed. The authors conclude that different forecasting methodologies are supplementing each other. There is no best method, forecasts should be accepted as views of the future from differing perspectives. The primary prognostic problem is to show the possible futures, selecting the wanted future is a question of political process.

A general improved methodology to forecasting future oil production: Application to the UK and Norway

International Nuclear Information System (INIS)

Fiévet, L.; Forró, Z.; Cauwels, P.; Sornette, D.

2015-01-01

We present a new Monte-Carlo methodology to forecast the crude oil production of Norway and the U.K. based on a two-step process, (i) the nonlinear extrapolation of the current/past performances of individual oil fields and (ii) a stochastic model of the frequency of future oil field discoveries. Compared with the standard methodology that tends to underestimate remaining oil reserves, our method gives a better description of future oil production, as validated by our back-tests starting in 2008. Specifically, we predict remaining reserves extractable until 2030 to be 5.7 ± 0.3 billion barrels for Norway and 3.0 ± 0.3 billion barrels for the UK, which are respectively 45% and 66% above the predictions using an extrapolation of aggregate production. - Highlights: • Two step methodology to forecast a countries oil production. • Nonlinear extrapolation of the performance of individual fields. • Stochastic model of the frequency of future discoveries. • Backtest starting in 2008 of the methodology. • Improvement upon standard extrapolation of aggregate production

Forecasting of future earthquakes in the northeast region of India considering energy released concept

Science.gov (United States)

Zarola, Amit; Sil, Arjun

2018-04-01

This study presents the forecasting of time and magnitude size of the next earthquake in the northeast India, using four probability distribution models (Gamma, Lognormal, Weibull and Log-logistic) considering updated earthquake catalog of magnitude Mw ≥ 6.0 that occurred from year 1737-2015 in the study area. On the basis of past seismicity of the region, two types of conditional probabilities have been estimated using their best fit model and respective model parameters. The first conditional probability is the probability of seismic energy (e × 1020 ergs), which is expected to release in the future earthquake, exceeding a certain level of seismic energy (E × 1020 ergs). And the second conditional probability is the probability of seismic energy (a × 1020 ergs/year), which is expected to release per year, exceeding a certain level of seismic energy per year (A × 1020 ergs/year). The logarithm likelihood functions (ln L) were also estimated for all four probability distribution models. A higher value of ln L suggests a better model and a lower value shows a worse model. The time of the future earthquake is forecasted by dividing the total seismic energy expected to release in the future earthquake with the total seismic energy expected to release per year. The epicentre of recently occurred 4 January 2016 Manipur earthquake (M 6.7), 13 April 2016 Myanmar earthquake (M 6.9) and the 24 August 2016 Myanmar earthquake (M 6.8) are located in zone Z.12, zone Z.16 and zone Z.15, respectively and that are the identified seismic source zones in the study area which show that the proposed techniques and models yield good forecasting accuracy.

Forecasting interest rates with shifting endpoints

DEFF Research Database (Denmark)

Van Dijk, Dick; Koopman, Siem Jan; Wel, Michel van der

2014-01-01

We consider forecasting the term structure of interest rates with the assumption that factors driving the yield curve are stationary around a slowly time-varying mean or ‘shifting endpoint’. The shifting endpoints are captured using either (i) time series methods (exponential smoothing) or (ii......) long-range survey forecasts of either interest rates or inflation and output growth, or (iii) exponentially smoothed realizations of these macro variables. Allowing for shifting endpoints in yield curve factors provides substantial and significant gains in out-of-sample predictive accuracy, relative...... to stationary and random walk benchmarks. Forecast improvements are largest for long-maturity interest rates and for long-horizon forecasts....

Revisiting the long memory dynamics of implied-realized volatility relation: A new evidence from wavelet band spectrum regression

OpenAIRE

Barunik, Jozef; Barunikova, Michaela

2015-01-01

This paper revisits the fractional co-integrating relationship between ex-ante implied volatility and ex-post realized volatility. Previous studies on stock index options have found biases and inefficiencies in implied volatility as a forecast of future volatility. It is argued that the concept of corridor implied volatility (CIV) should be used instead of the popular model-free option-implied volatility (MFIV) when assessing the relation as the latter may introduce bias to the estimation. In...

Multiresolution forecasting for futures trading using wavelet decompositions.

Science.gov (United States)

Zhang, B L; Coggins, R; Jabri, M A; Dersch, D; Flower, B

2001-01-01

We investigate the effectiveness of a financial time-series forecasting strategy which exploits the multiresolution property of the wavelet transform. A financial series is decomposed into an over complete, shift invariant scale-related representation. In transform space, each individual wavelet series is modeled by a separate multilayer perceptron (MLP). We apply the Bayesian method of automatic relevance determination to choose short past windows (short-term history) for the inputs to the MLPs at lower scales and long past windows (long-term history) at higher scales. To form the overall forecast, the individual forecasts are then recombined by the linear reconstruction property of the inverse transform with the chosen autocorrelation shell representation, or by another perceptron which learns the weight of each scale in the prediction of the original time series. The forecast results are then passed to a money management system to generate trades.

Past speculations of the future: a review of the methods used for forecasting emerging health technologies.

Science.gov (United States)

Doos, Lucy; Packer, Claire; Ward, Derek; Simpson, Sue; Stevens, Andrew

2016-03-10

Forecasting can support rational decision-making around the introduction and use of emerging health technologies and prevent investment in technologies that have limited long-term potential. However, forecasting methods need to be credible. We performed a systematic search to identify the methods used in forecasting studies to predict future health technologies within a 3-20-year timeframe. Identification and retrospective assessment of such methods potentially offer a route to more reliable prediction. Systematic search of the literature to identify studies reported on methods of forecasting in healthcare. People are not needed in this study. The authors searched MEDLINE, EMBASE, PsychINFO and grey literature sources, and included articles published in English that reported their methods and a list of identified technologies. Studies reporting methods used to predict future health technologies within a 3-20-year timeframe with an identified list of individual healthcare technologies. Commercially sponsored reviews, long-term futurology studies (with over 20-year timeframes) and speculative editorials were excluded. 15 studies met our inclusion criteria. Our results showed that the majority of studies (13/15) consulted experts either alone or in combination with other methods such as literature searching. Only 2 studies used more complex forecasting tools such as scenario building. The methodological fundamentals of formal 3-20-year prediction are consistent but vary in details. Further research needs to be conducted to ascertain if the predictions made were accurate and whether accuracy varies by the methods used or by the types of technologies identified. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://www.bmj.com/company/products-services/rights-and-licensing/

Motivated prediction of future feelings: effects of negative mood and mood orientation on affective forecasts.

Science.gov (United States)

Buehler, Roger; McFarland, Cathy; Spyropoulos, Vassili; Lam, Kent C H

2007-09-01

This article examines the role of motivational factors in affective forecasting. The primary hypothesis was that people predict positive emotional reactions to future events when they are motivated to enhance their current feelings. Three experiments manipulated participants' moods (negative vs. neutral) and orientation toward their moods (reflective vs. ruminative) and then assessed the positivity of their affective predictions for future events. As hypothesized, when participants adopted a reflective orientation, and thus should have been motivated to engage in mood-regulation processes, they predicted more positive feelings in the negative than in the neutral mood condition. This pattern of mood-incongruent affective prediction was not exhibited when participants adopted a ruminative orientation. Additionally, within the negative mood condition, generating affective forecasts had a more positive emotional impact on reflectors than on ruminators. The findings suggest that affective predictions are sometimes driven by mood-regulatory motives.

Urban runoff forecasting with ensemble weather predictions

DEFF Research Database (Denmark)

Pedersen, Jonas Wied; Courdent, Vianney Augustin Thomas; Vezzaro, Luca

This research shows how ensemble weather forecasts can be used to generate urban runoff forecasts up to 53 hours into the future. The results highlight systematic differences between ensemble members that needs to be accounted for when these forecasts are used in practice.......This research shows how ensemble weather forecasts can be used to generate urban runoff forecasts up to 53 hours into the future. The results highlight systematic differences between ensemble members that needs to be accounted for when these forecasts are used in practice....

High-Resolution Hydrological Sub-Seasonal Forecasting for Water Resources Management Over Europe

Science.gov (United States)

Wood, E. F.; Wanders, N.; Pan, M.; Sheffield, J.; Samaniego, L. E.; Thober, S.; Kumar, R.; Prudhomme, C.; Houghton-Carr, H.

2017-12-01

For decision-making at the sub-seasonal and seasonal time scale, hydrological forecasts with a high temporal and spatial resolution are required by water managers. So far such forecasts have been unavailable due to 1) lack of availability of meteorological seasonal forecasts, 2) coarse temporal resolution of meteorological seasonal forecasts, requiring temporal downscaling, 3) lack of consistency between observations and seasonal forecasts, requiring bias-correction. The EDgE (End-to-end Demonstrator for improved decision making in the water sector in Europe) project commissioned by the ECMWF (C3S) created a unique dataset of hydrological seasonal forecasts derived from four global climate models (CanCM4, FLOR-B01, ECMF, LFPW) in combination with four global hydrological models (PCR-GLOBWB, VIC, mHM, Noah-MP), resulting in 208 forecasts for any given day. The forecasts provide a daily temporal and 5-km spatial resolution, and are bias corrected against E-OBS meteorological observations. The forecasts are communicated to stakeholders via Sectoral Climate Impact Indicators (SCIIs), created in collaboration with the end-user community of the EDgE project (e.g. the percentage of ensemble realizations above the 10th percentile of monthly river flow, or below the 90th). Results show skillful forecasts for discharge from 3 months to 6 months (latter for N Europe due to snow); for soil moisture up to three months due precipitation forecast skill and short initial condition memory; and for groundwater greater than 6 months (lowest skill in western Europe.) The SCIIs are effective in communicating both forecast skill and uncertainty. Overall the new system provides an unprecedented ensemble for seasonal forecasts with significant skill over Europe to support water management. The consistency in both the GCM forecasts and the LSM parameterization ensures a stable and reliable forecast framework and methodology, even if additional GCMs or LSMs are added in the future.

Forecasting Trends in Disability in a Super-Aging Society: Adapting the Future Elderly Model to Japan

Science.gov (United States)

Chen, Brian K.; Jalal, Hawre; Hashimoto, Hideki; Suen, Sze-chuan; Eggleston, Karen; Hurley, Michael; Schoemaker, Lena; Bhattacharya, Jay

2016-01-01

Japan has experienced pronounced population aging, and now has the highest proportion of elderly adults in the world. Yet few projections of Japan’s future demography go beyond estimating population by age and sex to forecast the complex evolution of the health and functioning of the future elderly. This study estimates a new state-transition microsimulation model – the Japanese Future Elderly Model (FEM) – for Japan. We use the model to forecast disability and health for Japan’s future elderly. Our simulation suggests that by 2040, over 27 percent of Japan’s elderly will exhibit 3 or more limitations in IADLs and social functioning; almost one in 4 will experience difficulties with 3 or more ADLs; and approximately one in 5 will suffer limitations in cognitive or intellectual functioning. Since the majority of the increase in disability arises from the aging of the Japanese population, prevention efforts that reduce age-specific morbidity can help reduce the burden of disability but may have only a limited impact on reducing the overall prevalence of disability among Japanese elderly. While both age and morbidity contribute to a predicted increase in disability burden among elderly Japanese in the future, our simulation results suggest that the impact of population aging exceeds the effect of age-specific morbidity on increasing disability in Japan’s future. PMID:28580275

"Forecasting Volatility and Spillovers in Crude Oil Spot, Forward and Futures Markets"

OpenAIRE

Chia-Lin Chang; Michael McAleer; Roengchai Tansuchat

2009-01-01

Crude oil price volatility has been analyzed extensively for organized spot, forward and futures markets for well over a decade, and is crucial for forecasting volatility and Value-at- Risk (VaR). There are four major benchmarks in the international oil market, namely West Texas Intermediate (USA), Brent (North Sea), Dubai/Oman (Middle East), and Tapis (Asia- Pacific), which are likely to be highly correlated. This paper analyses the volatility spillover effects across and within the four mar...

Evaluating FOMC forecast ranges: an interval data approach

OpenAIRE

Henning Fischer; Marta García-Bárzana; Peter Tillmann; Peter Winker

2012-01-01

The Federal Open Market Committee (FOMC) of the U.S. Federal Reserve publishes the range of members' forecasts for key macroeconomic variables, but not the distribution of forecasts within this range. To evaluate these projections, previous papers compare the midpoint of the ranges with the realized outcome. This paper proposes a new approach to forecast evaluation that takes account of the interval nature of projections. It is shown that using the conventional Mincer-Zarnowitz approach to ev...

An Improved Approach for Forecasting Ecological Impacts from Future Drilling in Unconventional Shale Oil and Gas Plays.

Science.gov (United States)

Wolaver, Brad D; Pierre, Jon Paul; Ikonnikova, Svetlana A; Andrews, John R; McDaid, Guinevere; Ryberg, Wade A; Hibbitts, Toby J; Duran, Charles M; Labay, Benjamin J; LaDuc, Travis J

2018-04-13

Directional well drilling and hydraulic fracturing has enabled energy production from previously inaccessible resources, but caused vegetation conversion and landscape fragmentation, often in relatively undisturbed habitats. We improve forecasts of future ecological impacts from unconventional oil and gas play developments using a new, more spatially-explicit approach. We applied an energy production outlook model, which used geologic and economic data from thousands of wells and three oil price scenarios, to map future drilling patterns and evaluate the spatial distribution of vegetation conversion and habitat impacts. We forecast where future well pad construction may be most intense, illustrating with an example from the Eagle Ford Shale Play of Texas. We also illustrate the ecological utility of this approach using the Spot-tailed Earless Lizard (Holbrookia lacerata) as the focal species, which historically occupied much of the Eagle Ford and awaits a federal decision for possible Endangered Species Act protection. We found that ~17,000-45,500 wells would be drilled 2017‒2045 resulting in vegetation conversion of ~26,485-70,623 ha (0.73-1.96% of pre-development vegetation), depending on price scenario ($40-$80/barrel). Grasslands and row crop habitats were most affected (2.30 and 2.82% areal vegetation reduction). Our approach improves forecasts of where and to what extent future energy development in unconventional plays may change land-use and ecosystem services, enabling natural resource managers to anticipate and direct on-the-ground conservation actions to places where they will most effectively mitigate ecological impacts of well pads and associated infrastructure.

Rebuttal of "Polar bear population forecasts: a public-policy forecasting audit"

Science.gov (United States)

Amstrup, Steven C.; Caswell, Hal; DeWeaver, Eric; Stirling, Ian; Douglas, David C.; Marcot, Bruce G.; Hunter, Christine M.

2009-01-01

Observed declines in the Arctic sea ice have resulted in a variety of negative effects on polar bears (Ursus maritimus). Projections for additional future declines in sea ice resulted in a proposal to list polar bears as a threatened species under the United States Endangered Species Act. To provide information for the Department of the Interior's listing-decision process, the US Geological Survey (USGS) produced a series of nine research reports evaluating the present and future status of polar bears throughout their range. In response, Armstrong et al. [Armstrong, J. S., K. C. Green, W. Soon. 2008. Polar bear population forecasts: A public-policy forecasting audit. Interfaces 38(5) 382–405], which we will refer to as AGS, performed an audit of two of these nine reports. AGS claimed that the general circulation models upon which the USGS reports relied were not valid forecasting tools, that USGS researchers were not objective or lacked independence from policy decisions, that they did not utilize all available information in constructing their forecasts, and that they violated numerous principles of forecasting espoused by AGS. AGS (p. 382) concluded that the two USGS reports were "unscientific and inconsequential to decision makers." We evaluate the AGS audit and show how AGS are mistaken or misleading on every claim. We provide evidence that general circulation models are useful in forecasting future climate conditions and that corporate and government leaders are relying on these models to do so. We clarify the strict independence of the USGS from the listing decision. We show that the allegations of failure to follow the principles of forecasting espoused by AGS are either incorrect or are based on misconceptions about the Arctic environment, polar bear biology, or statistical and mathematical methods. We conclude by showing that the AGS principles of forecasting are too ambiguous and subjective to be used as a reliable basis for auditing scientific

Wind power forecasting: IEA Wind Task 36 & future research issues

DEFF Research Database (Denmark)

Giebel, Gregor; Cline, J.; Frank, Helmut Paul

2016-01-01

the weather prediction side and from the usage of the forecasts. The new International Energy Agency (IEA) Task on Forecasting for Wind Energy tries to organise international collaboration, among national meteorological centres with an interest and/or large projects on wind forecast improvements (NOAA, DWD...

Simulation of regional day-ahead PV power forecast scenarios

DEFF Research Database (Denmark)

Nuno, Edgar; Koivisto, Matti Juhani; Cutululis, Nicolaos Antonio

2017-01-01

Uncertainty associated with Photovoltaic (PV) generation can have a significant impact on real-time planning and operation of power systems. This obstacle is commonly handled using multiple forecast realizations, obtained using for example forecast ensembles and/or probabilistic forecasts, often...... at the expense of a high computational burden. Alternatively, some power system applications may require realistic forecasts rather than actual estimates; able to capture the uncertainty of weatherdriven generation. To this end, we propose a novel methodology to generate day-ahead forecast scenarios of regional...... PV production matching the spatio-temporal characteristics while preserving the statistical properties of actual records....

DEVELOPMENT OF THE PROBABLY-GEOGRAPHICAL FORECAST METHOD FOR DANGEROUS WEATHER PHENOMENA

Directory of Open Access Journals (Sweden)

Elena S. Popova

2015-12-01

Full Text Available This paper presents a scheme method of probably-geographical forecast for dangerous weather phenomena. Discuss two general realization stages of this method. Emphasize that developing method is response to actual questions of modern weather forecast and it’s appropriate phenomena: forecast is carried out for specific point in space and appropriate moment of time.

Analyzing and Forecasting Volatility Spillovers and Asymmetries in Major Crude Oil Spot, Forward and Futures Markets

NARCIS (Netherlands)

C-L. Chang (Chia-Lin); M.J. McAleer (Michael); R. Tansuchat (Roengchai)

2010-01-01

textabstractCrude oil price volatility has been analyzed extensively for organized spot, forward and futures markets for well over a decade, and is crucial for forecasting volatility and Value-at-Risk (VaR). There are four major benchmarks in the international oil market, namely West Texas

Forecasting East Asian Indices Futures via a Novel Hybrid of Wavelet-PCA Denoising and Artificial Neural Network Models

Science.gov (United States)

2016-01-01

The motivation behind this research is to innovatively combine new methods like wavelet, principal component analysis (PCA), and artificial neural network (ANN) approaches to analyze trade in today’s increasingly difficult and volatile financial futures markets. The main focus of this study is to facilitate forecasting by using an enhanced denoising process on market data, taken as a multivariate signal, in order to deduct the same noise from the open-high-low-close signal of a market. This research offers evidence on the predictive ability and the profitability of abnormal returns of a new hybrid forecasting model using Wavelet-PCA denoising and ANN (named WPCA-NN) on futures contracts of Hong Kong’s Hang Seng futures, Japan’s NIKKEI 225 futures, Singapore’s MSCI futures, South Korea’s KOSPI 200 futures, and Taiwan’s TAIEX futures from 2005 to 2014. Using a host of technical analysis indicators consisting of RSI, MACD, MACD Signal, Stochastic Fast %K, Stochastic Slow %K, Stochastic %D, and Ultimate Oscillator, empirical results show that the annual mean returns of WPCA-NN are more than the threshold buy-and-hold for the validation, test, and evaluation periods; this is inconsistent with the traditional random walk hypothesis, which insists that mechanical rules cannot outperform the threshold buy-and-hold. The findings, however, are consistent with literature that advocates technical analysis. PMID:27248692

Improving the effectiveness of real-time flood forecasting through Predictive Uncertainty estimation: the multi-temporal approach

Science.gov (United States)

Barbetta, Silvia; Coccia, Gabriele; Moramarco, Tommaso; Todini, Ezio

2015-04-01

The negative effects of severe flood events are usually contrasted through structural measures that, however, do not fully eliminate flood risk. Non-structural measures, such as real-time flood forecasting and warning, are also required. Accurate stage/discharge future predictions with appropriate forecast lead-time are sought by decision-makers for implementing strategies to mitigate the adverse effects of floods. Traditionally, flood forecasting has been approached by using rainfall-runoff and/or flood routing modelling. Indeed, both types of forecasts, cannot be considered perfectly representing future outcomes because of lacking of a complete knowledge of involved processes (Todini, 2004). Nonetheless, although aware that model forecasts are not perfectly representing future outcomes, decision makers are de facto implicitly assuming the forecast of water level/discharge/volume, etc. as "deterministic" and coinciding with what is going to occur. Recently the concept of Predictive Uncertainty (PU) was introduced in hydrology (Krzysztofowicz, 1999), and several uncertainty processors were developed (Todini, 2008). PU is defined as the probability of occurrence of the future realization of a predictand (water level/discharge/volume) conditional on: i) prior observations and knowledge, ii) the available information obtained on the future value, typically provided by one or more forecast models. Unfortunately, PU has been frequently interpreted as a measure of lack of accuracy rather than the appropriate tool allowing to take the most appropriate decisions, given a model or several models' forecasts. With the aim to shed light on the benefits for appropriately using PU, a multi-temporal approach based on the MCP approach (Todini, 2008; Coccia and Todini, 2011) is here applied to stage forecasts at sites along the Upper Tiber River. Specifically, the STAge Forecasting-Rating Curve Model Muskingum-based (STAFOM-RCM) (Barbetta et al., 2014) along with the Rating

Forecast Of International Security Threat Of Russia In 2017

Directory of Open Access Journals (Sweden)

A. O. Bezrukov

2017-01-01

Full Text Available The article analyzes the threats to international security of Russia in 2017. It presents the analysis of the twelve situations, the development of which could have a significant effect on the interests of Russia in the field of international security. There is the most probable scenario for every situation and a list of conditions of its occurrence. The objective of the forecast is reduction of uncertainty of the future and the promotion of reasonable hypotheses about its likely scenarios. The forecast task is to help decision-makers, mentally put yourself in a situation in which realized one of the scenarios for the future and to encourage them to calculate their possible actions. In the preparation of the forecast two scenario analysis tools were used: the allocation of two key variables, the ratio of which determines the spectrum of the analyzed scenarios, and the key events method, which consists of several stages and allows to evaluate the prospect of implementing the scenario observed in real time. Authors conclude that the USA with the new president will be forced to choose between maintaining global posture and keeping order at home, and the EU will be absorbed by internal issues. In 2017 for Russia is important to keep the positive dynamics in the Transatlantic and Grand Eurasia regions, and in the Middle East. For this purpose it is necessary to ignore the provocations – mainly in Europe. The source of a new crisis may be NATO members discouraged by lack of attention to them by the USA or allies of Russia.

Exploring heterogeneous market hypothesis using realized volatility

Science.gov (United States)

Chin, Wen Cheong; Isa, Zaidi; Mohd Nor, Abu Hassan Shaari

2013-04-01

This study investigates the heterogeneous market hypothesis using high frequency data. The cascaded heterogeneous trading activities with different time durations are modelled by the heterogeneous autoregressive framework. The empirical study indicated the presence of long memory behaviour and predictability elements in the financial time series which supported heterogeneous market hypothesis. Besides the common sum-of-square intraday realized volatility, we also advocated two power variation realized volatilities in forecast evaluation and risk measurement in order to overcome the possible abrupt jumps during the credit crisis. Finally, the empirical results are used in determining the market risk using the value-at-risk approach. The findings of this study have implications for informationally market efficiency analysis, portfolio strategies and risk managements.

Structural changes and out-of-sample prediction of realized range-based variance in the stock market

Science.gov (United States)

Gong, Xu; Lin, Boqiang

2018-03-01

This paper aims to examine the effects of structural changes on forecasting the realized range-based variance in the stock market. Considering structural changes in variance in the stock market, we develop the HAR-RRV-SC model on the basis of the HAR-RRV model. Subsequently, the HAR-RRV and HAR-RRV-SC models are used to forecast the realized range-based variance of S&P 500 Index. We find that there are many structural changes in variance in the U.S. stock market, and the period after the financial crisis contains more structural change points than the period before the financial crisis. The out-of-sample results show that the HAR-RRV-SC model significantly outperforms the HAR-BV model when they are employed to forecast the 1-day, 1-week, and 1-month realized range-based variances, which means that structural changes can improve out-of-sample prediction of realized range-based variance. The out-of-sample results remain robust across the alternative rolling fixed-window, the alternative threshold value in ICSS algorithm, and the alternative benchmark models. More importantly, we believe that considering structural changes can help improve the out-of-sample performances of most of other existing HAR-RRV-type models in addition to the models used in this paper.

Latent Patient Cluster Discovery for Robust Future Forecasting and New-Patient Generalization.

Directory of Open Access Journals (Sweden)

Ting Qian

Full Text Available Commonly referred to as predictive modeling, the use of machine learning and statistical methods to improve healthcare outcomes has recently gained traction in biomedical informatics research. Given the vast opportunities enabled by large Electronic Health Records (EHR data and powerful resources for conducting predictive modeling, we argue that it is yet crucial to first carefully examine the prediction task and then choose predictive methods accordingly. Specifically, we argue that there are at least three distinct prediction tasks that are often conflated in biomedical research: 1 data imputation, where a model fills in the missing values in a dataset, 2 future forecasting, where a model projects the development of a medical condition for a known patient based on existing observations, and 3 new-patient generalization, where a model transfers the knowledge learned from previously observed patients to newly encountered ones. Importantly, the latter two tasks-future forecasting and new-patient generalizations-tend to be more difficult than data imputation as they require predictions to be made on potentially out-of-sample data (i.e., data following a different predictable pattern from what has been learned by the model. Using hearing loss progression as an example, we investigate three regression models and show that the modeling of latent clusters is a robust method for addressing the more challenging prediction scenarios. Overall, our findings suggest that there exist significant differences between various kinds of prediction tasks and that it is important to evaluate the merits of a predictive model relative to the specific purpose of a prediction task.

Latent Patient Cluster Discovery for Robust Future Forecasting and New-Patient Generalization.

Science.gov (United States)

Qian, Ting; Masino, Aaron J

2016-01-01

Commonly referred to as predictive modeling, the use of machine learning and statistical methods to improve healthcare outcomes has recently gained traction in biomedical informatics research. Given the vast opportunities enabled by large Electronic Health Records (EHR) data and powerful resources for conducting predictive modeling, we argue that it is yet crucial to first carefully examine the prediction task and then choose predictive methods accordingly. Specifically, we argue that there are at least three distinct prediction tasks that are often conflated in biomedical research: 1) data imputation, where a model fills in the missing values in a dataset, 2) future forecasting, where a model projects the development of a medical condition for a known patient based on existing observations, and 3) new-patient generalization, where a model transfers the knowledge learned from previously observed patients to newly encountered ones. Importantly, the latter two tasks-future forecasting and new-patient generalizations-tend to be more difficult than data imputation as they require predictions to be made on potentially out-of-sample data (i.e., data following a different predictable pattern from what has been learned by the model). Using hearing loss progression as an example, we investigate three regression models and show that the modeling of latent clusters is a robust method for addressing the more challenging prediction scenarios. Overall, our findings suggest that there exist significant differences between various kinds of prediction tasks and that it is important to evaluate the merits of a predictive model relative to the specific purpose of a prediction task.

Forecasting of future changes of state with the aid of Markov chains; Prognose zukuenftiger Zustandsaenderungen mit Markow-Ketten

Energy Technology Data Exchange (ETDEWEB)

Kaflowski, Grzegorz; Kizilcay, Mustafa [Siegen Univ. (Germany). Lehrstuhl fuer Elektrische Energieversorgung

2010-02-15

In long-term planning of modernization measures in electric power supplies, forecasting of the future behaviour of the equipment is of great importance for its optimum utilization. Based on limited historical information on the technical condition of a collective of equipment, its future changes of condition can be modelled using Markov chains, which may support an assessment of the time of modernization or replacement. (orig.)

Optimal operation and forecasting policy for pump storage plants in day-ahead markets

International Nuclear Information System (INIS)

Muche, Thomas

2014-01-01

Highlights: • We investigate unit commitment deploying stochastic and deterministic approaches. • We consider day-ahead markets, its forecast and weekly price based unit commitment. • Stochastic and deterministic unit commitment are identical for the first planning day. • Unit commitment and bidding policy can be based on the deterministic approach. • Robust forecasting models should be estimated based on the whole planning horizon. - Abstract: Pump storage plants are an important electricity storage technology at present. Investments in this technology are expected to increase. The necessary investment valuation often includes expected cash flows from future price-based unit commitment policies. A price-based unit commitment policy has to consider market price uncertainty and the information revealing nature of electricity markets. For this environment stochastic programming models are suggested to derive the optimal unit commitment policy. For the considered day-ahead price electricity market stochastic and deterministic unit commitment policies are comparable suggesting an application of easier implementable deterministic models. In order to identify suitable unit commitment and forecasting policies, deterministic unit commitment models are applied to actual day-ahead electricity prices of a whole year. As a result, a robust forecasting model should consider the unit commitment planning period. This robust forecasting models result in expected cash flows similar to realized ones allowing a reliable investment valuation

Linear and non-linear Modified Gravity forecasts with future surveys

Science.gov (United States)

Casas, Santiago; Kunz, Martin; Martinelli, Matteo; Pettorino, Valeria

2017-12-01

Modified Gravity theories generally affect the Poisson equation and the gravitational slip in an observable way, that can be parameterized by two generic functions (η and μ) of time and space. We bin their time dependence in redshift and present forecasts on each bin for future surveys like Euclid. We consider both Galaxy Clustering and Weak Lensing surveys, showing the impact of the non-linear regime, with two different semi-analytical approximations. In addition to these future observables, we use a prior covariance matrix derived from the Planck observations of the Cosmic Microwave Background. In this work we neglect the information from the cross correlation of these observables, and treat them as independent. Our results show that η and μ in different redshift bins are significantly correlated, but including non-linear scales reduces or even eliminates the correlation, breaking the degeneracy between Modified Gravity parameters and the overall amplitude of the matter power spectrum. We further apply a Zero-phase Component Analysis and identify which combinations of the Modified Gravity parameter amplitudes, in different redshift bins, are best constrained by future surveys. We extend the analysis to two particular parameterizations of μ and η and consider, in addition to Euclid, also SKA1, SKA2, DESI: we find in this case that future surveys will be able to constrain the current values of η and μ at the 2-5% level when using only linear scales (wavevector k < 0 . 15 h/Mpc), depending on the specific time parameterization; sensitivity improves to about 1% when non-linearities are included.

Towards smart energy systems: application of kernel machine regression for medium term electricity load forecasting.

Science.gov (United States)

Alamaniotis, Miltiadis; Bargiotas, Dimitrios; Tsoukalas, Lefteri H

2016-01-01

Integration of energy systems with information technologies has facilitated the realization of smart energy systems that utilize information to optimize system operation. To that end, crucial in optimizing energy system operation is the accurate, ahead-of-time forecasting of load demand. In particular, load forecasting allows planning of system expansion, and decision making for enhancing system safety and reliability. In this paper, the application of two types of kernel machines for medium term load forecasting (MTLF) is presented and their performance is recorded based on a set of historical electricity load demand data. The two kernel machine models and more specifically Gaussian process regression (GPR) and relevance vector regression (RVR) are utilized for making predictions over future load demand. Both models, i.e., GPR and RVR, are equipped with a Gaussian kernel and are tested on daily predictions for a 30-day-ahead horizon taken from the New England Area. Furthermore, their performance is compared to the ARMA(2,2) model with respect to mean average percentage error and squared correlation coefficient. Results demonstrate the superiority of RVR over the other forecasting models in performing MTLF.

Realized GARCH: A Complete Model of Returns and Realized Measures of Volatility

DEFF Research Database (Denmark)

Hansen, Peter Reinhard; Huang, Zhuo (Albert); Shek, Howard Howan

GARCH models have been successful in modeling financial returns. Still, much is to be gained by incorporating a realized measure of volatility in these models. In this paper we introduce a new framework for the joint modeling of returns and realized measures of volatility. The Realized GARCH...... framework nests most GARCH models as special cases and is, in many ways, a natural extension of standard GARCH models. We pay special attention to linear and log-linear Realized GARCH specifications. This class of models has several attractive features. It retains the simplicity and tractability...... to latent volatility. This equation facilitates a simple modeling of the dependence between returns and future volatility that is commonly referred to as the leverage effect. An empirical application with DJIA stocks and an exchange traded index fund shows that a simple Realized GARCH structure leads...

Forecasting fluid milk and cheese demands for the next decade.

Science.gov (United States)

Schmit, T M; Kaiser, H M

2006-12-01

Predictions of future market demands and farm prices for dairy products are important determinants in developing marketing strategies and farm-production planning decisions. The objective of this report was to use current aggregate forecast data, combined with existing econometric models of demand and supply, to forecast retail demands for fluid milk and cheese and the supply and price of farm milk over the next decade. In doing so, we can investigate whether projections of population and consumer food-spending patterns will extend or alter current consumption trends and examine the implications of future generic advertising strategies for dairy products. To conduct the forecast simulations and appropriately allocate the farm milk supply to various uses, we used a partial equilibrium model of the US domestic dairy sector that segmented the industry into retail, wholesale, and farm markets. Model simulation results indicated that declines in retail per capita demand would persist but at a reduced rate from years past and that retail per capita demand for cheese would continue to grow and strengthen over the next decade. These predictions rely on expected changes in the size of populations of various ages, races, and ethnicities and on existing patterns of spending on food at home and away from home. The combined effect of these forecasted changes in demand levels was reflected in annualized growth in the total farm-milk supply that was similar to growth realized during the past few years. Although we expect nominal farm milk prices to increase over the next decade, we expect real prices (relative to assumed growth in feed costs) to remain relatively stable and show no increase until the end of the forecast period. Supplemental industry model simulations also suggested that net losses in producer revenues would result if only nominal levels of generic advertising spending were maintained in forthcoming years. In fact, if real generic advertising expenditures are

Solid low-level waste forecasting guide

International Nuclear Information System (INIS)

Templeton, K.J.; Dirks, L.L.

1995-03-01

Guidance for forecasting solid low-level waste (LLW) on a site-wide basis is described in this document. Forecasting is defined as an approach for collecting information about future waste receipts. The forecasting approach discussed in this document is based solely on hanford's experience within the last six years. Hanford's forecasting technique is not a statistical forecast based upon past receipts. Due to waste generator mission changes, startup of new facilities, and waste generator uncertainties, statistical methods have proven to be inadequate for the site. It is recommended that an approach similar to Hanford's annual forecasting strategy be implemented at each US Department of Energy (DOE) installation to ensure that forecast data are collected in a consistent manner across the DOE complex. Hanford's forecasting strategy consists of a forecast cycle that can take 12 to 30 months to complete. The duration of the cycle depends on the number of LLW generators and staff experience; however, the duration has been reduced with each new cycle. Several uncertainties are associated with collecting data about future waste receipts. Volume, shipping schedule, and characterization data are often reported as estimates with some level of uncertainty. At Hanford, several methods have been implemented to capture the level of uncertainty. Collection of a maximum and minimum volume range has been implemented as well as questionnaires to assess the relative certainty in the requested data

Affective forecasting and self-rated symptoms of depression, anxiety, and hypomania: evidence for a dysphoric forecasting bias.

Science.gov (United States)

Hoerger, Michael; Quirk, Stuart W; Chapman, Benjamin P; Duberstein, Paul R

2012-01-01

Emerging research has examined individual differences in affective forecasting; however, we are aware of no published study to date linking psychopathology symptoms to affective forecasting problems. Pitting cognitive theory against depressive realism theory, we examined whether dysphoria was associated with negatively biased affective forecasts or greater accuracy. Participants (n=325) supplied predicted and actual emotional reactions for three days surrounding an emotionally evocative relational event, Valentine's Day. Predictions were made a month prior to the holiday. Consistent with cognitive theory, we found evidence for a dysphoric forecasting bias-the tendency of individuals in dysphoric states to overpredict negative emotional reactions to future events. The dysphoric forecasting bias was robust across ratings of positive and negative affect, forecasts for pleasant and unpleasant scenarios, continuous and categorical operationalisations of dysphoria, and three time points of observation. Similar biases were not observed in analyses examining the independent effects of anxiety and hypomania. Findings provide empirical evidence for the long-assumed influence of depressive symptoms on future expectations. The present investigation has implications for affective forecasting studies examining information-processing constructs, decision making, and broader domains of psychopathology.

Affective Forecasting and Self-Rated Symptoms of Depression, Anxiety, and Hypomania: Evidence for a Dysphoric Forecasting Bias

Science.gov (United States)

Hoerger, Michael; Quirk, Stuart W.; Chapman, Benjamin P.; Duberstein, Paul R.

2011-01-01

Emerging research has examined individual differences in affective forecasting; however, we are aware of no published study to date linking psychopathology symptoms to affective forecasting problems. Pitting cognitive theory against depressive realism theory, we examined whether dysphoria was associated with negatively biased affective forecasts or greater accuracy. Participants (n = 325) supplied predicted and actual emotional reactions for three days surrounding an emotionally-evocative relational event, Valentine’s Day. Predictions were made a month prior to the holiday. Consistent with cognitive theory, we found evidence for a dysphoric forecasting bias – the tendency of individuals in dysphoric states to overpredict negative emotional reactions to future events. The dysphoric forecasting bias was robust across ratings of positive and negative affect, forecasts for pleasant and unpleasant scenarios, continuous and categorical operationalizations of dysphoria, and three time points of observation. Similar biases were not observed in analyses examining the independent effects of anxiety and hypomania. Findings provide empirical evidence for the long assumed influence of depressive symptoms on future expectations. The present investigation has implications for affective forecasting studies examining information processing constructs, decision making, and broader domains of psychopathology. PMID:22397734

Bayesian flood forecasting methods: A review

Science.gov (United States)

Han, Shasha; Coulibaly, Paulin

2017-08-01

Over the past few decades, floods have been seen as one of the most common and largely distributed natural disasters in the world. If floods could be accurately forecasted in advance, then their negative impacts could be greatly minimized. It is widely recognized that quantification and reduction of uncertainty associated with the hydrologic forecast is of great importance for flood estimation and rational decision making. Bayesian forecasting system (BFS) offers an ideal theoretic framework for uncertainty quantification that can be developed for probabilistic flood forecasting via any deterministic hydrologic model. It provides suitable theoretical structure, empirically validated models and reasonable analytic-numerical computation method, and can be developed into various Bayesian forecasting approaches. This paper presents a comprehensive review on Bayesian forecasting approaches applied in flood forecasting from 1999 till now. The review starts with an overview of fundamentals of BFS and recent advances in BFS, followed with BFS application in river stage forecasting and real-time flood forecasting, then move to a critical analysis by evaluating advantages and limitations of Bayesian forecasting methods and other predictive uncertainty assessment approaches in flood forecasting, and finally discusses the future research direction in Bayesian flood forecasting. Results show that the Bayesian flood forecasting approach is an effective and advanced way for flood estimation, it considers all sources of uncertainties and produces a predictive distribution of the river stage, river discharge or runoff, thus gives more accurate and reliable flood forecasts. Some emerging Bayesian forecasting methods (e.g. ensemble Bayesian forecasting system, Bayesian multi-model combination) were shown to overcome limitations of single model or fixed model weight and effectively reduce predictive uncertainty. In recent years, various Bayesian flood forecasting approaches have been

Spatial load forecasting

Energy Technology Data Exchange (ETDEWEB)

Willis, H.L.; Engel, M.V.; Buri, M.J.

1995-04-01

The reliability, efficiency, and economy of a power delivery system depend mainly on how well its substations, transmission lines, and distribution feeders are located within the utility service area, and how well their capacities match power needs in their respective localities. Often, utility planners are forced to commit to sites, rights of way, and equipment capacities year in advance. A necessary element of effective expansion planning is a forecast of where and how much demand must be served by the future T and D system. This article reports that a three-stage method forecasts with accuracy and detail, allowing meaningful determination of sties and sizes for future substation, transmission, and distribution facilities.

Problems of Forecast

OpenAIRE

Kucharavy , Dmitry; De Guio , Roland

2005-01-01

International audience; The ability to foresee future technology is a key task of Innovative Design. The paper focuses on the obstacles to reliable prediction of technological evolution for the purpose of Innovative Design. First, a brief analysis of problems for existing forecasting methods is presented. The causes for the complexity of technology prediction are discussed in the context of reduction of the forecast errors. Second, using a contradiction analysis, a set of problems related to ...

Long-term forecast 2010; Laangsiktsprognos 2010

Energy Technology Data Exchange (ETDEWEB)

2011-07-01

This report presents the energy forecast to the year 2030, and two different sensitivity scenarios. The forecast is based on existing instruments, which means that the report's findings should not be considered a proper forecast of the future energy use, but as an impact assessment of existing policy instruments, given different circumstances such as economic growth and fuel prices

Short-term natural gas consumption forecasting

International Nuclear Information System (INIS)

Potocnik, P.; Govekar, E.; Grabec, I.

2007-01-01

Energy forecasting requirements for Slovenia's natural gas market were investigated along with the cycles of natural gas consumption. This paper presented a short-term natural gas forecasting approach where the daily, weekly and yearly gas consumption were analyzed and the information obtained was incorporated into the forecasting model for hourly forecasting for the next day. The natural gas market depends on forecasting in order to optimize the leasing of storage capacities. As such, natural gas distribution companies have an economic incentive to accurately forecast their future gas consumption. The authors proposed a forecasting model with the following properties: two submodels for the winter and summer seasons; input variables including past consumption data, weather data, weather forecasts and basic cycle indexes; and, a hierarchical forecasting structure in which a daily model was used as the basis, with the hourly forecast obtained by modeling the relative daily profile. This proposed method was illustrated by a forecasting example for Slovenia's natural gas market. 11 refs., 11 figs

High-frequency volatility combine forecast evaluations: An empirical study for DAX

Directory of Open Access Journals (Sweden)

Wen Cheong Chin

2017-01-01

Full Text Available This study aims to examine the benefits of combining realized volatility, higher power variation volatility and nearest neighbour truncation volatility in the forecasts of financial stock market of DAX. A structural break heavy-tailed heterogeneous autoregressive model under the heterogeneous market hypothesis specification is employed to capture the stylized facts of high-frequency empirical data. Using selected averaging forecast methods, the forecast weights are assigned based on the simple average, simple median, least squares and mean square error. The empirical results indicated that the combination of forecasts in general shown superiority under four evaluation criteria regardless which proxy is set as the actual volatility. As a conclusion, we summarized that the forecast performance is influenced by three factors namely the types of volatility proxy, forecast methods (individual or averaging forecast and lastly the type of actual forecast value used in the evaluation criteria.

Future Savvy

DEFF Research Database (Denmark)

Gordon, Adam

There's no shortage of predictions available to organizations looking to anticipate and profit from future events or trends. Apparently helpful forecasts are ubiquitous in everyday communications such as newspapers and business magazines, and in specialized sources such as government and think......-tank forecasts, consultant reports, and stock-market guides. These resources are crucial, but they are also of very mixed quality. How can decision-makers know which predictions to take seriously, which to be wary of, and which to throw out entirely? Future Savvy provides analytical filters to judging predictive...... systematic "forecast filtering" to reveal strengths and weakness in the predictions they face. Future Savvy empowers both business and policy/government decision-makers to use forecasts wisely and so improve their judgment in anticipating opportunities, avoiding threats, and managing uncertainty....

Short-Term Wind Electric Power Forecasting Using a Novel Multi-Stage Intelligent Algorithm

Directory of Open Access Journals (Sweden)

Haoran Zhao

2018-03-01

Full Text Available As the most efficient renewable energy source for generating electricity in a modern electricity network, wind power has the potential to realize sustainable energy supply. However, owing to its random and intermittent instincts, a high permeability of wind power into a power network demands accurate and effective wind energy prediction models. This study proposes a multi-stage intelligent algorithm for wind electric power prediction, which combines the Beveridge–Nelson (B-N decomposition approach, the Least Square Support Vector Machine (LSSVM, and a newly proposed intelligent optimization approach called the Grasshopper Optimization Algorithm (GOA. For data preprocessing, the B-N decomposition approach was employed to disintegrate the hourly wind electric power data into a deterministic trend, a cyclic term, and a random component. Then, the LSSVM optimized by the GOA (denoted GOA-LSSVM was applied to forecast the future 168 h of the deterministic trend, the cyclic term, and the stochastic component, respectively. Finally, the future hourly wind electric power values can be obtained by multiplying the forecasted values of these three trends. Through comparing the forecasting performance of this proposed method with the LSSVM, the LSSVM optimized by the Fruit-fly Optimization Algorithm (FOA-LSSVM, and the LSSVM optimized by Particle Swarm Optimization (PSO-LSSVM, it is verified that the established multi-stage approach is superior to other models and can increase the precision of wind electric power prediction effectively.

Tension between SNeIa and BAO: current status and future forecasts

Energy Technology Data Exchange (ETDEWEB)

Escamilla-Rivera, Celia [Astrophysics, University of Oxford, DWD, Kebble Road, Oxford, OX1 3RH (United Kingdom); Lazkoz, Ruth; Salzano, Vincenzo; Sendra, Irene, E-mail: celia_escamilla@ehu.es, E-mail: ruth.lazkoz@ehu.es, E-mail: vincenzo.salzano@ehu.es, E-mail: irene.sendra@ehu.es [Fisika Teorikoaren eta Zientziaren Historia Saila, Zientzia eta Teknologia Fakultatea, Euskal Herriko Unibertsitatea, 644 Posta Kutxatila, 48080 Bilbao (Spain)

2011-09-01

Using real and synthetic Type Ia SNe (SNeIa) and baryon acoustic oscillations (BAO) data representing current observations forecasts, this paper investigates the tension between those probes in the dark energy equation of state (EoS) reconstruction considering the well known CPL model and Wang's low correlation reformulation. In particular, here we present simulations of BAO data from both the the radial and transverse directions. We also explore the influence of priors on Ω{sub m} and Ω{sub b} on the tension issue, by considering 1σ deviations in either one or both of them. Our results indicate that for some priors there is no tension between a single dataset (either SNeIa or BAO) and their combination (SNeIa+BAO). Our criterion to discern the existence of tension (σ-distance) is also useful to establish which is the dataset with most constraining power; in this respect SNeIa and BAO data switch roles when current and future data are considered, as forecasts predict and spectacular quality improvement on BAO data. We also find that the results on the tension are blind to the way the CPL model is addressed: there is a perfect match between the original formulation and that by the correlation optimized proposed in Wang (2008), but the errors on the parameters are much narrower in all cases of our exhaustive exploration, thus serving the purpose of stressing the convenience of this reparametrization.

Tension between SNeIa and BAO: current status and future forecasts

International Nuclear Information System (INIS)

Escamilla-Rivera, Celia; Lazkoz, Ruth; Salzano, Vincenzo; Sendra, Irene

2011-01-01

Using real and synthetic Type Ia SNe (SNeIa) and baryon acoustic oscillations (BAO) data representing current observations forecasts, this paper investigates the tension between those probes in the dark energy equation of state (EoS) reconstruction considering the well known CPL model and Wang's low correlation reformulation. In particular, here we present simulations of BAO data from both the the radial and transverse directions. We also explore the influence of priors on Ω m and Ω b on the tension issue, by considering 1σ deviations in either one or both of them. Our results indicate that for some priors there is no tension between a single dataset (either SNeIa or BAO) and their combination (SNeIa+BAO). Our criterion to discern the existence of tension (σ-distance) is also useful to establish which is the dataset with most constraining power; in this respect SNeIa and BAO data switch roles when current and future data are considered, as forecasts predict and spectacular quality improvement on BAO data. We also find that the results on the tension are blind to the way the CPL model is addressed: there is a perfect match between the original formulation and that by the correlation optimized proposed in Wang (2008), but the errors on the parameters are much narrower in all cases of our exhaustive exploration, thus serving the purpose of stressing the convenience of this reparametrization

Models of Investor Forecasting Behavior — Experimental Evidence

Directory of Open Access Journals (Sweden)

Federico Bonetto

2017-12-01

Full Text Available Different forecasting behaviors affect investors’ trading decisions and lead to qualitatively different asset price trajectories. It has been shown in the literature that the weights that investors place on observed asset price changes when forecasting future price changes, and the nature of their confidence when price changes are forecast, determine whether price bubbles, price crashes, and unpredictable price cycles occur. In this paper, we report the results of behavioral experiments involving multiple investors who participated in a market for a virtual asset. Our goal is to study investors’ forecast formation. We conducted three experimental sessions with different participants in each session. We fit different models of forecast formation to the observed data. There is strong evidence that the investors forecast future prices by extrapolating past price changes, even when they know the fundamental value of the asset exactly and the extrapolated forecasts differ significantly from the fundamental value. The rational expectations hypothesis seems inconsistent with the observed forecasts. The forecasting models of all participants that best fit the observed forecasting data were of the type that cause price bubbles and cycles in dynamical systems models, and price bubbles and cycles ended up occurring in all three sessions.

Fashion Forward: Forecasting Visual Style in Fashion

OpenAIRE

Al-Halah, Ziad; Stiefelhagen, Rainer; Grauman, Kristen

2017-01-01

What is the future of fashion? Tackling this question from a data-driven vision perspective, we propose to forecast visual style trends before they occur. We introduce the first approach to predict the future popularity of styles discovered from fashion images in an unsupervised manner. Using these styles as a basis, we train a forecasting model to represent their trends over time. The resulting model can hypothesize new mixtures of styles that will become popular in the future, discover styl...

Forecasts: uncertain, inaccurate and biased?

DEFF Research Database (Denmark)

Nicolaisen, Morten Skou; Ambrasaite, Inga; Salling, Kim Bang

2012-01-01

Cost Benefit Analysis (CBA) is the dominating methodology for appraisal of transport infrastructure projects across the globe. In order to adequately assess the costs and benefits of such projects two types of forecasts are crucial to the validity of the appraisal. First are the forecasts of cons....... It is recommended that more attention is given to monitoring completed projects so future forecasts can benefit from better data availability through systematic ex-post evaluations, and an example of how to utilize such data in practice is presented.......Cost Benefit Analysis (CBA) is the dominating methodology for appraisal of transport infrastructure projects across the globe. In order to adequately assess the costs and benefits of such projects two types of forecasts are crucial to the validity of the appraisal. First are the forecasts...... of construction costs, which account for the majority of total project costs. Second are the forecasts of travel time savings, which account for the majority of total project benefits. The latter of these is, inter alia, determined by forecasts of travel demand, which we shall use as a proxy for the forecasting...

Forecasting potential crises

International Nuclear Information System (INIS)

Neufeld, W.P.

1984-01-01

Recently, the Trend Analysis Program (TAP) of the American Council of Life Insurance commissioned the Futures Group of Glastonbury, Connecticut, to examine the potential for large-scale catastrophic events in the near future. TAP was specifically concerned with five potential crises: the warming of the earth's atmosphere, the water shortage, the collapse of the physical infrastructure, the global financial crisis, and the threat of nuclear war. We are often unprepared to take action; in these cases, we lose an advantage we might have otherwise had. This is the whole idea behind forecasting: to foresee possibilities and to project how we can respond. If we are able to create forecasts against which we can test policy options and choices, we may have the luxury of adopting policies ahead of events. Rather than simply fighting fires, we have the option of creating a future more to our choosing. Short descriptions of these five potential crises and, in some cases, possible solutions are presented

The role of forecasts in monetary policy

OpenAIRE

Jeffery D. Amato; Thomas Laubach

2000-01-01

Forecasts of future economic developments play an important role for the monetary policy decisions of central banks. For example, forecasts of goal variables can help central banks achieve their goals and make them more accountable to the public. There are two primary explanations for the benefits of forecasts. The first is that monetary policy affects goal variables such as inflation and output only with substantial lags. Policy actions should, therefore, be based on forecasts of goal variab...

7 CFR 1710.206 - Approval requirements for load forecasts prepared pursuant to approved load forecast work plans.

Science.gov (United States)

2010-01-01

... financial ratings, and participation in reliability council, power pool, regional transmission group, power... analysis and modeling of the borrower's electric system loads as provided for in the load forecast work plan. (5) A narrative discussing the borrower's past, existing, and forecast of future electric system...

Realization of Interdisciplinary Communications of Fundamental Disciplines and Disciplines of Mathematical Cycle in the Preparation of Future Programmers

Directory of Open Access Journals (Sweden)

Miсhaеl Lvov

2016-02-01

Full Text Available The article is devoted to interdisciplinary communication in the process of preparation of the future programmers and implementation of the basic principles of these relations in the study of disciplines of professional and practical training and math courses. The article deals with the role of interdisciplinary connections, as well as their function and significance for the formation of cognitive activity, independence and positive learning motivation. The focus is on methodological aspects of realization of interdisciplinary communications at studying basic disciplines of training future programmers and disciplines of mathematical cycle. In particular, the issues of realization of interdisciplinary communications during the study such disciplines as "Computer graphics, computational geometry," "Basics of algorithms and programming", "Programming Technologies" and the course "Analytical geometry and linear algebra", which included in to normative part of the training of programmers. This article describes the theoretical aspects of the implementation of interdisciplinary connections in the study of these disciplines, as well as examples of practical tasks with which these relationships can be implemented most effectively during training

Probabilistic energy forecasting: Global Energy Forecasting Competition 2014 and beyond

DEFF Research Database (Denmark)

Hong, Tao; Pinson, Pierre; Fan, Shu

2016-01-01

The energy industry has been going through a significant modernization process over the last decade. Its infrastructure is being upgraded rapidly. The supply, demand and prices are becoming more volatile and less predictable than ever before. Even its business model is being challenged fundamenta......The energy industry has been going through a significant modernization process over the last decade. Its infrastructure is being upgraded rapidly. The supply, demand and prices are becoming more volatile and less predictable than ever before. Even its business model is being challenged...... fundamentally. In this competitive and dynamic environment, many decision-making processes rely on probabilistic forecasts to quantify the uncertain future. Although most of the papers in the energy forecasting literature focus on point or singlevalued forecasts, the research interest in probabilistic energy...

Satellites, tweets, forecasts: the future of flood disaster management?

Science.gov (United States)

Dottori, Francesco; Kalas, Milan; Lorini, Valerio; Wania, Annett; Pappenberger, Florian; Salamon, Peter; Ramos, Maria Helena; Cloke, Hannah; Castillo, Carlos

2017-04-01

Floods have devastating effects on lives and livelihoods around the world. Structural flood defence measures such as dikes and dams can help protect people. However, it is the emerging science and technologies for flood disaster management and preparedness, such as increasingly accurate flood forecasting systems, high-resolution satellite monitoring, rapid risk mapping, and the unique strength of social media information and crowdsourcing, that are most promising for reducing the impacts of flooding. Here, we describe an innovative framework which integrates in real-time two components of the Copernicus Emergency mapping services, namely the European Flood Awareness System and the satellite-based Rapid Mapping, with new procedures for rapid risk assessment and social media and news monitoring. The integrated framework enables improved flood impact forecast, thanks to the real-time integration of forecasting and monitoring components, and increases the timeliness and efficiency of satellite mapping, with the aim of capturing flood peaks and following the evolution of flooding processes. Thanks to the proposed framework, emergency responders will have access to a broad range of timely and accurate information for more effective and robust planning, decision-making, and resource allocation.

MEDIA ENVIRONMENT AS FACTOR OF REALIZATION OF CREATIVE POTENTIAL OF FUTURE TEACHERS` IN THE MOUNTAIN SCHOOLS OF THE UKRAINIAN CARPATHIANS

Directory of Open Access Journals (Sweden)

Alla Lebedieva

2015-04-01

Full Text Available The article shows up “media environment” as a factor of future teachers` creative potential realization in the mountainous schools of the Ukrainian Carpathians. The problem of using media environment as a factor of future teachers` creative potential in the mountainous schools of the Ukrainian Carpathians and the ways of its optimization is the main point of this research. Highlights ways to modernize social and professional orientation training of students in the creative process of nature is situates in information education and educational environment of high school. We consider the causal link use media environment as a factor of future teachers` creative potential and complexity of the teacher in the mountainous schools of the Ukrainian Carpathians. The basic function of the media environment are extensity, instrumental, communicative, interactive, multimedia. Reveals some aspects of training students to creatively active teaching process we describe subjects with objective possibilities in the formation of professional skills of future teachers` and which directly affect the realization of creative potential – “Ukrainian folk art”, “Basic recitation and rhetoric”, “The basis of pedagogical creativity”. The necessity of creating a full-fledged media environment in higher education is important condition of successful education as an important factor that allows the efficiency of the creative potential of future teachers` in the mountainous schools of the Ukrainian Carpathians.

Ensemble forecasting of species distributions.

Science.gov (United States)

Araújo, Miguel B; New, Mark

2007-01-01

Concern over implications of climate change for biodiversity has led to the use of bioclimatic models to forecast the range shifts of species under future climate-change scenarios. Recent studies have demonstrated that projections by alternative models can be so variable as to compromise their usefulness for guiding policy decisions. Here, we advocate the use of multiple models within an ensemble forecasting framework and describe alternative approaches to the analysis of bioclimatic ensembles, including bounding box, consensus and probabilistic techniques. We argue that, although improved accuracy can be delivered through the traditional tasks of trying to build better models with improved data, more robust forecasts can also be achieved if ensemble forecasts are produced and analysed appropriately.

Intelligible seminar on fusion reactors. (12) Next step toward the realization of fusion reactors. Future vision of fusion energy research and development

International Nuclear Information System (INIS)

Okano, Kunihiko; Kurihara, Kenichi; Tobita, Kenji

2006-01-01

In the last session of this seminar the progress of research and development for the realization of fusion reactors and future vision of fusion energy research and development are summarized. The some problems to be solved when the commercial fusion reactors would be realized, (1) production of deuterium as the fuel, (2) why need the thermonuclear reactors, (3) environmental problems, and (4) ITER project, are described. (H. Mase)

Adaptive Weather Forecasting using Local Meteorological Information

NARCIS (Netherlands)

Doeswijk, T.G.; Keesman, K.J.

2005-01-01

In general, meteorological parameters such as temperature, rain and global radiation are important for agricultural systems. Anticipating on future conditions is most often needed in these systems. Weather forecasts then become of substantial importance. As weather forecasts are subject to

Draft Forecasts from Real-Time Runs of Physics-Based Models - A Road to the Future

Science.gov (United States)

Hesse, Michael; Rastatter, Lutz; MacNeice, Peter; Kuznetsova, Masha

2008-01-01

The Community Coordinated Modeling Center (CCMC) is a US inter-agency activity aiming at research in support of the generation of advanced space weather models. As one of its main functions, the CCMC provides to researchers the use of space science models, even if they are not model owners themselves. The second focus of CCMC activities is on validation and verification of space weather models, and on the transition of appropriate models to space weather forecast centers. As part of the latter activity, the CCMC develops real-time simulation systems that stress models through routine execution. A by-product of these real-time calculations is the ability to derive model products, which may be useful for space weather operators. After consultations with NOAA/SEC and with AFWA, CCMC has developed a set of tools as a first step to make real-time model output useful to forecast centers. In this presentation, we will discuss the motivation for this activity, the actions taken so far, and options for future tools from model output.

MACROECONOMIC FORECASTING USING BAYESIAN VECTOR AUTOREGRESSIVE APPROACH

Directory of Open Access Journals (Sweden)

D. Tutberidze

2017-04-01

Full Text Available There are many arguments that can be advanced to support the forecasting activities of business entities. The underlying argument in favor of forecasting is that managerial decisions are significantly dependent on proper evaluation of future trends as market conditions are constantly changing and require a detailed analysis of future dynamics. The article discusses the importance of using reasonable macro-econometric tool by suggesting the idea of conditional forecasting through a Vector Autoregressive (VAR modeling framework. Under this framework, a macroeconomic model for Georgian economy is constructed with the few variables believed to be shaping business environment. Based on the model, forecasts of macroeconomic variables are produced, and three types of scenarios are analyzed - a baseline and two alternative ones. The results of the study provide confirmatory evidence that suggested methodology is adequately addressing the research phenomenon and can be used widely by business entities in responding their strategic and operational planning challenges. Given this set-up, it is shown empirically that Bayesian Vector Autoregressive approach provides reasonable forecasts for the variables of interest.

Modelos de previsão de preços aplicados aos contratos futuros de boi gordo na BM&F Models of price forecasting applied to futures contracts of live cattle at the Brazilian Futures Market - BM&F

Directory of Open Access Journals (Sweden)

Aureliano Angel Bressan

2002-01-01

Full Text Available This paper studies the applicability of time series models as a decision tool of buy and sell orders of live cattle futures contracts in the Brazilian Futures Market (BM&F, on dates close to expiration. The models considered are: ARIMA, Neural Networks and Dynamic Linear Models - DLM (this in the classic and bayesian approach. Weekly data, of the spot and futures markets, from 1996 to 1999, are used to calculate the forecasts. The main purpose is to calculate the returns, in buy/sell orders of live cattle futures between 1998 and 1999, in order to show the potentials or limitations of each model. The results show positive returns in almost all contracts analyzed, indicating the potential of the models as a decision tool in operating with futures contracts close to expiration date, with distinction on the performance of the Classic DLM and ARIMA models, although some differences in forecasting accuracy.

An Electrical Energy Consumption Monitoring and Forecasting System

Directory of Open Access Journals (Sweden)

J. L. Rojas-Renteria

2016-10-01

Full Text Available Electricity consumption is currently an issue of great interest for power companies that need an as much as accurate profile for controlling the installed systems but also for designing future expansions and alterations. Detailed monitoring has proved to be valuable for both power companies and consumers. Further, as smart grid technology is bound to result to increasingly flexible rates, an accurate forecast is bound to prove valuable in the future. In this paper, a monitoring and forecasting system is investigated. The monitoring system was installed in an actual building and the recordings were used to design and evaluate the forecasting system, based on an artificial neural network. Results show that the system can provide detailed monitoring and also an accurate forecast for a building’s consumption.

Harmful algal blooms and climate change: Learning from the past and present to forecast the future

CSIR Research Space (South Africa)

Wells, ML

2015-11-01

Full Text Available Harmful algal blooms and climate change: Learning from the past and present to forecast the future Mark L. Wellsa,*, Vera L. Trainerb, Theodore J. Smaydac, Bengt S.O. Karlsond, Charles G. Tricke, Raphael M. Kudelaf, Akira Ishikawag, Stewart Bernardh... and Atmospheric Administration, 2725 Montlake Blvd. E., Seattle, WA 98112, USA c Graduate School of Oceanography, University of Rhode Island, Kingston, RI 02881, USA d SMHI Research & Development, Oceanography, Sven Ka¨llfelts gata 15, 426 71 Va¨stra Fro...

Device for forecasting reactor power-up routes

International Nuclear Information System (INIS)

Fukuzaki, Takaharu.

1980-01-01

Purpose: To improve the reliability and forecasting accuracy for a device forecasting the change of the state on line in BWR type reactors. Constitution: The present state in a nuclear reactor is estimated in a present state judging section based on measuring signals for thermal power, core flow rate, control rod density and the like from the nuclear reactor, and the estimated results are accumulated in an operation result collecting section. While on the other hand, a forecasting section forecasts the future state in the reactor based on the signals from the forecasting condition setting section. The actual result values from the collecting section and the forecasting results are compared to each other. If they are not equal, new setting signals are outputted from the setting section to perform the forecasting again. These procedures are repeated till the difference between the forecast results and the actual result values is minimized, by which accurate forecasting for the state of the reactor is made possible. (Furukawa, Y.)

Management Earnings Forecasts as a Performance Target in Executive Compensation Contracts

OpenAIRE

Shota Otomasa; Atsushi Shiiba; Akinobu Shuto

2015-01-01

This paper investigates whether and how Japanese firms use management earnings forecasts as a performance target for determining executive cash compensation. Consistent with the implications of the principal-agent theory, we find that the sensitivity of executive cash compensation varies with the extent to which realized earnings exceed initial management forecasts. In particular, we find that, for a sample of Japanese firms comprising 14,899 firm-year observations from 2005 to 2012, the exec...

Do inflation-linked bonds contain information about future inflation?

Directory of Open Access Journals (Sweden)

José Valentim Machado Vicente

2013-06-01

Full Text Available There is a widespread belief that inflation-linked bonds are a direct source of information about inflation expectations. In this paper we address this issue by analyzing the relationship between break-even inflation (the difference between nominal and real yields and future inflation. The dataset is extracted from Brazilian Treasury bonds covering the period from April 2005 to April 2011. We find that break-even inflation is an unbiased forecast only of the 3-month and 6-month ahead inflation. For medium horizons (12 and 18 months, break-even inflation has weak explanatory power of future inflation. Over long horizons (24 and 30 months, we report a significant, but counterintuitive, negative relationship between the break-even and realized inflation rates.

The Latest Forecast.

Science.gov (United States)

Laurence, David

2002-01-01

Discusses the "latest forecast" for the future of English departments. Addresses departmental and institutional staffing practices, employment opportunities for PhDs, the acceleration of change in the institution, and the general state of the study and teaching of English. (RS)

Satellite based Ocean Forecasting, the SOFT project

Science.gov (United States)

Stemmann, L.; Tintoré, J.; Moneris, S.

2003-04-01

The knowledge of future oceanic conditions would have enormous impact on human marine related areas. For such reasons, a number of international efforts are being carried out to obtain reliable and manageable ocean forecasting systems. Among the possible techniques that can be used to estimate the near future states of the ocean, an ocean forecasting system based on satellite imagery is developped through the Satelitte based Ocean ForecasTing project (SOFT). SOFT, established by the European Commission, considers the development of a forecasting system of the ocean space-time variability based on satellite data by using Artificial Intelligence techniques. This system will be merged with numerical simulation approaches, via assimilation techniques, to get a hybrid SOFT-numerical forecasting system of improved performance. The results of the project will provide efficient forecasting of sea-surface temperature structures, currents, dynamic height, and biological activity associated to chlorophyll fields. All these quantities could give valuable information on the planning and management of human activities in marine environments such as navigation, fisheries, pollution control, or coastal management. A detailed identification of present or new needs and potential end-users concerned by such an operational tool is being performed. The project would study solutions adapted to these specific needs.

Four wind speed multi-step forecasting models using extreme learning machines and signal decomposing algorithms

International Nuclear Information System (INIS)

Liu, Hui; Tian, Hong-qi; Li, Yan-fei

2015-01-01

Highlights: • A hybrid architecture is proposed for the wind speed forecasting. • Four algorithms are used for the wind speed multi-scale decomposition. • The extreme learning machines are employed for the wind speed forecasting. • All the proposed hybrid models can generate the accurate results. - Abstract: Realization of accurate wind speed forecasting is important to guarantee the safety of wind power utilization. In this paper, a new hybrid forecasting architecture is proposed to realize the wind speed accurate forecasting. In this architecture, four different hybrid models are presented by combining four signal decomposing algorithms (e.g., Wavelet Decomposition/Wavelet Packet Decomposition/Empirical Mode Decomposition/Fast Ensemble Empirical Mode Decomposition) and Extreme Learning Machines. The originality of the study is to investigate the promoted percentages of the Extreme Learning Machines by those mainstream signal decomposing algorithms in the multiple step wind speed forecasting. The results of two forecasting experiments indicate that: (1) the method of Extreme Learning Machines is suitable for the wind speed forecasting; (2) by utilizing the decomposing algorithms, all the proposed hybrid algorithms have better performance than the single Extreme Learning Machines; (3) in the comparisons of the decomposing algorithms in the proposed hybrid architecture, the Fast Ensemble Empirical Mode Decomposition has the best performance in the three-step forecasting results while the Wavelet Packet Decomposition has the best performance in the one and two step forecasting results. At the same time, the Wavelet Packet Decomposition and the Fast Ensemble Empirical Mode Decomposition are better than the Wavelet Decomposition and the Empirical Mode Decomposition in all the step predictions, respectively; and (4) the proposed algorithms are effective in the wind speed accurate predictions

Concerning the justiciability of demand forecasts

International Nuclear Information System (INIS)

Nierhaus, M.

1977-01-01

This subject plays at present in particular a role in the course of judicial examinations of immediately enforceable orders for the partial construction licences of nuclear power plants. The author distinguishes beween three kinds of forecast decisions: 1. Appraising forecast decisions with standards of judgment taken mainly from the fields of the art, culture, morality, religion are, according to the author, only legally verifyable to a limited extent. 2. With regard to forecast decisions not arguable, e.g. where the future behaviour of persons is concerned, the same should be applied basically. 3. In contrast to this, the following is applicable for programmatic, proceedingslike, or creative forecast decisions, in particular in economics: 'An administrative estimation privilege in a prognostic sense with the consequence that the court has to accept the forecast decision which lies within the forecast margins and which cannot be disproved, and that the court may not replace this forecast decision by its own probability judgment. In these cases, administration has the right to create its own forecast standards.' Judicial control in these cases was limited to certain substantive and procedural mistakes made by the administration in the course of forecast decision finding. (orig./HP) [de

Concerning the justiciability of demand forecasts

Energy Technology Data Exchange (ETDEWEB)

Nierhaus, M [Koeln Univ. (Germany, F.R.)

1977-01-01

This subject plays at present in particular a role in the course of judicial examinations of immediately enforceable orders for the partial construction licences of nuclear power plants. The author distinguishes beween three kinds of forecast decisions: 1. Appraising forecast decisions with standards of judgment taken mainly from the fields of the art, culture, morality, religion are, according to the author, only legally verifyable to a limited extent. 2. With regard to forecast decisions not arguable, e.g. where the future behaviour of persons is concerned, the same should be applied basically. 3. In contrast to this, the following is applicable for programmatic, proceedingslike, or creative forecast decisions, in particular in economics: 'An administrative estimation privilege in a prognostic sense with the consequence that the court has to accept the forecast decision which lies within the forecast margins and which cannot be disproved, and that the court may not replace this forecast decision by its own probability judgment. In these cases, administration has the right to create its own forecast standards.' Judicial control in these cases was limited to certain substantive and procedural mistakes made by the administration in the course of forecast decision finding.

Forecasting military expenditure

Directory of Open Access Journals (Sweden)

Tobias Böhmelt

2014-05-01

Full Text Available To what extent do frequently cited determinants of military spending allow us to predict and forecast future levels of expenditure? The authors draw on the data and specifications of a recent model on military expenditure and assess the predictive power of its variables using in-sample predictions, out-of-sample forecasts and Bayesian model averaging. To this end, this paper provides guidelines for prediction exercises in general using these three techniques. More substantially, however, the findings emphasize that previous levels of military spending as well as a country’s institutional and economic characteristics particularly improve our ability to predict future levels of investment in the military. Variables pertaining to the international security environment also matter, but seem less important. In addition, the results highlight that the updated model, which drops weak predictors, is not only more parsimonious, but also slightly more accurate than the original specification.

Scenarios for energy forecasting: papers of the symposium

International Nuclear Information System (INIS)

1987-01-01

Energy planning is important for every developed country and therefore also for South Africa. However, during 1984 it was felt by interested parties that the work in this field should be coordinated through mutual discussion. With this in mind a 'Task Team for Energy Forecasting' was formed with the task to generate acceptable forecasts of the energy set-up in South Africa. Knowledge of the relationship between energy and variables such as the economy and the population is necessary to the Task Team. However, the Task Team also needs some insight into the future paths of such variables if it has to generate energy forecasts. It is the purpose of this symposium to improve this insight through having experts in all relevant fields to set out and develop their possible future scenarios independently of energy forecasting

A review of forecasting models for new products

Directory of Open Access Journals (Sweden)

Marta Mas-Machuca

2014-02-01

Full Text Available Purpose. The main objective of this article is to present an up-to-date review of new product forecasting techniques. Design/methodology/approach: A systematic review of forecasting journals was carried out using the ISI-Web of Knowledge database. Several articles were retrieved and examined, and forecasting techniques relevant to this study were selected and assessed. Findings: The strengths, weaknesses and applications of the main forecasting models are discussed to examine trends and set future challenges. Research limitations/implications: A theoretical reference framework for forecasting techniques classified into judgmental, consumer/market research, cause-effect and artificial intelligence is proposed. Future research can assess these models qualitatively. Practical implications: Companies are currently motivated to launch new products and thus attract new customers to expand their market share.  In order to reduce uncertainty and risk, many companies go to extra lengths to forecast sales accurately using several techniques. Originality/value: This article outlines new lines of research on the improvement of new product performance which will aid managers in decision making and allow companies to sustain their competitive advantages in this challenging world.

Too Many, Too Few, or Just Right? Making Sense Of Conflicting RN Supply and Demand Forecasts.

Science.gov (United States)

Spetz, Joanne

2015-01-01

Forecasts of future supply and demand of health professionals are tools to guide policy, not a final statement about how the world will be in the future. Recent forecasts of RN supply and demand vary widely and are incredibly confusing for nurse leaders, nurse educators, and policymakers. To effectively incorporate forecasts into policy and planning, one must understand the structure of the forecasts and underlying assumptions. One should treat all forecasts cautiously, and use them as guides to policy rather than definitive future outcomes.

Adaptively smoothed seismicity earthquake forecasts for Italy

Directory of Open Access Journals (Sweden)

Yan Y. Kagan

2010-11-01

Full Text Available We present a model for estimation of the probabilities of future earthquakes of magnitudes m ≥ 4.95 in Italy. This model is a modified version of that proposed for California, USA, by Helmstetter et al. [2007] and Werner et al. [2010a], and it approximates seismicity using a spatially heterogeneous, temporally homogeneous Poisson point process. The temporal, spatial and magnitude dimensions are entirely decoupled. Magnitudes are independently and identically distributed according to a tapered Gutenberg-Richter magnitude distribution. We have estimated the spatial distribution of future seismicity by smoothing the locations of past earthquakes listed in two Italian catalogs: a short instrumental catalog, and a longer instrumental and historic catalog. The bandwidth of the adaptive spatial kernel is estimated by optimizing the predictive power of the kernel estimate of the spatial earthquake density in retrospective forecasts. When available and reliable, we used small earthquakes of m ≥ 2.95 to reveal active fault structures and 29 probable future epicenters. By calibrating the model with these two catalogs of different durations to create two forecasts, we intend to quantify the loss (or gain of predictability incurred when only a short, but recent, data record is available. Both forecasts were scaled to five and ten years, and have been submitted to the Italian prospective forecasting experiment of the global Collaboratory for the Study of Earthquake Predictability (CSEP. An earlier forecast from the model was submitted by Helmstetter et al. [2007] to the Regional Earthquake Likelihood Model (RELM experiment in California, and with more than half of the five-year experimental period over, the forecast has performed better than the others.

A simple approach to measure transmissibility and forecast incidence.

Science.gov (United States)

Nouvellet, Pierre; Cori, Anne; Garske, Tini; Blake, Isobel M; Dorigatti, Ilaria; Hinsley, Wes; Jombart, Thibaut; Mills, Harriet L; Nedjati-Gilani, Gemma; Van Kerkhove, Maria D; Fraser, Christophe; Donnelly, Christl A; Ferguson, Neil M; Riley, Steven

2018-03-01

Outbreaks of novel pathogens such as SARS, pandemic influenza and Ebola require substantial investments in reactive interventions, with consequent implementation plans sometimes revised on a weekly basis. Therefore, short-term forecasts of incidence are often of high priority. In light of the recent Ebola epidemic in West Africa, a forecasting exercise was convened by a network of infectious disease modellers. The challenge was to forecast unseen "future" simulated data for four different scenarios at five different time points. In a similar method to that used during the recent Ebola epidemic, we estimated current levels of transmissibility, over variable time-windows chosen in an ad hoc way. Current estimated transmissibility was then used to forecast near-future incidence. We performed well within the challenge and often produced accurate forecasts. A retrospective analysis showed that our subjective method for deciding on the window of time with which to estimate transmissibility often resulted in the optimal choice. However, when near-future trends deviated substantially from exponential patterns, the accuracy of our forecasts was reduced. This exercise highlights the urgent need for infectious disease modellers to develop more robust descriptions of processes - other than the widespread depletion of susceptible individuals - that produce non-exponential patterns of incidence. Copyright © 2017 The Authors. Published by Elsevier B.V. All rights reserved.

Demand Forecasting Methods in Accommodation Establishments: A Research with Artificial Neural Networks

Directory of Open Access Journals (Sweden)

Ebru ULUCAN

2018-05-01

Full Text Available As it being seen in every sector, demand forecasting in tourism is been conducted with various qualitative and quantitative methods. In recent years, artificial neural network models, which have been developed as an alternative to these forecasting methods, give the nearest values in forecasting with the smallest failure percentage. This study aims to reveal that accomodation establishments can use the neural network models as an alternative while forecasting their demand. With this aim, neural network models have been tested by using the sold room values between the period of 2013-2016 of a five star hotel in Istanbul and it is found that the results acquired from the testing models are the nearest values comparing the realized figures. In the light of these results, tourism demand of the hotel for 2017 and 2018 has been forecasted.

Online forecasting of electrical load for distributed management of plug-in electric vehicles

OpenAIRE

Basu , Kaustav; Ovalle , Andres; Guo , Baoling; Hably , Ahmad; Bacha , Seddik; Hajar , Khaled

2016-01-01

International audience; The paper aims at making online forecast of electrical load at the MV-LV transformer level. Optimal management of the Plug-in Electric Vehicles (PEV) charging requires the forecast of the electrical load for future hours. The forecasting module needs to be online (i.e update and make forecast for the future hours, every hour). The inputs to the predictor are historical electrical and weather data. Various data driven machine learning algorithms are compared to derive t...

Evaluating long term forecasts

Energy Technology Data Exchange (ETDEWEB)

Lady, George M. [Department of Economics, College of Liberal Arts, Temple University, Philadelphia, PA 19122 (United States)

2010-03-15

The U.S. Department of Energy's Energy Information Administration (EIA), and its predecessor organizations, has published projections of U.S. energy production, consumption, distribution and prices annually for over 30 years. A natural issue to raise in evaluating the projections is an assessment of their accuracy compared to eventual outcomes. A related issue is the determination of the sources of 'error' in the projections that are due to differences between the actual versus realized values of the associated assumptions. One way to do this would be to run the computer-based model from which the projections are derived at the time the projected values are realized, using actual rather than assumed values for model assumptions; and, compare these results to the original projections. For long term forecasts, this approach would require that the model's software and hardware configuration be archived and available for many years, possibly decades, into the future. Such archival creates many practical problems; and, in general, it is not being done. This paper reports on an alternative approach for evaluating the projections. In the alternative approach, the model is run many times for cases in which important assumptions are changed individually and in combinations. A database is assembled from the solutions and a regression analysis is conducted for each important projected variable with the associated assumptions chosen as exogenous variables. When actual data are eventually available, the regression results are then used to estimate the sources of the differences in the projections of the endogenous variables compared to their eventual outcomes. The results presented here are for residential and commercial sector natural gas and electricity consumption. (author)

The Art and Science of Long-Range Space Weather Forecasting

Science.gov (United States)

Hathaway, David H.; Wilson, Robert M.

2006-01-01

Long-range space weather forecasts are akin to seasonal forecasts of terrestrial weather. We don t expect to forecast individual events but we do hope to forecast the underlying level of activity important for satellite operations and mission pl&g. Forecasting space weather conditions years or decades into the future has traditionally been based on empirical models of the solar cycle. Models for the shape of the cycle as a function of its amplitude become reliable once the amplitude is well determined - usually two to three years after minimum. Forecasting the amplitude of a cycle well before that time has been more of an art than a science - usually based on cycle statistics and trends. Recent developments in dynamo theory -the theory explaining the generation of the Sun s magnetic field and the solar activity cycle - have now produced models with predictive capabilities. Testing these models with historical sunspot cycle data indicates that these predictions may be highly reliable one, or even two, cycles into the future.

Forecasting the future risk of Barmah Forest virus disease under climate change scenarios in Queensland, Australia.

Science.gov (United States)

Naish, Suchithra; Mengersen, Kerrie; Hu, Wenbiao; Tong, Shilu

2013-01-01

Mosquito-borne diseases are climate sensitive and there has been increasing concern over the impact of climate change on future disease risk. This paper projected the potential future risk of Barmah Forest virus (BFV) disease under climate change scenarios in Queensland, Australia. We obtained data on notified BFV cases, climate (maximum and minimum temperature and rainfall), socio-economic and tidal conditions for current period 2000-2008 for coastal regions in Queensland. Grid-data on future climate projections for 2025, 2050 and 2100 were also obtained. Logistic regression models were built to forecast the otential risk of BFV disease distribution under existing climatic, socio-economic and tidal conditions. The model was applied to estimate the potential geographic distribution of BFV outbreaks under climate change scenarios. The predictive model had good model accuracy, sensitivity and specificity. Maps on potential risk of future BFV disease indicated that disease would vary significantly across coastal regions in Queensland by 2100 due to marked differences in future rainfall and temperature projections. We conclude that the results of this study demonstrate that the future risk of BFV disease would vary across coastal regions in Queensland. These results may be helpful for public health decision making towards developing effective risk management strategies for BFV disease control and prevention programs in Queensland.

Nambe Pueblo Water Budget and Forecasting model.

Energy Technology Data Exchange (ETDEWEB)

Brainard, James Robert

2009-10-01

This report documents The Nambe Pueblo Water Budget and Water Forecasting model. The model has been constructed using Powersim Studio (PS), a software package designed to investigate complex systems where flows and accumulations are central to the system. Here PS has been used as a platform for modeling various aspects of Nambe Pueblo's current and future water use. The model contains three major components, the Water Forecast Component, Irrigation Scheduling Component, and the Reservoir Model Component. In each of the components, the user can change variables to investigate the impacts of water management scenarios on future water use. The Water Forecast Component includes forecasting for industrial, commercial, and livestock use. Domestic demand is also forecasted based on user specified current population, population growth rates, and per capita water consumption. Irrigation efficiencies are quantified in the Irrigated Agriculture component using critical information concerning diversion rates, acreages, ditch dimensions and seepage rates. Results from this section are used in the Water Demand Forecast, Irrigation Scheduling, and the Reservoir Model components. The Reservoir Component contains two sections, (1) Storage and Inflow Accumulations by Categories and (2) Release, Diversion and Shortages. Results from both sections are derived from the calibrated Nambe Reservoir model where historic, pre-dam or above dam USGS stream flow data is fed into the model and releases are calculated.

Hanford's self-assessment of the solid waste forecast process

International Nuclear Information System (INIS)

Hauth, J.; Skumanich, M.; Morgan, J.

1996-01-01

In fiscal year (FY) 1995 the forecast process used at Hanford to project future solid waste volumes was evaluated. Data on current and future solid waste generation are used by Hanford site planners to determine near-term and long-term planning needs. Generators who plan to ship their waste to Hanford's Solid Waste Program for treatment, storage, and disposal provide volume information on the types of waste that could be potentially generated, waste characteristics, and container types. Generators also provide limited radionuclide data and supporting assumptions. A self-assessment of the forecast process identified many effective working elements, including a well-established and systematic process for data collection, analysis and reporting; sufficient resources to obtain the necessary information; and dedicated support and analytic staff. Several areas for improvement were identified, including the need to improve confidence in the forecast data, integrate forecast data with other site-level and national data calls, enhance the electronic data collection system, and streamline the forecast process

Research on forecast technology of mine gas emission based on fuzzy data mining (FDM)

Energy Technology Data Exchange (ETDEWEB)

Xu Chang-kai; Wang Yao-cai; Wang Jun-wei [CUMT, Xuzhou (China). School of Information and Electrical Engineering

2004-07-01

The safe production of coalmine can be further improved by forecasting the quantity of gas emission based on the real-time data and historical data which the gas monitoring system has saved. By making use of the advantages of data warehouse and data mining technology for processing large quantity of redundancy data, the method and its application of forecasting mine gas emission quantity based on FDM were studied. The constructing fuzzy resembling relation and clustering analysis were proposed, which the potential relationship inside the gas emission data may be found. The mode finds model and forecast model were presented, and the detailed approach to realize this forecast was also proposed, which have been applied to forecast the gas emission quantity efficiently.

Measuring and Forecasting Financial Market Volatility using High-Frequency Data

NARCIS (Netherlands)

K. Bannouh (Karim)

2013-01-01

textabstractThis dissertation consists of three studies on the use of intraday asset price data for accurate measurement and forecasting of financial market volatility. Chapter 2 proposes a refined heuristic bias-correction for the two time scales realized range-based volatility estimator in the

Wind-Farm Forecasting Using the HARMONIE Weather Forecast Model and Bayes Model Averaging for Bias Removal.

Science.gov (United States)

O'Brien, Enda; McKinstry, Alastair; Ralph, Adam

2015-04-01

Building on previous work presented at EGU 2013 (http://www.sciencedirect.com/science/article/pii/S1876610213016068 ), more results are available now from a different wind-farm in complex terrain in southwest Ireland. The basic approach is to interpolate wind-speed forecasts from an operational weather forecast model (i.e., HARMONIE in the case of Ireland) to the precise location of each wind-turbine, and then use Bayes Model Averaging (BMA; with statistical information collected from a prior training-period of e.g., 25 days) to remove systematic biases. Bias-corrected wind-speed forecasts (and associated power-generation forecasts) are then provided twice daily (at 5am and 5pm) out to 30 hours, with each forecast validation fed back to BMA for future learning. 30-hr forecasts from the operational Met Éireann HARMONIE model at 2.5km resolution have been validated against turbine SCADA observations since Jan. 2014. An extra high-resolution (0.5km grid-spacing) HARMONIE configuration has been run since Nov. 2014 as an extra member of the forecast "ensemble". A new version of HARMONIE with extra filters designed to stabilize high-resolution configurations has been run since Jan. 2015. Measures of forecast skill and forecast errors will be provided, and the contributions made by the various physical and computational enhancements to HARMONIE will be quantified.

Aviation Turbulence: Dynamics, Forecasting, and Response to Climate Change

Science.gov (United States)

Storer, Luke N.; Williams, Paul D.; Gill, Philip G.

2018-03-01

Atmospheric turbulence is a major hazard in the aviation industry and can cause injuries to passengers and crew. Understanding the physical and dynamical generation mechanisms of turbulence aids with the development of new forecasting algorithms and, therefore, reduces the impact that it has on the aviation industry. The scope of this paper is to review the dynamics of aviation turbulence, its response to climate change, and current forecasting methods at the cruising altitude of aircraft. Aviation-affecting turbulence comes from three main sources: vertical wind shear instabilities, convection, and mountain waves. Understanding these features helps researchers to develop better turbulence diagnostics. Recent research suggests that turbulence will increase in frequency and strength with climate change, and therefore, turbulence forecasting may become more important in the future. The current methods of forecasting are unable to predict every turbulence event, and research is ongoing to find the best solution to this problem by combining turbulence predictors and using ensemble forecasts to increase skill. The skill of operational turbulence forecasts has increased steadily over recent decades, mirroring improvements in our understanding. However, more work is needed—ideally in collaboration with the aviation industry—to improve observations and increase forecast skill, to help maintain and enhance aviation safety standards in the future.

Forecasting conditional climate-change using a hybrid approach

Science.gov (United States)

Esfahani, Akbar Akbari; Friedel, Michael J.

2014-01-01

A novel approach is proposed to forecast the likelihood of climate-change across spatial landscape gradients. This hybrid approach involves reconstructing past precipitation and temperature using the self-organizing map technique; determining quantile trends in the climate-change variables by quantile regression modeling; and computing conditional forecasts of climate-change variables based on self-similarity in quantile trends using the fractionally differenced auto-regressive integrated moving average technique. The proposed modeling approach is applied to states (Arizona, California, Colorado, Nevada, New Mexico, and Utah) in the southwestern U.S., where conditional forecasts of climate-change variables are evaluated against recent (2012) observations, evaluated at a future time period (2030), and evaluated as future trends (2009–2059). These results have broad economic, political, and social implications because they quantify uncertainty in climate-change forecasts affecting various sectors of society. Another benefit of the proposed hybrid approach is that it can be extended to any spatiotemporal scale providing self-similarity exists.

Forecasting urban water demand: A meta-regression analysis.

Science.gov (United States)

Sebri, Maamar

2016-12-01

Water managers and planners require accurate water demand forecasts over the short-, medium- and long-term for many purposes. These range from assessing water supply needs over spatial and temporal patterns to optimizing future investments and planning future allocations across competing sectors. This study surveys the empirical literature on the urban water demand forecasting using the meta-analytical approach. Specifically, using more than 600 estimates, a meta-regression analysis is conducted to identify explanations of cross-studies variation in accuracy of urban water demand forecasting. Our study finds that accuracy depends significantly on study characteristics, including demand periodicity, modeling method, forecasting horizon, model specification and sample size. The meta-regression results remain robust to different estimators employed as well as to a series of sensitivity checks performed. The importance of these findings lies in the conclusions and implications drawn out for regulators and policymakers and for academics alike. Copyright © 2016. Published by Elsevier Ltd.

A methodology for Electric Power Load Forecasting

Directory of Open Access Journals (Sweden)

Eisa Almeshaiei

2011-06-01

Full Text Available Electricity demand forecasting is a central and integral process for planning periodical operations and facility expansion in the electricity sector. Demand pattern is almost very complex due to the deregulation of energy markets. Therefore, finding an appropriate forecasting model for a specific electricity network is not an easy task. Although many forecasting methods were developed, none can be generalized for all demand patterns. Therefore, this paper presents a pragmatic methodology that can be used as a guide to construct Electric Power Load Forecasting models. This methodology is mainly based on decomposition and segmentation of the load time series. Several statistical analyses are involved to study the load features and forecasting precision such as moving average and probability plots of load noise. Real daily load data from Kuwaiti electric network are used as a case study. Some results are reported to guide forecasting future needs of this network.

Business Planning in the Light of Neuro-fuzzy and Predictive Forecasting

Science.gov (United States)

Chakrabarti, Prasun; Basu, Jayanta Kumar; Kim, Tai-Hoon

In this paper we have pointed out gain sensing on forecast based techniques.We have cited an idea of neural based gain forecasting. Testing of sequence of gain pattern is also verifies using statsistical analysis of fuzzy value assignment. The paper also suggests realization of stable gain condition using K-Means clustering of data mining. A new concept of 3D based gain sensing has been pointed out. The paper also reveals what type of trend analysis can be observed for probabilistic gain prediction.

Short-Term Load Forecasting-Based Automatic Distribution Network Reconfiguration

Energy Technology Data Exchange (ETDEWEB)

Jiang, Huaiguang [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Ding, Fei [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Zhang, Yingchen [National Renewable Energy Laboratory (NREL), Golden, CO (United States)

2017-08-23

In a traditional dynamic network reconfiguration study, the optimal topology is determined at every scheduled time point by using the real load data measured at that time. The development of the load forecasting technique can provide an accurate prediction of the load power that will happen in a future time and provide more information about load changes. With the inclusion of load forecasting, the optimal topology can be determined based on the predicted load conditions during a longer time period instead of using a snapshot of the load at the time when the reconfiguration happens; thus, the distribution system operator can use this information to better operate the system reconfiguration and achieve optimal solutions. This paper proposes a short-term load forecasting approach to automatically reconfigure distribution systems in a dynamic and pre-event manner. Specifically, a short-term and high-resolution distribution system load forecasting approach is proposed with a forecaster based on support vector regression and parallel parameters optimization. The network reconfiguration problem is solved by using the forecasted load continuously to determine the optimal network topology with the minimum amount of loss at the future time. The simulation results validate and evaluate the proposed approach.

A global flash flood forecasting system

Science.gov (United States)

Baugh, Calum; Pappenberger, Florian; Wetterhall, Fredrik; Hewson, Tim; Zsoter, Ervin

2016-04-01

The sudden and devastating nature of flash flood events means it is imperative to provide early warnings such as those derived from Numerical Weather Prediction (NWP) forecasts. Currently such systems exist on basin, national and continental scales in Europe, North America and Australia but rely on high resolution NWP forecasts or rainfall-radar nowcasting, neither of which have global coverage. To produce global flash flood forecasts this work investigates the possibility of using forecasts from a global NWP system. In particular we: (i) discuss how global NWP can be used for flash flood forecasting and discuss strengths and weaknesses; (ii) demonstrate how a robust evaluation can be performed given the rarity of the event; (iii) highlight the challenges and opportunities in communicating flash flood uncertainty to decision makers; and (iv) explore future developments which would significantly improve global flash flood forecasting. The proposed forecast system uses ensemble surface runoff forecasts from the ECMWF H-TESSEL land surface scheme. A flash flood index is generated using the ERIC (Enhanced Runoff Index based on Climatology) methodology [Raynaud et al., 2014]. This global methodology is applied to a series of flash floods across southern Europe. Results from the system are compared against warnings produced using the higher resolution COSMO-LEPS limited area model. The global system is evaluated by comparing forecasted warning locations against a flash flood database of media reports created in partnership with floodlist.com. To deal with the lack of objectivity in media reports we carefully assess the suitability of different skill scores and apply spatial uncertainty thresholds to the observations. To communicate the uncertainties of the flash flood system output we experiment with a dynamic region-growing algorithm. This automatically clusters regions of similar return period exceedence probabilities, thus presenting the at-risk areas at a spatial

Forecasting Container Throughput at the Doraleh Port in Djibouti through Time Series Analysis

Science.gov (United States)

Mohamed Ismael, Hawa; Vandyck, George Kobina

The Doraleh Container Terminal (DCT) located in Djibouti has been noted as the most technologically advanced container terminal on the African continent. DCT's strategic location at the crossroads of the main shipping lanes connecting Asia, Africa and Europe put it in a unique position to provide important shipping services to vessels plying that route. This paper aims to forecast container throughput through the Doraleh Container Port in Djibouti by Time Series Analysis. A selection of univariate forecasting models has been used, namely Triple Exponential Smoothing Model, Grey Model and Linear Regression Model. By utilizing the above three models and their combination, the forecast of container throughput through the Doraleh port was realized. A comparison of the different forecasting results of the three models, in addition to the combination forecast is then undertaken, based on commonly used evaluation criteria Mean Absolute Deviation (MAD) and Mean Absolute Percentage Error (MAPE). The study found that the Linear Regression forecasting Model was the best prediction method for forecasting the container throughput, since its forecast error was the least. Based on the regression model, a ten (10) year forecast for container throughput at DCT has been made.

Do Investors Learn About Analyst Accuracy?

OpenAIRE

Chang, Charles; Daouk, Hazem; Wang, Albert

2008-01-01

We study the impact of analyst forecasts on prices to determine whether investors learn about analyst accuracy. Our test market is the crude oil futures market. Prices rise when analysts forecast a decrease (increase) in crude supplies. In the 15 minutes following supply realizations, prices rise (fall) when forecasts have been too high (low). In both the initial price action relative to forecasts and in the subsequent reaction relative to realized forecast errors, the price response is stron...

Sign realized jump risk and the cross-section of stock returns: Evidence from China's stock market.

Science.gov (United States)

Chao, Youcong; Liu, Xiaoqun; Guo, Shijun

2017-01-01

Using 5-minute high frequency data from the Chinese stock market, we employ a non-parametric method to estimate Fama-French portfolio realized jumps and investigate whether the estimated positive, negative and sign realized jumps could forecast or explain the cross-sectional stock returns. The Fama-MacBeth regression results show that not only have the realized jump components and the continuous volatility been compensated with risk premium, but also that the negative jump risk, the positive jump risk and the sign jump risk, to some extent, could explain the return of the stock portfolios. Therefore, we should pay high attention to the downside tail risk and the upside tail risk.

Forecasting the future risk of Barmah Forest virus disease under climate change scenarios in Queensland, Australia.

Directory of Open Access Journals (Sweden)

Suchithra Naish

Full Text Available BACKGROUND: Mosquito-borne diseases are climate sensitive and there has been increasing concern over the impact of climate change on future disease risk. This paper projected the potential future risk of Barmah Forest virus (BFV disease under climate change scenarios in Queensland, Australia. METHODS/PRINCIPAL FINDINGS: We obtained data on notified BFV cases, climate (maximum and minimum temperature and rainfall, socio-economic and tidal conditions for current period 2000-2008 for coastal regions in Queensland. Grid-data on future climate projections for 2025, 2050 and 2100 were also obtained. Logistic regression models were built to forecast the otential risk of BFV disease distribution under existing climatic, socio-economic and tidal conditions. The model was applied to estimate the potential geographic distribution of BFV outbreaks under climate change scenarios. The predictive model had good model accuracy, sensitivity and specificity. Maps on potential risk of future BFV disease indicated that disease would vary significantly across coastal regions in Queensland by 2100 due to marked differences in future rainfall and temperature projections. CONCLUSIONS/SIGNIFICANCE: We conclude that the results of this study demonstrate that the future risk of BFV disease would vary across coastal regions in Queensland. These results may be helpful for public health decision making towards developing effective risk management strategies for BFV disease control and prevention programs in Queensland.

Forecasting in the presence of expectations

Science.gov (United States)

Allen, R.; Zivin, J. G.; Shrader, J.

2016-05-01

Physical processes routinely influence economic outcomes, and actions by economic agents can, in turn, influence physical processes. This feedback creates challenges for forecasting and inference, creating the potential for complementarity between models from different academic disciplines. Using the example of prediction of water availability during a drought, we illustrate the potential biases in forecasts that only take part of a coupled system into account. In particular, we show that forecasts can alter the feedbacks between supply and demand, leading to inaccurate prediction about future states of the system. Although the example is specific to drought, the problem of feedback between expectations and forecast quality is not isolated to the particular model-it is relevant to areas as diverse as population assessments for conservation, balancing the electrical grid, and setting macroeconomic policy.

Forecasting for the Small Retail Business: Operational Recommendations

OpenAIRE

J. Holton Wilson; Robert H. Miller

1998-01-01

Often small business owners/managers feel they have inadequate time for formal forecasting and/or that they lack the expertise to do so. Since forecasting is an important decision-aiding tool, managers in small retail establishments can benefit by implementing a simple forecasting process. Doing so will enable them to better anticipate the firms future level of sales and lead to more successful operations. We suggest the use of relatively simple quantitative methods that have proven to work w...

Quantifying and Reducing Uncertainty in Correlated Multi-Area Short-Term Load Forecasting

Energy Technology Data Exchange (ETDEWEB)

Sun, Yannan; Hou, Zhangshuan; Meng, Da; Samaan, Nader A.; Makarov, Yuri V.; Huang, Zhenyu

2016-07-17

In this study, we represent and reduce the uncertainties in short-term electric load forecasting by integrating time series analysis tools including ARIMA modeling, sequential Gaussian simulation, and principal component analysis. The approaches are mainly focusing on maintaining the inter-dependency between multiple geographically related areas. These approaches are applied onto cross-correlated load time series as well as their forecast errors. Multiple short-term prediction realizations are then generated from the reduced uncertainty ranges, which are useful for power system risk analyses.

Taking Risks for the Future of Space Weather Forecasting, Research, and Operations

Science.gov (United States)

Jaynes, A. N.; Baker, D. N.; Kanekal, S. G.; Li, X.; Turner, D. L.

2017-12-01

Taking Risks for the Future of Space Weather Forecasting, Research, and Operations The need for highly improved space weather modeling and monitoring is quickly becoming imperative as our society depends ever more on the sensitive technology that builds and connects our world. Instead of relying primarily on tried and true concepts, academic institutions and funding agencies alike should be focusing on truly new and innovative ways to solve this pressing problem. In this exciting time, where student-led groups can launch CubeSats for under a million dollars and companies like SpaceX are actively reducing the cost-cap of access to space, the space physics community should be pushing the boundaries of what is possible to enhance our understanding of the space environment. Taking great risks in instrumentation, mission concepts, operational development, collaborations, and scientific research is the best way to move our field forward to where it needs to be for the betterment of science and society.

A Fuzzy Collaborative Forecasting Approach for Forecasting the Productivity of a Factory

Directory of Open Access Journals (Sweden)

Yi-Chi Wang

2013-01-01

Full Text Available Productivity is always considered as one of the most basic and important factors to the competitiveness of a factory. For this reason, all factories have sought to enhance productivity. To achieve this goal, we first need to estimate the productivity. However, there is considerable degree of uncertainty in productivity. For this reason, a fuzzy collaborative forecasting approach is proposed in this study to forecast the productivity of a factory. First, a learning model is established to estimate the future productivity. Subsequently, the learning model is converted into three equivalent nonlinear programming problems to be solved from various viewpoints. The fuzzy productivity forecasts by different experts may not be equal and should therefore be aggregated. To this end, the fuzzy intersection and back propagation network approach is applied. The practical example of a dynamic random access memory (DRAM factory is used to evaluate the effectiveness of the proposed methodology.

Real-time data processing and inflow forecasting

International Nuclear Information System (INIS)

Olason, T.; Lafreniere, M.

1998-01-01

One of the key inputs into the short-term scheduling of hydroelectric generation is inflow forecasting which is needed for natural or unregulated inflows into various lakes, reservoirs and river sections. The forecast time step and time horizon are determined by the time step and the scheduling horizon. Acres International Ltd. has developed the Vista Decision Support System (DSS) in which the time step is one hour and the scheduling can be done up to two weeks into the future. This paper presents the basis of the operational flow-forecasting module of the Vista DSS software and its application to flow forecasting for 16 basins within Nova Scotia Power's hydroelectric system. Among the tasks performed by the software are collection and treatment of data (in real time) regarding meteorological forecasts, reviews and monitoring of hydro-meteorological data, updating of the state variables in the module, and the review and adjustment of sub-watershed forecasts

Forecasting metal prices: Do forecasters herd?

DEFF Research Database (Denmark)

Pierdzioch, C.; Rulke, J. C.; Stadtmann, G.

2013-01-01

We analyze more than 20,000 forecasts of nine metal prices at four different forecast horizons. We document that forecasts are heterogeneous and report that anti-herding appears to be a source of this heterogeneity. Forecaster anti-herding reflects strategic interactions among forecasters...

Forecasting risks of natural gas consumption in Slovenia

Energy Technology Data Exchange (ETDEWEB)

Potocnik, Primoz; Govekar, Edvard; Grabec, Igor [Laboratory of Synergetics, Ljubljana (Slovenia). Faculty of Mechanical Engineering; Thaler, Marko; Poredos, Alojz [Laboratory for Refrigeration, Ljubljana (Slovenia). Faculty of Mechanical Engineering

2007-08-15

Efficient operation of modern energy distribution systems often requires forecasting future energy demand. This paper proposes a strategy to estimate forecasting risk. The objective of the proposed method is to improve knowledge about expected forecasting risk and to estimate the expected cash flow in advance, based on the risk model. The strategy combines an energy demand forecasting model, an economic incentive model and a risk model. Basic guidelines are given for the construction of a forecasting model that combines past energy consumption data, weather data and weather forecast. The forecasting model is required to estimate expected forecasting errors that are the basis for forecasting risk estimation. The risk estimation strategy also requires an economic incentive model that describes the influence of forecasting accuracy on the energy distribution systems' cash flow. The economic model defines the critical forecasting error levels that most strongly influence cash flow. Based on the forecasting model and the economic model, the development of a risk model is proposed. The risk model is associated with critical forecasting error levels in the context of various influential parameters such as seasonal data, month, day of the week and temperature. The risk model is applicable to estimating the daily forecasting risk based on the influential parameters. The proposed approach is illustrated by a case study of a Slovenian natural gas distribution company. (author)

Forecasting risks of natural gas consumption in Slovenia

International Nuclear Information System (INIS)

Potocnik, Primoz; Thaler, Marko; Govekar, Edvard; Grabec, Igor; Poredos, Alojz

2007-01-01

Efficient operation of modern energy distribution systems often requires forecasting future energy demand. This paper proposes a strategy to estimate forecasting risk. The objective of the proposed method is to improve knowledge about expected forecasting risk and to estimate the expected cash flow in advance, based on the risk model. The strategy combines an energy demand forecasting model, an economic incentive model and a risk model. Basic guidelines are given for the construction of a forecasting model that combines past energy consumption data, weather data and weather forecast. The forecasting model is required to estimate expected forecasting errors that are the basis for forecasting risk estimation. The risk estimation strategy also requires an economic incentive model that describes the influence of forecasting accuracy on the energy distribution systems' cash flow. The economic model defines the critical forecasting error levels that most strongly influence cash flow. Based on the forecasting model and the economic model, the development of a risk model is proposed. The risk model is associated with critical forecasting error levels in the context of various influential parameters such as seasonal data, month, day of the week and temperature. The risk model is applicable to estimating the daily forecasting risk based on the influential parameters. The proposed approach is illustrated by a case study of a Slovenian natural gas distribution company

Sales Forecasting for Fashion Retailing Service Industry: A Review

Directory of Open Access Journals (Sweden)

Na Liu

2013-01-01

Full Text Available Sales forecasting is crucial for many retail operations. It is especially critical for the fashion retailing service industry in which product demand is very volatile and product’s life cycle is short. This paper conducts a comprehensive literature review and selects a set of papers in the literature on fashion retail sales forecasting. The advantages and the drawbacks of different kinds of analytical methods for fashion retail sales forecasting are examined. The evolution of the respective forecasting methods over the past 15 years is revealed. Issues related to real-world applications of the fashion retail sales forecasting models and important future research directions are discussed.

Sub-Seasonal Climate Forecast Rodeo

Science.gov (United States)

Webb, R. S.; Nowak, K.; Cifelli, R.; Brekke, L. D.

2017-12-01

The Bureau of Reclamation, as the largest water wholesaler and the second largest producer of hydropower in the United States, benefits from skillful forecasts of future water availability. Researchers, water managers from local, regional, and federal agencies, and groups such as the Western States Water Council agree that improved precipitation and temperature forecast information at the sub-seasonal to seasonal (S2S) timescale is an area with significant potential benefit to water management. In response, and recognizing NOAA's leadership in forecasting, Reclamation has partnered with NOAA to develop and implement a real-time S2S forecasting competition. For a year, solvers are submitting forecasts of temperature and precipitation for weeks 3&4 and 5&6 every two weeks on a 1x1 degree grid for the 17 western state domain where Reclamation operates. The competition began on April 18, 2017 and the final real-time forecast is due April 3, 2018. Forecasts are evaluated once observational data become available using spatial anomaly correlation. Scores are posted on a competition leaderboard hosted by the National Integrated Drought Information System (NIDIS). The leaderboard can be accessed at: https://www.drought.gov/drought/sub-seasonal-climate-forecast-rodeo. To be eligible for cash prizes - which total $800,000 - solvers must outperform two benchmark forecasts during the real-time competition as well as in a required 11-year hind-cast. To receive a prize, competitors must grant a non-exclusive license to practice their forecast technique and make it available as open source software. At approximately one quarter complete, there are teams outperforming the benchmarks in three of the four competition categories. With prestige and monetary incentives on the line, it is hoped that the competition will spur innovation of improved S2S forecasts through novel approaches, enhancements to established models, or otherwise. Additionally, the competition aims to raise

Towards Energy Efficiency: Forecasting Indoor Temperature via Multivariate Analysis

Directory of Open Access Journals (Sweden)

Juan Pardo

2013-09-01

Full Text Available The small medium large system (SMLsystem is a house built at the Universidad CEU Cardenal Herrera (CEU-UCH for participation in the Solar Decathlon 2013 competition. Several technologies have been integrated to reduce power consumption. One of these is a forecasting system based on artificial neural networks (ANNs, which is able to predict indoor temperature in the near future using captured data by a complex monitoring system as the input. A study of the impact on forecasting performance of different covariate combinations is presented in this paper. Additionally, a comparison of ANNs with the standard statistical forecasting methods is shown. The research in this paper has been focused on forecasting the indoor temperature of a house, as it is directly related to HVAC—heating, ventilation and air conditioning—system consumption. HVAC systems at the SMLsystem house represent 53:89% of the overall power consumption. The energy used to maintain temperature was measured to be 30%–38:9% of the energy needed to lower it. Hence, these forecasting measures allow the house to adapt itself to future temperature conditions by using home automation in an energy-efficient manner. Experimental results show a high forecasting accuracy and therefore, they might be used to efficiently control an HVAC system.

Assessment of storm forecast

DEFF Research Database (Denmark)

Cutululis, Nicolaos Antonio; Hahmann, Andrea N.; Huus Bjerge, Martin

When wind speed exceeds a certain value, wind turbines shut-down in order to protect their structure. This leads to sudden wind plants shut down and to new challenges concerning the secure operation of the pan-European electric system with future large scale offshore wind power. This task aims...... stopped, completely or partially, producing due to extreme wind speeds. Wind speed and power measurements from those events are presented and compared to the forecast available at Energinet.dk. The analysis looked at wind speed and wind power forecast. The main conclusion of the analysis is that the wind...... to consider it an EWP) and that the available wind speed forecasts are given as a mean wind speed over a rather large area. At wind power level, the analysis shows that prediction of accurate production levels from a wind farm experiencing EWP is rather poor. This is partially because the power curve...

Short-Term Load Forecasting Based Automatic Distribution Network Reconfiguration: Preprint

Energy Technology Data Exchange (ETDEWEB)

Jiang, Huaiguang [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Ding, Fei [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Zhang, Yingchen [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Jiang, Huaiguang [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Ding, Fei [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Zhang, Yingchen [National Renewable Energy Laboratory (NREL), Golden, CO (United States)

2017-07-26

In the traditional dynamic network reconfiguration study, the optimal topology is determined at every scheduled time point by using the real load data measured at that time. The development of load forecasting technique can provide accurate prediction of load power that will happen in future time and provide more information about load changes. With the inclusion of load forecasting, the optimal topology can be determined based on the predicted load conditions during the longer time period instead of using the snapshot of load at the time when the reconfiguration happens, and thus it can provide information to the distribution system operator (DSO) to better operate the system reconfiguration to achieve optimal solutions. Thus, this paper proposes a short-term load forecasting based approach for automatically reconfiguring distribution systems in a dynamic and pre-event manner. Specifically, a short-term and high-resolution distribution system load forecasting approach is proposed with support vector regression (SVR) based forecaster and parallel parameters optimization. And the network reconfiguration problem is solved by using the forecasted load continuously to determine the optimal network topology with the minimum loss at the future time. The simulation results validate and evaluate the proposed approach.

Application of SARIMA model to forecasting monthly flows in Waterval River, South Africa

Directory of Open Access Journals (Sweden)

Tadesse Kassahun Birhanu

2017-12-01

Full Text Available Knowledge of future river flow information is fundamental for development and management of a river system. In this study, Waterval River flow was forecasted by SARIMA model using GRETL statistical software. Mean monthly flows from 1960 to 2016 were used for modelling and forecasting. Different unit root and Mann–Kendall trend analysis proved the stationarity of the observed flow time series. Based on seasonally differenced correlogram characteristics, different SARIMA models were evaluated; their parameters were optimized, and diagnostic check up of forecasts was made using white noise and heteroscedasticity tests. Finally, based on minimum Akaike Information (AI and Hannan–Quinn (HQ criteria, SARIMA (3, 0, 2 x (3, 1, 312 model was selected for Waterval River flow forecasting. Comparison of forecast performance of SARIMA models with that of computational intelligent forecasting techniques was recommended for future study.

Forecasting Vulnerability to Drought-related Mortality in Western US Forests

Science.gov (United States)

Buotte, P.; Law, B. E.; Hudiburg, T. W.

2017-12-01

Climate-driven tree mortality has been documented across the globe, and continued future mortality is expected. Such mortality could pose threats to ecosystem services, including carbon sequestration. Therefore, forecasting future mortality is critical. Ecosystem process models can be a tool for forecasting forest vulnerability to drought. We modified the Community Land Model (CLM4.5) to forecast forest vulnerability to drought-related mortality in the western US. We increased the ecological resolution by parameterizing CLM4.5 to recognize 14 different forest types common to the region. We used published physiological traits and tuned CLM4.5 to match present day above ground carbon stocks. We incorporated the influence of drought stress through species- or genus-specific controls on stomatal conductance given soil moisture and increased rates of leaf shed during prolonged periods of low soil moisture. We ran CLM4.5 at a 1/24 degree spatial resolution in offline mode using climate forcing data. We compare forest growth and carbon sequestration metrics (e.g. chronic reduction of GPP below its potential) between historical and future time periods to determine relevant metrics of vulnerability to drought-related mortality. Using the robust metrics, we will forecast and map future forest vulnerability to drought-related mortality given a range of climate scenarios.

Short-term electricity prices forecasting in a competitive market: A neural network approach

International Nuclear Information System (INIS)

Catalao, J.P.S.; Mariano, S.J.P.S.; Mendes, V.M.F.; Ferreira, L.A.F.M.

2007-01-01

This paper proposes a neural network approach for forecasting short-term electricity prices. Almost until the end of last century, electricity supply was considered a public service and any price forecasting which was undertaken tended to be over the longer term, concerning future fuel prices and technical improvements. Nowadays, short-term forecasts have become increasingly important since the rise of the competitive electricity markets. In this new competitive framework, short-term price forecasting is required by producers and consumers to derive their bidding strategies to the electricity market. Accurate forecasting tools are essential for producers to maximize their profits, avowing profit losses over the misjudgement of future price movements, and for consumers to maximize their utilities. A three-layered feedforward neural network, trained by the Levenberg-Marquardt algorithm, is used for forecasting next-week electricity prices. We evaluate the accuracy of the price forecasting attained with the proposed neural network approach, reporting the results from the electricity markets of mainland Spain and California. (author)

Incorporating operational experience and design changes in availability forecasts

International Nuclear Information System (INIS)

Norman, D.

1988-01-01

Reliability or availability forecasts which are based solely on past operating experience will be precise if the sample is large enough, and unbiased if nothing in the future design, environment, operating region or anything else changes. Unfortunately, life is never like that. This paper considers the methodology and philosophy of modifying forecasts based on past experience to take account also of changes in design, construction methods, operating philosophy, environments, operator training and so on, between the plants which provided the operating experience and the plant for which the forecast is being made. This emphasises the importance of collecting, assessing, and learning from past data and of a thorough knowledge of future designs, and procurement, operation, and maintenance policies. The difference between targets and central estimates is also discussed. The paper concludes that improvements in future availability can be made by learning from past experience, but that certain conditions must be fulfilled in order to do so. (author)

The Determinants of Equity Risk and Their Forecasting Implications: A Quantile Regression Perspective

Directory of Open Access Journals (Sweden)

Giovanni Bonaccolto

2016-07-01

Full Text Available Several market and macro-level variables influence the evolution of equity risk in addition to the well-known volatility persistence. However, the impact of those covariates might change depending on the risk level, being different between low and high volatility states. By combining equity risk estimates, obtained from the Realized Range Volatility, corrected for microstructure noise and jumps, and quantile regression methods, we evaluate the forecasting implications of the equity risk determinants in different volatility states and, without distributional assumptions on the realized range innovations, we recover both the points and the conditional distribution forecasts. In addition, we analyse how the the relationships among the involved variables evolve over time, through a rolling window procedure. The results show evidence of the selected variables’ relevant impacts and, particularly during periods of market stress, highlight heterogeneous effects across quantiles.

Forecasting global atmospheric CO2

International Nuclear Information System (INIS)

Agusti-Panareda, A.; Massart, S.; Boussetta, S.; Balsamo, G.; Beljaars, A.; Engelen, R.; Jones, L.; Peuch, V.H.; Chevallier, F.; Ciais, P.; Paris, J.D.; Sherlock, V.

2014-01-01

A new global atmospheric carbon dioxide (CO 2 ) real-time forecast is now available as part of the preoperational Monitoring of Atmospheric Composition and Climate - Interim Implementation (MACC-II) service using the infrastructure of the European Centre for Medium-Range Weather Forecasts (ECMWF) Integrated Forecasting System (IFS). One of the strengths of the CO 2 forecasting system is that the land surface, including vegetation CO 2 fluxes, is modelled online within the IFS. Other CO 2 fluxes are prescribed from inventories and from off-line statistical and physical models. The CO 2 forecast also benefits from the transport modelling from a state-of-the-art numerical weather prediction (NWP) system initialized daily with a wealth of meteorological observations. This paper describes the capability of the forecast in modelling the variability of CO 2 on different temporal and spatial scales compared to observations. The modulation of the amplitude of the CO 2 diurnal cycle by near-surface winds and boundary layer height is generally well represented in the forecast. The CO 2 forecast also has high skill in simulating day-to-day synoptic variability. In the atmospheric boundary layer, this skill is significantly enhanced by modelling the day-to-day variability of the CO 2 fluxes from vegetation compared to using equivalent monthly mean fluxes with a diurnal cycle. However, biases in the modelled CO 2 fluxes also lead to accumulating errors in the CO 2 forecast. These biases vary with season with an underestimation of the amplitude of the seasonal cycle both for the CO 2 fluxes compared to total optimized fluxes and the atmospheric CO 2 compared to observations. The largest biases in the atmospheric CO 2 forecast are found in spring, corresponding to the onset of the growing season in the Northern Hemisphere. In the future, the forecast will be re-initialized regularly with atmospheric CO 2 analyses based on the assimilation of CO 2 products retrieved from satellite

Artificial Intelligence as a Business Forecasting and Error Handling Tool

OpenAIRE

Md. Tabrez Quasim; Rupak Chattopadhyay

2015-01-01

 Any business enterprise must rely a lot on how well it can predict the future happenings. To cope up with the modern global customer demand, technological challenges, market competitions etc., any organization is compelled to foresee the future having maximum impact and least chances of errors. The traditional forecasting approaches have some limitations. That is why the business world is adopting the modern Artificial Intelligence based forecasting techniques. This paper has tried to presen...

Forecasting Long-Run Electricity Prices

International Nuclear Information System (INIS)

Hamm, Gregory; Borison, Adam

2006-01-01

Estimation of long-run electricity prices is extremely important but it is also very difficult because of the many uncertainties that will determine future prices, and because of the lack of sufficient historical and forwards data. The difficulty is compounded when forecasters ignore part of the available information or unnecessarily limit their thinking about the future. The authors present a practical approach that addresses these problems. (author)

Forecasting Canadian nuclear power station construction costs

International Nuclear Information System (INIS)

Keng, C.W.K.

1985-01-01

Because of the huge volume of capital required to construct a modern electric power generating station, investment decisions have to be made with as complete an understanding of the consequences of the decision as possible. This understanding must be provided by the evaluation of future situations. A key consideration in an evaluation is the financial component. This paper attempts to use an econometric method to forecast the construction costs escalation of a standard Canadian nuclear generating station (NGS). A brief review of the history of Canadian nuclear electric power is provided. The major components of the construction costs of a Canadian NGS are studied and summarized. A database is built and indexes are prepared. Based on these indexes, an econometric forecasting model is constructed using an apparently new econometric methodology of forecasting modelling. Forecasts for a period of 40 years are generated and applications (such as alternative scenario forecasts and range forecasts) to uncertainty assessment and/or decision-making are demonstrated. The indexes, the model, and the forecasts and their applications, to the best of the author's knowledge, are the first for Canadian NGS constructions. (author)

Analysis and Modeling for China’s Electricity Demand Forecasting Using a Hybrid Method Based on Multiple Regression and Extreme Learning Machine: A View from Carbon Emission

Directory of Open Access Journals (Sweden)

Yi Liang

2016-11-01

Full Text Available The power industry is the main battlefield of CO2 emission reduction, which plays an important role in the implementation and development of the low carbon economy. The forecasting of electricity demand can provide a scientific basis for the country to formulate a power industry development strategy and further promote the sustained, healthy and rapid development of the national economy. Under the goal of low-carbon economy, medium and long term electricity demand forecasting will have very important practical significance. In this paper, a new hybrid electricity demand model framework is characterized as follows: firstly, integration of grey relation degree (GRD with induced ordered weighted harmonic averaging operator (IOWHA to propose a new weight determination method of hybrid forecasting model on basis of forecasting accuracy as induced variables is presented; secondly, utilization of the proposed weight determination method to construct the optimal hybrid forecasting model based on extreme learning machine (ELM forecasting model and multiple regression (MR model; thirdly, three scenarios in line with the level of realization of various carbon emission targets and dynamic simulation of effect of low-carbon economy on future electricity demand are discussed. The resulting findings show that, the proposed model outperformed and concentrated some monomial forecasting models, especially in boosting the overall instability dramatically. In addition, the development of a low-carbon economy will increase the demand for electricity, and have an impact on the adjustment of the electricity demand structure.

Model-free aftershock forecasts constructed from similar sequences in the past

Science.gov (United States)

van der Elst, N.; Page, M. T.

2017-12-01

The basic premise behind aftershock forecasting is that sequences in the future will be similar to those in the past. Forecast models typically use empirically tuned parametric distributions to approximate past sequences, and project those distributions into the future to make a forecast. While parametric models do a good job of describing average outcomes, they are not explicitly designed to capture the full range of variability between sequences, and can suffer from over-tuning of the parameters. In particular, parametric forecasts may produce a high rate of "surprises" - sequences that land outside the forecast range. Here we present a non-parametric forecast method that cuts out the parametric "middleman" between training data and forecast. The method is based on finding past sequences that are similar to the target sequence, and evaluating their outcomes. We quantify similarity as the Poisson probability that the observed event count in a past sequence reflects the same underlying intensity as the observed event count in the target sequence. Event counts are defined in terms of differential magnitude relative to the mainshock. The forecast is then constructed from the distribution of past sequences outcomes, weighted by their similarity. We compare the similarity forecast with the Reasenberg and Jones (RJ95) method, for a set of 2807 global aftershock sequences of M≥6 mainshocks. We implement a sequence-specific RJ95 forecast using a global average prior and Bayesian updating, but do not propagate epistemic uncertainty. The RJ95 forecast is somewhat more precise than the similarity forecast: 90% of observed sequences fall within a factor of two of the median RJ95 forecast value, whereas the fraction is 85% for the similarity forecast. However, the surprise rate is much higher for the RJ95 forecast; 10% of observed sequences fall in the upper 2.5% of the (Poissonian) forecast range. The surprise rate is less than 3% for the similarity forecast. The similarity

Research and Application of a Hybrid Forecasting Model Based on Data Decomposition for Electrical Load Forecasting

Directory of Open Access Journals (Sweden)

Yuqi Dong

2016-12-01

Full Text Available Accurate short-term electrical load forecasting plays a pivotal role in the national economy and people’s livelihood through providing effective future plans and ensuring a reliable supply of sustainable electricity. Although considerable work has been done to select suitable models and optimize the model parameters to forecast the short-term electrical load, few models are built based on the characteristics of time series, which will have a great impact on the forecasting accuracy. For that reason, this paper proposes a hybrid model based on data decomposition considering periodicity, trend and randomness of the original electrical load time series data. Through preprocessing and analyzing the original time series, the generalized regression neural network optimized by genetic algorithm is used to forecast the short-term electrical load. The experimental results demonstrate that the proposed hybrid model can not only achieve a good fitting ability, but it can also approximate the actual values when dealing with non-linear time series data with periodicity, trend and randomness.

Seasonal forecasting of groundwater levels in natural aquifers in the United Kingdom

Science.gov (United States)

Mackay, Jonathan; Jackson, Christopher; Pachocka, Magdalena; Brookshaw, Anca; Scaife, Adam

2014-05-01

Groundwater aquifers comprise the world's largest freshwater resource and provide resilience to climate extremes which could become more frequent under future climate changes. Prolonged dry conditions can induce groundwater drought, often characterised by significantly low groundwater levels which may persist for months to years. In contrast, lasting wet conditions can result in anomalously high groundwater levels which result in flooding, potentially at large economic cost. Using computational models to produce groundwater level forecasts allows appropriate management strategies to be considered in advance of extreme events. The majority of groundwater level forecasting studies to date use data-based models, which exploit the long response time of groundwater levels to meteorological drivers and make forecasts based only on the current state of the system. Instead, seasonal meteorological forecasts can be used to drive hydrological models and simulate groundwater levels months into the future. Such approaches have not been used in the past due to a lack of skill in these long-range forecast products. However systems such as the latest version of the Met Office Global Seasonal Forecast System (GloSea5) are now showing increased skill up to a 3-month lead time. We demonstrate the first groundwater level ensemble forecasting system using a multi-member ensemble of hindcasts from GloSea5 between 1996 and 2009 to force 21 simple lumped conceptual groundwater models covering most of the UK's major aquifers. We present the results from this hindcasting study and demonstrate that the system can be used to forecast groundwater levels with some skill up to three months into the future.

Leverage effect, economic policy uncertainty and realized volatility with regime switching

Science.gov (United States)

Duan, Yinying; Chen, Wang; Zeng, Qing; Liu, Zhicao

2018-03-01

In this study, we first investigate the impacts of leverage effect and economic policy uncertainty (EPU) on future volatility in the framework of regime switching. Out-of-sample results show that the HAR-RV including the leverage effect and economic policy uncertainty with regimes can achieve higher forecast accuracy than RV-type and GARCH-class models. Our robustness results further imply that these factors in the framework of regime switching can substantially improve the HAR-RV's forecast performance.

Statistical methods for forecasting

CERN Document Server

Abraham, Bovas

2009-01-01

The Wiley-Interscience Paperback Series consists of selected books that have been made more accessible to consumers in an effort to increase global appeal and general circulation. With these new unabridged softcover volumes, Wiley hopes to extend the lives of these works by making them available to future generations of statisticians, mathematicians, and scientists."This book, it must be said, lives up to the words on its advertising cover: ''Bridging the gap between introductory, descriptive approaches and highly advanced theoretical treatises, it provides a practical, intermediate level discussion of a variety of forecasting tools, and explains how they relate to one another, both in theory and practice.'' It does just that!"-Journal of the Royal Statistical Society"A well-written work that deals with statistical methods and models that can be used to produce short-term forecasts, this book has wide-ranging applications. It could be used in the context of a study of regression, forecasting, and time series ...

Particle Swarm Optimization-based BP Neural Network for UHV DC Insulator Pollution Forecasting

Directory of Open Access Journals (Sweden)

Fangcheng Lü

2014-02-01

Full Text Available In order to realize the forecasting of the UHV DC insulator's pollution conditions, we introduced a PSOBP algorithm. A BP neural network (BPNN with leakage current, temperature, relative humidity and dew point as input neurons, and ESDD as output neuron was built to forecast the ESDD. The PSO was used to optimize the the BPNN, which had great improved the convergence rate of the BP neural network. The dew point as a brand new input unit has improved the iteration speed of the PSOBP algorithm in this study. It was the first time that the PSOBP algorithm was applied to the UHV DC insulator pollution forecasting. The experiment results showed that the method had great advantages in accuracy and speed of convergence. The research showed that this algorithm was suitable for the UHV DC insulator pollution forecasting.

The development rainfall forecasting using kalman filter

Science.gov (United States)

Zulfi, Mohammad; Hasan, Moh.; Dwidja Purnomo, Kosala

2018-04-01

Rainfall forecasting is very interesting for agricultural planing. Rainfall information is useful to make decisions about the plan planting certain commodities. In this studies, the rainfall forecasting by ARIMA and Kalman Filter method. Kalman Filter method is used to declare a time series model of which is shown in the form of linear state space to determine the future forecast. This method used a recursive solution to minimize error. The rainfall data in this research clustered by K-means clustering. Implementation of Kalman Filter method is for modelling and forecasting rainfall in each cluster. We used ARIMA (p,d,q) to construct a state space for KalmanFilter model. So, we have four group of the data and one model in each group. In conclusions, Kalman Filter method is better than ARIMA model for rainfall forecasting in each group. It can be showed from error of Kalman Filter method that smaller than error of ARIMA model.

Data Driven Broiler Weight Forecasting using Dynamic Neural Network Models

DEFF Research Database (Denmark)

Johansen, Simon Vestergaard; Bendtsen, Jan Dimon; Riisgaard-Jensen, Martin

2017-01-01

In this article, the dynamic influence of environmental broiler house conditions and broiler growth is investigated. Dynamic neural network forecasting models have been trained on farm-scale broiler batch production data from 12 batches from the same house. The model forecasts future broiler weight...... and uses environmental conditions such as heating, ventilation, and temperature along with broiler behavior such as feed and water consumption. Training data and forecasting data is analyzed to explain when the model might fail at generalizing. We present ensemble broiler weight forecasts to day 7, 14, 21...

FINANCIAL FUTURE PROSPECT INVESTIGATION USING BANKRUPTCY FORECASTING MODELS IN HUNGARIAN MEAT PROCESSING INDUSTRY

Directory of Open Access Journals (Sweden)

Dalma Peto

2015-07-01

Full Text Available Our main research topic is the analysis of leading companies in the Hungarian meat processing industry in terms of liquidity criteria. We examine this scientific subject by application of financial indicators and several important bankruptcy forecasting models. In our thesis the emphasis is placed on the presentation and evaluation of business failure models. The topicality of the research subject is rooted in the economic crisis and recession, which made solvency a key issue. Maintaining the competitive position in the market and the ability to stay in competition depend on the capability to generate an appropriate level of net operative cash flow. The most important research questions are the following. Which financial methods can be used to predict and estimate the situation when a company is facing bankruptcy? Do bankruptcy forecasting models provide accurate forecasts and what conclusions can be drawn based on these results? In our study we present the actual economic situation and the main problems of the sector, select the sample companies, calculate and compare the applied financial ratios and the most relevant bankruptcy forecasting models. On the basis of annual reports concerning 2010-2013 interval we investigate the financial position of leading pork processing companies. We make a comprehensive and comparative analysis concerning capital structure, liquidity, and profitability; consequently identify risky processes and companies having high probability of insolvency. Finally, we demonstrate and evaluate the results of three traditional bankruptcy forecasting models (Altman, Springate, and Fulmer and four modern models (DA, LR, industrial DA and industrial LR.

Demand forecasting for automotive sector in Malaysia by system dynamics approach

International Nuclear Information System (INIS)

Zulkepli, Jafri; Abidin, Norhaslinda Zainal; Fong, Chan Hwa

2015-01-01

In general, Proton as an automotive company needs to forecast future demand of the car to assist in decision making related to capacity expansion planning. One of the forecasting approaches that based on judgemental or subjective factors is normally used to forecast the demand. As a result, demand could be overstock that eventually will increase the operation cost; or the company will face understock, which resulted losing their customers. Due to automotive industry is very challenging process because of high level of complexity and uncertainty involved in the system, an accurate tool to forecast the future of automotive demand from the modelling perspective is required. Hence, the main objective of this paper is to forecast the demand of automotive Proton car industry in Malaysia using system dynamics approach. Two types of intervention namely optimistic and pessimistic experiments scenarios have been tested to determine the capacity expansion that can prevent the company from overstocking. Finding from this study highlighted that the management needs to expand their production for optimistic scenario, whilst pessimistic give results that would otherwise. Finally, this study could help Proton Edar Sdn. Bhd (PESB) to manage the long-term capacity planning in order to meet the future demand of the Proton cars

Demand forecasting for automotive sector in Malaysia by system dynamics approach

Energy Technology Data Exchange (ETDEWEB)

Zulkepli, Jafri, E-mail: zhjafri@uum.edu.my; Abidin, Norhaslinda Zainal, E-mail: nhaslinda@uum.edu.my [School of Quantitative Sciences, Universiti Utara Malaysia, Sintok, Kedah (Malaysia); Fong, Chan Hwa, E-mail: hfchan7623@yahoo.com [SWM Environment Sdn. Bhd.Level 17, Menara LGB, Taman Tun Dr. Ismail Kuala Lumpur (Malaysia)

2015-12-11

In general, Proton as an automotive company needs to forecast future demand of the car to assist in decision making related to capacity expansion planning. One of the forecasting approaches that based on judgemental or subjective factors is normally used to forecast the demand. As a result, demand could be overstock that eventually will increase the operation cost; or the company will face understock, which resulted losing their customers. Due to automotive industry is very challenging process because of high level of complexity and uncertainty involved in the system, an accurate tool to forecast the future of automotive demand from the modelling perspective is required. Hence, the main objective of this paper is to forecast the demand of automotive Proton car industry in Malaysia using system dynamics approach. Two types of intervention namely optimistic and pessimistic experiments scenarios have been tested to determine the capacity expansion that can prevent the company from overstocking. Finding from this study highlighted that the management needs to expand their production for optimistic scenario, whilst pessimistic give results that would otherwise. Finally, this study could help Proton Edar Sdn. Bhd (PESB) to manage the long-term capacity planning in order to meet the future demand of the Proton cars.

Medium-term electric power demand forecasting based on economic-electricity transmission model

Science.gov (United States)

Li, Wenfeng; Bao, Fangmin; Bai, Hongkun; Liu, Wei; Liu, Yongmin; Mao, Yubin; Wang, Jiangbo; Liu, Junhui

2018-06-01

Electric demand forecasting is a basic work to ensure the safe operation of power system. Based on the theories of experimental economics and econometrics, this paper introduces Prognoz Platform 7.2 intelligent adaptive modeling platform, and constructs the economic electricity transmission model that considers the economic development scenarios and the dynamic adjustment of industrial structure to predict the region's annual electricity demand, and the accurate prediction of the whole society's electricity consumption is realized. Firstly, based on the theories of experimental economics and econometrics, this dissertation attempts to find the economic indicator variables that drive the most economical growth of electricity consumption and availability, and build an annual regional macroeconomic forecast model that takes into account the dynamic adjustment of industrial structure. Secondly, it innovatively put forward the economic electricity directed conduction theory and constructed the economic power transfer function to realize the group forecast of the primary industry + rural residents living electricity consumption, urban residents living electricity, the second industry electricity consumption, the tertiary industry electricity consumption; By comparing with the actual value of economy and electricity in Henan province in 2016, the validity of EETM model is proved, and the electricity consumption of the whole province from 2017 to 2018 is predicted finally.

Forecast communication through the newspaper Part 1: Framing the forecaster

Science.gov (United States)

Harris, Andrew J. L.

2015-04-01

This review is split into two parts both of which address issues of forecast communication of an environmental disaster through the newspaper during a period of crisis. The first part explores the process by which information passes from the scientist or forecaster, through the media filter, to the public. As part of this filter preference, omission, selection of data, source, quote and story, as well as placement of the same information within an individual piece or within the newspaper itself, can serve to distort the message. The result is the introduction of bias and slant—that is, the message becomes distorted so as to favor one side of the argument against another as it passes through the filter. Bias can be used to support spin or agenda setting, so that a particular emphasis becomes placed on the story which exerts an influence on the reader's judgment. The net result of the filter components is either a negative (contrary) or positive (supportive) frame. Tabloidization of the news has also resulted in the use of strong, evocative, exaggerated words, headlines and images to support a frame. I illustrate these various elements of the media filter using coverage of the air space closure due to the April 2010 eruption of Eyjafjallajökull (Iceland). Using the British press coverage of this event it is not difficult to find examples of all media filter elements, application of which resulted in bias against the forecast and forecaster. These actors then became named and blamed. Within this logic, it becomes only too easy for forecasters and scientists to be framed in a negative way through blame culture. The result is that forecast is framed in such a way so as to cause the forecaster to be blamed for all losses associated with the loss-causing event. Within the social amplification of risk framework (SARF), this can amplify a negative impression of the risk, the event and the response. However, actions can be taken to avoid such an outcome. These actions

Spectral Analysis of Forecast Error Investigated with an Observing System Simulation Experiment

Science.gov (United States)

Prive, N. C.; Errico, Ronald M.

2015-01-01

The spectra of analysis and forecast error are examined using the observing system simulation experiment (OSSE) framework developed at the National Aeronautics and Space Administration Global Modeling and Assimilation Office (NASAGMAO). A global numerical weather prediction model, the Global Earth Observing System version 5 (GEOS-5) with Gridpoint Statistical Interpolation (GSI) data assimilation, is cycled for two months with once-daily forecasts to 336 hours to generate a control case. Verification of forecast errors using the Nature Run as truth is compared with verification of forecast errors using self-analysis; significant underestimation of forecast errors is seen using self-analysis verification for up to 48 hours. Likewise, self analysis verification significantly overestimates the error growth rates of the early forecast, as well as mischaracterizing the spatial scales at which the strongest growth occurs. The Nature Run-verified error variances exhibit a complicated progression of growth, particularly for low wave number errors. In a second experiment, cycling of the model and data assimilation over the same period is repeated, but using synthetic observations with different explicitly added observation errors having the same error variances as the control experiment, thus creating a different realization of the control. The forecast errors of the two experiments become more correlated during the early forecast period, with correlations increasing for up to 72 hours before beginning to decrease.

Information Sharing in a Closed-Loop Supply Chain with Asymmetric Demand Forecasts

Directory of Open Access Journals (Sweden)

Pan Zhang

2017-01-01

Full Text Available This paper studies the problem of sharing demand forecast information in a closed-loop supply chain with the manufacturer collecting and remanufacturing. We investigate two scenarios: the “make-to-order” scenario, in which the manufacturer schedules production based on the realized demand, and the “make-to-stock” scenario, in which the manufacturer schedules production before the demand is known. For each scenario, we find that it is possible for the retailer to share his forecast without incentives when the collection efficiency of the manufacturer is high. When the efficiency is moderate, information sharing can be realized by a bargaining mechanism, and when the efficiency is low, non-information sharing is a unique equilibrium. Moreover, the possibility of information sharing in the make-to-stock scenario is higher than that in the make-to-order scenario. In addition, we analyze the impact of demand forecasts’ characteristics on the value of information sharing in both scenarios.

Uncertain Climate Forecasts From Multimodel Ensembles: When to Use Them and When to Ignore Them

OpenAIRE

Jewson, Stephen; Rowlands, Dan

2010-01-01

Uncertainty around multimodel ensemble forecasts of changes in future climate reduces the accuracy of those forecasts. For very uncertain forecasts this effect may mean that the forecasts should not be used. We investigate the use of the well-known Bayesian Information Criterion (BIC) to make the decision as to whether a forecast should be used or ignored.

Using Bayes Model Averaging for Wind Power Forecasts

Science.gov (United States)

Preede Revheim, Pål; Beyer, Hans Georg

2014-05-01

For operational purposes predictions of the forecasts of the lumped output of groups of wind farms spread over larger geographic areas will often be of interest. A naive approach is to make forecasts for each individual site and sum them up to get the group forecast. It is however well documented that a better choice is to use a model that also takes advantage of spatial smoothing effects. It might however be the case that some sites tends to more accurately reflect the total output of the region, either in general or for certain wind directions. It will then be of interest giving these a greater influence over the group forecast. Bayesian model averaging (BMA) is a statistical post-processing method for producing probabilistic forecasts from ensembles. Raftery et al. [1] show how BMA can be used for statistical post processing of forecast ensembles, producing PDFs of future weather quantities. The BMA predictive PDF of a future weather quantity is a weighted average of the ensemble members' PDFs, where the weights can be interpreted as posterior probabilities and reflect the ensemble members' contribution to overall forecasting skill over a training period. In Revheim and Beyer [2] the BMA procedure used in Sloughter, Gneiting and Raftery [3] were found to produce fairly accurate PDFs for the future mean wind speed of a group of sites from the single sites wind speeds. However, when the procedure was attempted applied to wind power it resulted in either problems with the estimation of the parameters (mainly caused by longer consecutive periods of no power production) or severe underestimation (mainly caused by problems with reflecting the power curve). In this paper the problems that arose when applying BMA to wind power forecasting is met through two strategies. First, the BMA procedure is run with a combination of single site wind speeds and single site wind power production as input. This solves the problem with longer consecutive periods where the input data

An Optimization of Inventory Demand Forecasting in University Healthcare Centre

Science.gov (United States)

Bon, A. T.; Ng, T. K.

2017-01-01

Healthcare industry becomes an important field for human beings nowadays as it concerns about one’s health. With that, forecasting demand for health services is an important step in managerial decision making for all healthcare organizations. Hence, a case study was conducted in University Health Centre to collect historical demand data of Panadol 650mg for 68 months from January 2009 until August 2014. The aim of the research is to optimize the overall inventory demand through forecasting techniques. Quantitative forecasting or time series forecasting model was used in the case study to forecast future data as a function of past data. Furthermore, the data pattern needs to be identified first before applying the forecasting techniques. Trend is the data pattern and then ten forecasting techniques are applied using Risk Simulator Software. Lastly, the best forecasting techniques will be find out with the least forecasting error. Among the ten forecasting techniques include single moving average, single exponential smoothing, double moving average, double exponential smoothing, regression, Holt-Winter’s additive, Seasonal additive, Holt-Winter’s multiplicative, seasonal multiplicative and Autoregressive Integrated Moving Average (ARIMA). According to the forecasting accuracy measurement, the best forecasting technique is regression analysis.

Future intensification of hydro-meteorological extremes: downscaling using the weather research and forecasting model

KAUST Repository

El-Samra, R.

2017-02-15

A set of ten downscaling simulations at high spatial resolution (3 km horizontally) were performed using the Weather Research and Forecasting (WRF) model to generate future climate projections of annual and seasonal temperature and precipitation changes over the Eastern Mediterranean (with a focus on Lebanon). The model was driven with the High Resolution Atmospheric Model (HiRAM), running over the whole globe at a resolution of 25 km, under the conditions of two Representative Concentration Pathways (RCP) (4.5 and 8.5). Each downscaling simulation spanned one year. Two past years (2003 and 2008), also forced by HiRAM without data assimilation, were simulated to evaluate the model’s ability to capture the cold and wet (2003) and hot and dry (2008) extremes. The downscaled data were in the range of recent observed climatic variability, and therefore corrected for the cold bias of HiRAM. Eight future years were then selected based on an anomaly score that relies on the mean annual temperature and accumulated precipitation to identify the worst year per decade from a water resources perspective. One hot and dry year per decade, from 2011 to 2050, and per scenario was simulated and compared to the historic 2008 reference. The results indicate that hot and dry future extreme years will be exacerbated and the study area might be exposed to a significant decrease in annual precipitation (rain and snow), reaching up to 30% relative to the current extreme conditions.

Fast, Flexible, and Digital: Forecasts for Occupational and Workplace Education.

Science.gov (United States)

Ausburn, Lynna J.

2002-01-01

Three Delphi panels of occupational educators (n=16, 9, 12) forecast scenarios for the future of workplace education, which were compared with results of a literature review. Results indicated increasing alignment of practitioners' forecasts for dramatically transformed workplace education with major trends identified in the literature. (Contains…

Modeling and Forecasting the Distribution of Energy Forward Returns - Evidence from the Nordic Power Exchange

DEFF Research Database (Denmark)

Lunde, Asger; Olesen, Kasper Vinther

We explore intraday transaction records from NASDAQ OMX Commodities Europe from January 2006 to October 2013. We analyze empirical results for a selection of existing realized measures of volatility and incorporate them in a Realized GARCH framework for the joint modeling of returns and realized...... variances over time, which stresses the importance of careful modeling and forecasting of volatility. We show that improved model fit can be obtained in-sample by utilizing high-frequency data compared to standard models that use only daily observations. Additionally, we show that the intraday sampling...

Future wind power forecast errors, need for regulating power, and costs in the Swedish system

Energy Technology Data Exchange (ETDEWEB)

Carlsson, Fredrik [Vattenfall Research and Development AB, Stockholm (Sweden). Power Technology

2011-07-01

Wind power is one of the renewable energy sources in the electricity system that grows most rapid in Sweden. There are however two market challenges that need to be addressed with a higher proportion of wind power - that is variability and predictability. Predictability is important since the spot market Nord Pool Spot requires forecasts of production 12 - 36 hours ahead. The forecast errors must be regulated with regulating power, which is expensive for the actors causing the forecast errors. This paper has investigated a number of scenarios with 10 - 55 TWh of wind power installed in the Swedish system. The focus has been on a base scenario with 10 TWh new wind power consisting of 3,5 GW new wind power and 1,5 GW already installed power, which gives 5 GW. The results show that the costs for the forecast errors will increase as more intermittent production is installed. However, the increase can be limited by for instance trading on intraday market or increase quality of forecasts. (orig.)

Results of the Regional Earthquake Likelihood Models (RELM) test of earthquake forecasts in California.

Science.gov (United States)

Lee, Ya-Ting; Turcotte, Donald L; Holliday, James R; Sachs, Michael K; Rundle, John B; Chen, Chien-Chih; Tiampo, Kristy F

2011-10-04

The Regional Earthquake Likelihood Models (RELM) test of earthquake forecasts in California was the first competitive evaluation of forecasts of future earthquake occurrence. Participants submitted expected probabilities of occurrence of M ≥ 4.95 earthquakes in 0.1° × 0.1° cells for the period 1 January 1, 2006, to December 31, 2010. Probabilities were submitted for 7,682 cells in California and adjacent regions. During this period, 31 M ≥ 4.95 earthquakes occurred in the test region. These earthquakes occurred in 22 test cells. This seismic activity was dominated by earthquakes associated with the M = 7.2, April 4, 2010, El Mayor-Cucapah earthquake in northern Mexico. This earthquake occurred in the test region, and 16 of the other 30 earthquakes in the test region could be associated with it. Nine complete forecasts were submitted by six participants. In this paper, we present the forecasts in a way that allows the reader to evaluate which forecast is the most "successful" in terms of the locations of future earthquakes. We conclude that the RELM test was a success and suggest ways in which the results can be used to improve future forecasts.

Forecasting reliability of transformer populations

NARCIS (Netherlands)

Schijndel, van A.; Wetzer, J.; Wouters, P.A.A.F.

2007-01-01

The expected replacement wave in the current power grid faces asset managers with challenging questions. Setting up a replacement strategy and planning calls for a forecast of the long term component reliability. For transformers the future failure probability can be predicted based on the ongoing

Forecasting oil price trends using wavelets and hidden Markov models

International Nuclear Information System (INIS)

Souza e Silva, Edmundo G. de; Souza e Silva, Edmundo A. de; Legey, Luiz F.L.

2010-01-01

The crude oil price is influenced by a great number of factors, most of which interact in very complex ways. For this reason, forecasting it through a fundamentalist approach is a difficult task. An alternative is to use time series methodologies, with which the price's past behavior is conveniently analyzed, and used to predict future movements. In this paper, we investigate the usefulness of a nonlinear time series model, known as hidden Markov model (HMM), to predict future crude oil price movements. Using an HMM, we develop a forecasting methodology that consists of, basically, three steps. First, we employ wavelet analysis to remove high frequency price movements, which can be assumed as noise. Then, the HMM is used to forecast the probability distribution of the price return accumulated over the next F days. Finally, from this distribution, we infer future price trends. Our results indicate that the proposed methodology might be a useful decision support tool for agents participating in the crude oil market. (author)

Foreign currency rate forecasting using neural networks

Science.gov (United States)

Pandya, Abhijit S.; Kondo, Tadashi; Talati, Amit; Jayadevappa, Suryaprasad

2000-03-01

Neural networks are increasingly being used as a forecasting tool in many forecasting problems. This paper discusses the application of neural networks in predicting daily foreign exchange rates between the USD, GBP as well as DEM. We approach the problem from a time-series analysis framework - where future exchange rates are forecasted solely using past exchange rates. This relies on the belief that the past prices and future prices are very close related, and interdependent. We present the result of training a neural network with historical USD-GBP data. The methodology used in explained, as well as the training process. We discuss the selection of inputs to the network, and present a comparison of using the actual exchange rates and the exchange rate differences as inputs. Price and rate differences are the preferred way of training neural network in financial applications. Results of both approaches are present together for comparison. We show that the network is able to learn the trends in the exchange rate movements correctly, and present the results of the prediction over several periods of time.

China's soaring vehicle population: Even greater than forecasted?

International Nuclear Information System (INIS)

Wang Yunshi; Teter, Jacob; Sperling, Daniel

2011-01-01

China's vehicle population is widely forecasted to grow 6-11% per year into the foreseeable future. Barring aggressive policy intervention or a collapse of the Chinese economy, we suggest that those forecasts are conservative. We analyze the historical vehicle growth patterns of seven of the largest vehicle producing countries at comparable times in their motorization history. We estimate vehicle growth rates for this analogous group of countries to have 13-17% per year-roughly twice the rate forecasted for China by others. Applying these higher growth rates to China results in the total vehicle fleet reaching considerably higher volumes than forecasted by others, implying far higher global oil use and carbon emissions than projected by the International Energy Agency and others. - Highlights: → We use large, car-producing countries as models in forecasting vehicle ownership in China. → We find that vehicle growth rates in China could be twice as high as forecasted by others (including IEA). → Motorization is occurring quickly across all regions in China, not just the richer coastal areas.

Gold sales forecasting: The Box-Jenkins methodology

Directory of Open Access Journals (Sweden)

Johannes Tshepiso Tsoku

2017-02-01

Full Text Available The study employs the Box-Jenkins Methodology to forecast South African gold sales. For a resource economy like South Africa where metals and minerals account for a high proportion of GDP and export earnings, the decline in gold sales is very disturbing. Box-Jenkins time series technique was used to perform time series analysis of monthly gold sales for the period January 2000 to June 2013 with the following steps: model identification, model estimation, diagnostic checking and forecasting. Furthermore, the prediction accuracy is tested using mean absolute percentage error (MAPE. From the analysis, a seasonal ARIMA(4,1,4×(0,1,112 was found to be the “best fit model” with an MAPE value of 11% indicating that the model is fit to be used to predict or forecast future gold sales for South Africa. In addition, the forecast values show that there will be a decrease in the overall gold sales for the first six months of 2014. It is hoped that the study will help the public and private sectors to understand the gold sales or output scenario and later plan the gold mining activities in South Africa. Furthermore, it is hoped that this research paper has demonstrated the significance of Box-Jenkins technique for this area of research and that they will be applied in the future.

Realization theory for rational systems: Minimal rational realizations

NARCIS (Netherlands)

J. Nemcová (Jana); J.H. van Schuppen (Jan)

2010-01-01

htmlabstractThe study of realizations of response maps is a topic of control and system theory. Realization theory is used in system identification and control synthesis. A minimal rational realization of a given response map p is a rational realization of p such that the dimension of its state

Canadian nuclear power plant construction cost forecast and analysis

International Nuclear Information System (INIS)

Keng, C.W.K.

1985-01-01

Because of the huge volume of capital required to construct a modern electric power generating station, investment decisions have to be made with as complete an understanding of the consequence of the decision as possible. This understanding must be provided by the evaluation of the situation to take place in the future. This paper attempts to use an econometric method to forecast the construction costs escalation of a standard Canadian nuclear generating station (NGS). A review of the history of Canadian nuclear electric power is provided. The major components of the construction costs of a Canadian NGS are studied and summarized. A data base is built and indexes are prepared. Based on these indexes an econometric forecasting model is constructed using an apparently new econometric methodology of forecasting modelling. Forecasts for a period of forty years are generated and applications of alternative scenario forecasts and range forecasts to uncertainty assessment are demonstrated. The indexes, the model, and the forecasts and their applications, to the best of the author's knowledge, are the very first ever done for Canadian NGS constructions

House Price Forecasts, Forecaster Herding, and the Recent Crisis

DEFF Research Database (Denmark)

Stadtmann, Georg; Pierdzioch; Ruelke

2013-01-01

We used the Wall Street Journal survey data for the period 2006–2012 to analyze whether forecasts of house prices and housing starts provide evidence of (anti-)herding of forecasters. Forecasts are consistent with herding (anti-herding) of forecasters if forecasts are biased towards (away from) t......) the consensus forecast. We found that anti-herding is prevalent among forecasters of house prices. We also report that, following the recent crisis, the prevalence of forecaster anti-herding seems to have changed over time....

Operational hydrological forecasting in Bavaria. Part II: Ensemble forecasting

Science.gov (United States)

Ehret, U.; Vogelbacher, A.; Moritz, K.; Laurent, S.; Meyer, I.; Haag, I.

2009-04-01

In part I of this study, the operational flood forecasting system in Bavaria and an approach to identify and quantify forecast uncertainty was introduced. The approach is split into the calculation of an empirical 'overall error' from archived forecasts and the calculation of an empirical 'model error' based on hydrometeorological forecast tests, where rainfall observations were used instead of forecasts. The 'model error' can especially in upstream catchments where forecast uncertainty is strongly dependent on the current predictability of the atrmosphere be superimposed on the spread of a hydrometeorological ensemble forecast. In Bavaria, two meteorological ensemble prediction systems are currently tested for operational use: the 16-member COSMO-LEPS forecast and a poor man's ensemble composed of DWD GME, DWD Cosmo-EU, NCEP GFS, Aladin-Austria, MeteoSwiss Cosmo-7. The determination of the overall forecast uncertainty is dependent on the catchment characteristics: 1. Upstream catchment with high influence of weather forecast a) A hydrological ensemble forecast is calculated using each of the meteorological forecast members as forcing. b) Corresponding to the characteristics of the meteorological ensemble forecast, each resulting forecast hydrograph can be regarded as equally likely. c) The 'model error' distribution, with parameters dependent on hydrological case and lead time, is added to each forecast timestep of each ensemble member d) For each forecast timestep, the overall (i.e. over all 'model error' distribution of each ensemble member) error distribution is calculated e) From this distribution, the uncertainty range on a desired level (here: the 10% and 90% percentile) is extracted and drawn as forecast envelope. f) As the mean or median of an ensemble forecast does not necessarily exhibit meteorologically sound temporal evolution, a single hydrological forecast termed 'lead forecast' is chosen and shown in addition to the uncertainty bounds. This can be

Ten-year operational dust forecasting - Recent model development and future plans

International Nuclear Information System (INIS)

Kallos, G; Spyrou, C; Astitha, M; Mitsakou, C; Solomos, S; Kushta, J; Pytharoulis, I; Katsafados, P; Mavromatidis, E; Papantoniou, N; Vlastou, G

2009-01-01

The Sahara desert is one of the major sources of mineral dust on Earth, producing up to 2x10 8 t yr- 1 . A combined effort has been devoted during the last ten years at the University of Athens (UOA) from the Atmospheric Modeling and Weather Forecasting Group (AM and WFG) to the development of an analysis and forecasting tool that will provide early warning of Saharan dust outbreaks. The developed tool is the SKIRON limited-area forecasting system, based on the Eta limited area modeling system with embedded algorithms describing the dust cycle. A new version of the model is currently available, with extra features like eight-size particle bins, radiative transfer corrections, new dust source identification and utilization of rocky soil characterization and incorporation of more accurate deposition schemes. The new version of SKIRON modeling system is coupled with the photochemical model CAMx in order to study processes like the shading effect of dust particles on photochemical processes and the production of second and third generation of aerosols. Moreover, another new development in the AM and WFG is based on the RAMS model, with the incorporation of processes like dust and sea-salt production, gas and aqueous phase chemistry and particle formation. In this study, the major characteristics of the developed (and under development) modeling systems are presented, as well as the spatiotemporal distribution of the transported dust amounts, the interaction with anthropogenically-produced particles and the potential implications on radiative transfer.

Ten-year operational dust forecasting - Recent model development and future plans

Energy Technology Data Exchange (ETDEWEB)

Kallos, G; Spyrou, C; Astitha, M; Mitsakou, C; Solomos, S; Kushta, J; Pytharoulis, I; Katsafados, P; Mavromatidis, E; Papantoniou, N; Vlastou, G [University of Athens, School of Physics, Atmospheric Modeling and Weather Forecasting Group - UOA/AM and WFG, University Campus, Bldg. PHYS-V, Athens 15784 (Greece)], E-mail: kallos@mg.uoa.gr

2009-03-01

The Sahara desert is one of the major sources of mineral dust on Earth, producing up to 2x10{sup 8} t yr-{sup 1}. A combined effort has been devoted during the last ten years at the University of Athens (UOA) from the Atmospheric Modeling and Weather Forecasting Group (AM and WFG) to the development of an analysis and forecasting tool that will provide early warning of Saharan dust outbreaks. The developed tool is the SKIRON limited-area forecasting system, based on the Eta limited area modeling system with embedded algorithms describing the dust cycle. A new version of the model is currently available, with extra features like eight-size particle bins, radiative transfer corrections, new dust source identification and utilization of rocky soil characterization and incorporation of more accurate deposition schemes. The new version of SKIRON modeling system is coupled with the photochemical model CAMx in order to study processes like the shading effect of dust particles on photochemical processes and the production of second and third generation of aerosols. Moreover, another new development in the AM and WFG is based on the RAMS model, with the incorporation of processes like dust and sea-salt production, gas and aqueous phase chemistry and particle formation. In this study, the major characteristics of the developed (and under development) modeling systems are presented, as well as the spatiotemporal distribution of the transported dust amounts, the interaction with anthropogenically-produced particles and the potential implications on radiative transfer.

Short-Term State Forecasting-Based Optimal Voltage Regulation in Distribution Systems: Preprint

Energy Technology Data Exchange (ETDEWEB)

Yang, Rui; Jiang, Huaiguang; Zhang, Yingchen

2017-05-17

A novel short-term state forecasting-based optimal power flow (OPF) approach for distribution system voltage regulation is proposed in this paper. An extreme learning machine (ELM) based state forecaster is developed to accurately predict system states (voltage magnitudes and angles) in the near future. Based on the forecast system states, a dynamically weighted three-phase AC OPF problem is formulated to minimize the voltage violations with higher penalization on buses which are forecast to have higher voltage violations in the near future. By solving the proposed OPF problem, the controllable resources in the system are optimally coordinated to alleviate the potential severe voltage violations and improve the overall voltage profile. The proposed approach has been tested in a 12-bus distribution system and simulation results are presented to demonstrate the performance of the proposed approach.

House Price Forecasts, Forecaster Herding, and the Recent Crisis

Directory of Open Access Journals (Sweden)

Christian Pierdzioch

2012-11-01

Full Text Available We used the Wall Street Journal survey data for the period 2006–2012 to analyze whether forecasts of house prices and housing starts provide evidence of (anti-herding of forecasters. Forecasts are consistent with herding (anti-herding of forecasters if forecasts are biased towards (away from the consensus forecast. We found that anti-herding is prevalent among forecasters of house prices. We also report that, following the recent crisis, the prevalence of forecaster anti-herding seems to have changed over time.

Forecasting biodiversity in breeding birds using best practices

Science.gov (United States)

Taylor, Shawn D.; White, Ethan P.

2018-01-01

Biodiversity forecasts are important for conservation, management, and evaluating how well current models characterize natural systems. While the number of forecasts for biodiversity is increasing, there is little information available on how well these forecasts work. Most biodiversity forecasts are not evaluated to determine how well they predict future diversity, fail to account for uncertainty, and do not use time-series data that captures the actual dynamics being studied. We addressed these limitations by using best practices to explore our ability to forecast the species richness of breeding birds in North America. We used hindcasting to evaluate six different modeling approaches for predicting richness. Hindcasts for each method were evaluated annually for a decade at 1,237 sites distributed throughout the continental United States. All models explained more than 50% of the variance in richness, but none of them consistently outperformed a baseline model that predicted constant richness at each site. The best practices implemented in this study directly influenced the forecasts and evaluations. Stacked species distribution models and “naive” forecasts produced poor estimates of uncertainty and accounting for this resulted in these models dropping in the relative performance compared to other models. Accounting for observer effects improved model performance overall, but also changed the rank ordering of models because it did not improve the accuracy of the “naive” model. Considering the forecast horizon revealed that the prediction accuracy decreased across all models as the time horizon of the forecast increased. To facilitate the rapid improvement of biodiversity forecasts, we emphasize the value of specific best practices in making forecasts and evaluating forecasting methods. PMID:29441230

Forecasting biodiversity in breeding birds using best practices

Directory of Open Access Journals (Sweden)

David J. Harris

2018-02-01

Full Text Available Biodiversity forecasts are important for conservation, management, and evaluating how well current models characterize natural systems. While the number of forecasts for biodiversity is increasing, there is little information available on how well these forecasts work. Most biodiversity forecasts are not evaluated to determine how well they predict future diversity, fail to account for uncertainty, and do not use time-series data that captures the actual dynamics being studied. We addressed these limitations by using best practices to explore our ability to forecast the species richness of breeding birds in North America. We used hindcasting to evaluate six different modeling approaches for predicting richness. Hindcasts for each method were evaluated annually for a decade at 1,237 sites distributed throughout the continental United States. All models explained more than 50% of the variance in richness, but none of them consistently outperformed a baseline model that predicted constant richness at each site. The best practices implemented in this study directly influenced the forecasts and evaluations. Stacked species distribution models and “naive” forecasts produced poor estimates of uncertainty and accounting for this resulted in these models dropping in the relative performance compared to other models. Accounting for observer effects improved model performance overall, but also changed the rank ordering of models because it did not improve the accuracy of the “naive” model. Considering the forecast horizon revealed that the prediction accuracy decreased across all models as the time horizon of the forecast increased. To facilitate the rapid improvement of biodiversity forecasts, we emphasize the value of specific best practices in making forecasts and evaluating forecasting methods.

TradeWind Deliverable 2.2: Forecast error of aggregated wind power

DEFF Research Database (Denmark)

Giebel, Gregor; Sørensen, Poul Ejnar; Holttinen, Hannele

2007-01-01

Estimates of forecast error of aggregated production for time horizons of intraday and dayahead markets in future will be produced. This will be done by reference to published studies of forecasting for wind generation, and from internal knowledge of WP2 participants. Modelling of wind power fluctuations...

Athabasca, Cold Lake and the future

International Nuclear Information System (INIS)

McFarland, J.D.

1993-01-01

It is suggested that Alberta oil sands have the potential to sustain and increase the wealth creation capacity of the Canadian petroleum sector now and well into the next century. Realizing this potential in the present-day competitive and interconnected world crude oil market is a challenge to be addressed in four areas: markets, operations, technology, and stakeholder support. Real price improvement in the world oil market is not expected in the near future, given near-static demand and a continuously increasing worldwide supply potential. Even in such a market, there are specialized niches where Canadian heavy oil should be competitive. These markets are continental and are mainly high- and medium-conversion refineries and upgraders. Demand for Canadian heavy oil is forecast to grow ca 4%/y to over 800,000 bbl/d by 2000. Supply will closely track demand 1995-98 and be slightly below demand before 1995 and after 1998. Improvements in existing operations to lower production costs and increase efficiency are being made at the Cold Lake and Syncrude facilities. The development of technology to improve recovery and lower supply costs will trigger further development, and impressive gains have already been realized as a result from ongoing research. The final condition needed to allow the oil sand sector to realize its potential is informed and supportive stakeholders (investors, customers, governments, and communities), who need to understand the unique attributes and potential awards of the oil sand business. 6 figs

Predictive Uncertainty Estimation in Water Demand Forecasting Using the Model Conditional Processor

Directory of Open Access Journals (Sweden)

Amos O. Anele

2018-04-01

Full Text Available In a previous paper, a number of potential models for short-term water demand (STWD prediction have been analysed to find the ones with the best fit. The results obtained in Anele et al. (2017 showed that hybrid models may be considered as the accurate and appropriate forecasting models for STWD prediction. However, such best single valued forecast does not guarantee reliable and robust decisions, which can be properly obtained via model uncertainty processors (MUPs. MUPs provide an estimate of the full predictive densities and not only the single valued expected prediction. Amongst other MUPs, the purpose of this paper is to use the multi-variate version of the model conditional processor (MCP, proposed by Todini (2008, to demonstrate how the estimation of the predictive probability conditional to a number of relatively good predictive models may improve our knowledge, thus reducing the predictive uncertainty (PU when forecasting into the unknown future. Through the MCP approach, the probability distribution of the future water demand can be assessed depending on the forecast provided by one or more deterministic forecasting models. Based on an average weekly data of 168 h, the probability density of the future demand is built conditional on three models’ predictions, namely the autoregressive-moving average (ARMA, feed-forward back propagation neural network (FFBP-NN and hybrid model (i.e., combined forecast from ARMA and FFBP-NN. The results obtained show that MCP may be effectively used for real-time STWD prediction since it brings out the PU connected to its forecast, and such information could help water utilities estimate the risk connected to a decision.

Forecasting of particulate matter time series using wavelet analysis and wavelet-ARMA/ARIMA model in Taiyuan, China.

Science.gov (United States)

Zhang, Hong; Zhang, Sheng; Wang, Ping; Qin, Yuzhe; Wang, Huifeng

2017-07-01

Particulate matter with aerodynamic diameter below 10 μm (PM 10 ) forecasting is difficult because of the uncertainties in describing the emission and meteorological fields. This paper proposed a wavelet-ARMA/ARIMA model to forecast the short-term series of the PM 10 concentrations. It was evaluated by experiments using a 10-year data set of daily PM 10 concentrations from 4 stations located in Taiyuan, China. The results indicated the following: (1) PM 10 concentrations of Taiyuan had a decreasing trend during 2005 to 2012 but increased in 2013. PM 10 concentrations had an obvious seasonal fluctuation related to coal-fired heating in winter and early spring. (2) Spatial differences among the four stations showed that the PM 10 concentrations in industrial and heavily trafficked areas were higher than those in residential and suburb areas. (3) Wavelet analysis revealed that the trend variation and the changes of the PM 10 concentration of Taiyuan were complicated. (4) The proposed wavelet-ARIMA model could be efficiently and successfully applied to the PM 10 forecasting field. Compared with the traditional ARMA/ARIMA methods, this wavelet-ARMA/ARIMA method could effectively reduce the forecasting error, improve the prediction accuracy, and realize multiple-time-scale prediction. Wavelet analysis can filter noisy signals and identify the variation trend and the fluctuation of the PM 10 time-series data. Wavelet decomposition and reconstruction reduce the nonstationarity of the PM 10 time-series data, and thus improve the accuracy of the prediction. This paper proposed a wavelet-ARMA/ARIMA model to forecast the PM 10 time series. Compared with the traditional ARMA/ARIMA method, this wavelet-ARMA/ARIMA method could effectively reduce the forecasting error, improve the prediction accuracy, and realize multiple-time-scale prediction. The proposed model could be efficiently and successfully applied to the PM 10 forecasting field.

Development of a forecast model for global air traffic emissions

Energy Technology Data Exchange (ETDEWEB)

Schaefer, Martin

2012-07-01

The thesis describes the methodology and results of a simulation model that quantifies fuel consumption and emissions of civil air traffic. Besides covering historical emissions, the model aims at forecasting emissions in the medium-term future. For this purpose, simulation models of aircraft and engine types are used in combination with a database of global flight movements and assumptions about traffic growth, fleet rollover and operational aspects. Results from an application of the model include emissions of scheduled air traffic for the years 2000 to 2010 as well as forecasted emissions until the year 2030. In a baseline scenario of the forecast, input assumptions (e.g. traffic growth rates) are in line with predictions by the aircraft industry. Considering the effects of advanced technologies of the short-term and medium-term future, the forecast focusses on fuel consumption and emissions of nitric oxides. Calculations for historical air traffic additionally cover emissions of carbon monoxide, unburned hydrocarbons and soot. Results are validated against reference data including studies by the International Civil Aviation Organization (ICAO) and simulation results from international research projects. (orig.)

Modeling and forecasting exchange rate volatility in time-frequency domain

Czech Academy of Sciences Publication Activity Database

Baruník, Jozef; Křehlík, Tomáš; Vácha, Lukáš

2016-01-01

Roč. 251, č. 1 (2016), s. 329-340 ISSN 0377-2217 R&D Projects: GA ČR GA13-32263S EU Projects: European Commission 612955 - FINMAP Institutional support: RVO:67985556 Keywords : Realized GARCH * Wavelet decomposition * Jumps * Multi-period-ahead volatility forecasting Subject RIV: AH - Economics Impact factor: 3.297, year: 2016 http://library.utia.cas.cz/separaty/2016/E/barunik-0456184.pdf

Global-warming forecasting models

International Nuclear Information System (INIS)

Moeller, K.P.

1992-01-01

In spite of an annual man-made quantity of about 20 billion tons, carbon dioxide has remained a trace gas in the atmosphere (350 ppm at present). The reliability of model calculations which forecast temperatures is dicussed in view of the world-wide increase in carbon dioxides. Computer simulations reveal a general, serious threat to the future of mankind. (DG) [de

An overview of wind power forecast types and their use in large-scale integration of wind power

Energy Technology Data Exchange (ETDEWEB)

Nielsen, Henrik Aalborg; Nielsen, Torben Skov [ENFOR A/S, Horslholm (Denmark); Madsen, Henrik [Technical Univ. of Denmark, Lyngby (Denmark). Informatics and Mathematical Modelling

2011-07-01

Wind power forecast characteristics are described and it is shown how analyses of actual decision problems can be used to derive the forecast characteristics important in a given situation. Generally, characteristics related to resolution in space and time, together with the required maximal forecast horizon are easily identified. However, identification of forecast characteristics required for optimal decision support requires a more thorough investigation, which is illustrated by examples. Generally, quantile forecasts of the future wind power production are required, but the transformation of a quantile forecast into an actual decisions is highly dependent on the precise formulation of the decision problem. Furthermore, when consequences of neighbouring time steps interact, quantile forecasts are not sufficient. It is argued that a general solution in such cases is to base the decision on reliable scenarios of the future wind power production. (orig.)

Remote-sensing based approach to forecast habitat quality under climate change scenarios.

Directory of Open Access Journals (Sweden)

Juan M Requena-Mullor

Full Text Available As climate change is expected to have a significant impact on species distributions, there is an urgent challenge to provide reliable information to guide conservation biodiversity policies. In addressing this challenge, we propose a remote sensing-based approach to forecast the future habitat quality for European badger, a species not abundant and at risk of local extinction in the arid environments of southeastern Spain, by incorporating environmental variables related with the ecosystem functioning and correlated with climate and land use. Using ensemble prediction methods, we designed global spatial distribution models for the distribution range of badger using presence-only data and climate variables. Then, we constructed regional models for an arid region in the southeast Spain using EVI (Enhanced Vegetation Index derived variables and weighting the pseudo-absences with the global model projections applied to this region. Finally, we forecast the badger potential spatial distribution in the time period 2071-2099 based on IPCC scenarios incorporating the uncertainty derived from the predicted values of EVI-derived variables. By including remotely sensed descriptors of the temporal dynamics and spatial patterns of ecosystem functioning into spatial distribution models, results suggest that future forecast is less favorable for European badgers than not including them. In addition, change in spatial pattern of habitat suitability may become higher than when forecasts are based just on climate variables. Since the validity of future forecast only based on climate variables is currently questioned, conservation policies supported by such information could have a biased vision and overestimate or underestimate the potential changes in species distribution derived from climate change. The incorporation of ecosystem functional attributes derived from remote sensing in the modeling of future forecast may contribute to the improvement of the

Future mission studies: Forecasting solar flux directly from its chaotic time series

Science.gov (United States)

Ashrafi, S.

1991-01-01

The mathematical structure of the programs written to construct a nonlinear predictive model to forecast solar flux directly from its time series without reference to any underlying solar physics is presented. This method and the programs are written so that one could apply the same technique to forecast other chaotic time series, such as geomagnetic data, attitude and orbit data, and even financial indexes and stock market data. Perhaps the most important application of this technique to flight dynamics is to model Goddard Trajectory Determination System (GTDS) output of residues between observed position of spacecraft and calculated position with no drag (drag flag = off). This would result in a new model of drag working directly from observed data.

The Variance-covariance Method using IOWGA Operator for Tourism Forecast Combination

Directory of Open Access Journals (Sweden)

Liangping Wu

2014-08-01

Full Text Available Three combination methods commonly used in tourism forecasting are the simple average method, the variance-covariance method and the discounted MSFE method. These methods assign the different weights that can not change at each time point to each individual forecasting model. In this study, we introduce the IOWGA operator combination method which can overcome the defect of previous three combination methods into tourism forecasting. Moreover, we further investigate the performance of the four combination methods through the theoretical evaluation and the forecasting evaluation. The results of the theoretical evaluation show that the IOWGA operator combination method obtains extremely well performance and outperforms the other forecast combination methods. Furthermore, the IOWGA operator combination method can be of well forecast performance and performs almost the same to the variance-covariance combination method for the forecasting evaluation. The IOWGA operator combination method mainly reflects the maximization of improving forecasting accuracy and the variance-covariance combination method mainly reflects the decrease of the forecast error. For future research, it may be worthwhile introducing and examining other new combination methods that may improve forecasting accuracy or employing other techniques to control the time for updating the weights in combined forecasts.

On the Modelling and Forecasting of Multivariate Realized Volatility: Generalized Heterogeneous Autoregressive (GHAR) Model

Czech Academy of Sciences Publication Activity Database

Čech, František; Baruník, Jozef

2017-01-01

Roč. 36, č. 1 (2017), s. 181-206 ISSN 0277-6693 R&D Projects: GA ČR GA13-32263S Institutional support: RVO:67985556 Keywords : Multivariate volatility * realized covariance * portfolio optimisation Subject RIV: AH - Economic s OBOR OECD: Economic Theory Impact factor: 0.747, year: 2016 http://library.utia.cas.cz/separaty/2017/E/barunik-0478479.pdf

Net load forecasting for high renewable energy penetration grids

International Nuclear Information System (INIS)

Kaur, Amanpreet; Nonnenmacher, Lukas; Coimbra, Carlos F.M.

2016-01-01

We discuss methods for net load forecasting and their significance for operation and management of power grids with high renewable energy penetration. Net load forecasting is an enabling technology for the integration of microgrid fleets with the macrogrid. Net load represents the load that is traded between the grids (microgrid and utility grid). It is important for resource allocation and electricity market participation at the point of common coupling between the interconnected grids. We compare two inherently different approaches: additive and integrated net load forecast models. The proposed methodologies are validated on a microgrid with 33% annual renewable energy (solar) penetration. A heuristics based solar forecasting technique is proposed, achieving skill of 24.20%. The integrated solar and load forecasting model outperforms the additive model by 10.69% and the uncertainty range for the additive model is larger than the integrated model by 2.2%. Thus, for grid applications an integrated forecast model is recommended. We find that the net load forecast errors and the solar forecasting errors are cointegrated with a common stochastic drift. This is useful for future planning and modeling because the solar energy time-series allows to infer important features of the net load time-series, such as expected variability and uncertainty. - Highlights: • Net load forecasting methods for grids with renewable energy generation are discussed. • Integrated solar and load forecasting outperforms the additive model by 10.69%. • Net load forecasting reduces the uncertainty between the interconnected grids.

Power plant asset market evaluations: Forecasting the costs of power production

Energy Technology Data Exchange (ETDEWEB)

Lefton, S A; Grunsrud, G P [Aptech Engineering Services, Inc., Sunnyvale, CA (United States)

1999-12-31

This presentation discusses the process of evaluating and valuing power plants for sale. It describes a method to forecast the future costs at a power plant using a portion of the past fixed costs, variable energy costs, and most importantly the variable cycling-related wear-and-tear costs. The presentation then discusses how to best determine market share, expected revenues, and then to forecast plant future costs based on future expected unit cycling operations. The presentation concludes with a section on recommendations to power plant buyers or sellers on how to manage the power plant asset and how to increase its market value. (orig.) 4 refs.

Power plant asset market evaluations: Forecasting the costs of power production

Energy Technology Data Exchange (ETDEWEB)

Lefton, S.A.; Grunsrud, G.P. [Aptech Engineering Services, Inc., Sunnyvale, CA (United States)

1998-12-31

This presentation discusses the process of evaluating and valuing power plants for sale. It describes a method to forecast the future costs at a power plant using a portion of the past fixed costs, variable energy costs, and most importantly the variable cycling-related wear-and-tear costs. The presentation then discusses how to best determine market share, expected revenues, and then to forecast plant future costs based on future expected unit cycling operations. The presentation concludes with a section on recommendations to power plant buyers or sellers on how to manage the power plant asset and how to increase its market value. (orig.) 4 refs.

Power plant asset market evaluations: Forecasting the costs of power production

International Nuclear Information System (INIS)

Lefton, S.A.; Grunsrud, G.P.

1998-01-01

This presentation discusses the process of evaluating and valuing power plants for sale. It describes a method to forecast the future costs at a power plant using a portion of the past fixed costs, variable energy costs, and most importantly the variable cycling-related wear-and-tear costs. The presentation then discusses how to best determine market share, expected revenues, and then to forecast plant future costs based on future expected unit cycling operations. The presentation concludes with a section on recommendations to power plant buyers or sellers on how to manage the power plant asset and how to increase its market value. (orig.) 4 refs

Modeling and forecasting natural gas demand in Bangladesh

International Nuclear Information System (INIS)

Wadud, Zia; Dey, Himadri S.; Kabir, Md. Ashfanoor; Khan, Shahidul I.

2011-01-01

Natural gas is the major indigenous source of energy in Bangladesh and accounts for almost one-half of all primary energy used in the country. Per capita and total energy use in Bangladesh is still very small, and it is important to understand how energy, and natural gas demand will evolve in the future. We develop a dynamic econometric model to understand the natural gas demand in Bangladesh, both in the national level, and also for a few sub-sectors. Our demand model shows large long run income elasticity - around 1.5 - for aggregate demand for natural gas. Forecasts into the future also show a larger demand in the future than predicted by various national and multilateral organizations. Even then, it is possible that our forecasts could still be at the lower end of the future energy demand. Price response was statistically not different from zero, indicating that prices are possibly too low and that there is a large suppressed demand for natural gas in the country. - Highlights: → Natural gas demand is modeled using dynamic econometric methods, first of its kind in Bangladesh. → Income elasticity for aggregate natural gas demand in Bangladesh is large-around 1.5. → Demand is price insensitive, indicating too low prices and/or presence of large suppressed demand. → Demand forecasts reveal large divergence from previous estimates, which is important for planning. → Attempts to model demand for end-use sectors were successful only for the industrial sector.

Modeling and forecasting natural gas demand in Bangladesh

Energy Technology Data Exchange (ETDEWEB)

Wadud, Zia, E-mail: ziawadud@yahoo.com [Bangladesh University of Engineering and Technology (Bangladesh); Dey, Himadri S. [University of Notre Dame (United States); Kabir, Md. Ashfanoor; Khan, Shahidul I. [Bangladesh University of Engineering and Technology (Bangladesh)

2011-11-15

Natural gas is the major indigenous source of energy in Bangladesh and accounts for almost one-half of all primary energy used in the country. Per capita and total energy use in Bangladesh is still very small, and it is important to understand how energy, and natural gas demand will evolve in the future. We develop a dynamic econometric model to understand the natural gas demand in Bangladesh, both in the national level, and also for a few sub-sectors. Our demand model shows large long run income elasticity - around 1.5 - for aggregate demand for natural gas. Forecasts into the future also show a larger demand in the future than predicted by various national and multilateral organizations. Even then, it is possible that our forecasts could still be at the lower end of the future energy demand. Price response was statistically not different from zero, indicating that prices are possibly too low and that there is a large suppressed demand for natural gas in the country. - Highlights: > Natural gas demand is modeled using dynamic econometric methods, first of its kind in Bangladesh. > Income elasticity for aggregate natural gas demand in Bangladesh is large-around 1.5. > Demand is price insensitive, indicating too low prices and/or presence of large suppressed demand. > Demand forecasts reveal large divergence from previous estimates, which is important for planning. > Attempts to model demand for end-use sectors were successful only for the industrial sector.

Forecasting sagebrush ecosystem components and greater sage-grouse habitat for 2050: learning from past climate patterns and Landsat imagery to predict the future

Science.gov (United States)

Homer, Collin G.; Xian, George Z.; Aldridge, Cameron L.; Meyer, Debra K.; Loveland, Thomas R.; O'Donnell, Michael S.

2015-01-01

Sagebrush (Artemisia spp.) ecosystems constitute the largest single North American shrub ecosystem and provide vital ecological, hydrological, biological, agricultural, and recreational ecosystem services. Disturbances have altered and reduced this ecosystem historically, but climate change may ultimately represent the greatest future risk. Improved ways to quantify, monitor, and predict climate-driven gradual change in this ecosystem is vital to its future management. We examined the annual change of Daymet precipitation (daily gridded climate data) and five remote sensing ecosystem sagebrush vegetation and soil components (bare ground, herbaceous, litter, sagebrush, and shrub) from 1984 to 2011 in southwestern Wyoming. Bare ground displayed an increasing trend in abundance over time, and herbaceous, litter, shrub, and sagebrush showed a decreasing trend. Total precipitation amounts show a downward trend during the same period. We established statistically significant correlations between each sagebrush component and historical precipitation records using a simple least squares linear regression. Using the historical relationship between sagebrush component abundance and precipitation in a linear model, we forecasted the abundance of the sagebrush components in 2050 using Intergovernmental Panel on Climate Change (IPCC) precipitation scenarios A1B and A2. Bare ground was the only component that increased under both future scenarios, with a net increase of 48.98 km2 (1.1%) across the study area under the A1B scenario and 41.15 km2 (0.9%) under the A2 scenario. The remaining components decreased under both future scenarios: litter had the highest net reductions with 49.82 km2 (4.1%) under A1B and 50.8 km2 (4.2%) under A2, and herbaceous had the smallest net reductions with 39.95 km2 (3.8%) under A1B and 40.59 km2 (3.3%) under A2. We applied the 2050 forecast sagebrush component values to contemporary (circa 2006) greater sage-grouse (Centrocercus

Evaluating the Effectiveness of DART® Buoy Networks Based on Forecast Accuracy

Science.gov (United States)

Percival, Donald B.; Denbo, Donald W.; Gica, Edison; Huang, Paul Y.; Mofjeld, Harold O.; Spillane, Michael C.; Titov, Vasily V.

2018-03-01

A performance measure for a DART® tsunami buoy network has been developed. DART® buoys are used to detect tsunamis, but the full potential of the data they collect is realized through accurate forecasts of inundations caused by the tsunamis. The performance measure assesses how well the network achieves its full potential through a statistical analysis of simulated forecasts of wave amplitudes outside an impact site and a consideration of how much the forecasts are degraded in accuracy when one or more buoys are inoperative. The analysis uses simulated tsunami amplitude time series collected at each buoy from selected source segments in the Short-term Inundation Forecast for Tsunamis database and involves a set for 1000 forecasts for each buoy/segment pair at sites just offshore of selected impact communities. Random error-producing scatter in the time series is induced by uncertainties in the source location, addition of real oceanic noise, and imperfect tidal removal. Comparison with an error-free standard leads to root-mean-square errors (RMSEs) for DART® buoys located near a subduction zone. The RMSEs indicate which buoy provides the best forecast (lowest RMSE) for sections of the zone, under a warning-time constraint for the forecasts of 3 h. The analysis also shows how the forecasts are degraded (larger minimum RMSE among the remaining buoys) when one or more buoys become inoperative. The RMSEs provide a way to assess array augmentation or redesign such as moving buoys to more optimal locations. Examples are shown for buoys off the Aleutian Islands and off the West Coast of South America for impact sites at Hilo HI and along the US West Coast (Crescent City CA and Port San Luis CA, USA). A simple measure (coded green, yellow or red) of the current status of the network's ability to deliver accurate forecasts is proposed to flag the urgency of buoy repair.

Evaluating the Effectiveness of DART® Buoy Networks Based on Forecast Accuracy

Science.gov (United States)

Percival, Donald B.; Denbo, Donald W.; Gica, Edison; Huang, Paul Y.; Mofjeld, Harold O.; Spillane, Michael C.; Titov, Vasily V.

2018-04-01

A performance measure for a DART® tsunami buoy network has been developed. DART® buoys are used to detect tsunamis, but the full potential of the data they collect is realized through accurate forecasts of inundations caused by the tsunamis. The performance measure assesses how well the network achieves its full potential through a statistical analysis of simulated forecasts of wave amplitudes outside an impact site and a consideration of how much the forecasts are degraded in accuracy when one or more buoys are inoperative. The analysis uses simulated tsunami amplitude time series collected at each buoy from selected source segments in the Short-term Inundation Forecast for Tsunamis database and involves a set for 1000 forecasts for each buoy/segment pair at sites just offshore of selected impact communities. Random error-producing scatter in the time series is induced by uncertainties in the source location, addition of real oceanic noise, and imperfect tidal removal. Comparison with an error-free standard leads to root-mean-square errors (RMSEs) for DART® buoys located near a subduction zone. The RMSEs indicate which buoy provides the best forecast (lowest RMSE) for sections of the zone, under a warning-time constraint for the forecasts of 3 h. The analysis also shows how the forecasts are degraded (larger minimum RMSE among the remaining buoys) when one or more buoys become inoperative. The RMSEs provide a way to assess array augmentation or redesign such as moving buoys to more optimal locations. Examples are shown for buoys off the Aleutian Islands and off the West Coast of South America for impact sites at Hilo HI and along the US West Coast (Crescent City CA and Port San Luis CA, USA). A simple measure (coded green, yellow or red) of the current status of the network's ability to deliver accurate forecasts is proposed to flag the urgency of buoy repair.

Influenza forecasting with Google Flu Trends.

Science.gov (United States)

Dugas, Andrea Freyer; Jalalpour, Mehdi; Gel, Yulia; Levin, Scott; Torcaso, Fred; Igusa, Takeru; Rothman, Richard E

2013-01-01

We developed a practical influenza forecast model based on real-time, geographically focused, and easy to access data, designed to provide individual medical centers with advanced warning of the expected number of influenza cases, thus allowing for sufficient time to implement interventions. Secondly, we evaluated the effects of incorporating a real-time influenza surveillance system, Google Flu Trends, and meteorological and temporal information on forecast accuracy. Forecast models designed to predict one week in advance were developed from weekly counts of confirmed influenza cases over seven seasons (2004-2011) divided into seven training and out-of-sample verification sets. Forecasting procedures using classical Box-Jenkins, generalized linear models (GLM), and generalized linear autoregressive moving average (GARMA) methods were employed to develop the final model and assess the relative contribution of external variables such as, Google Flu Trends, meteorological data, and temporal information. A GARMA(3,0) forecast model with Negative Binomial distribution integrating Google Flu Trends information provided the most accurate influenza case predictions. The model, on the average, predicts weekly influenza cases during 7 out-of-sample outbreaks within 7 cases for 83% of estimates. Google Flu Trend data was the only source of external information to provide statistically significant forecast improvements over the base model in four of the seven out-of-sample verification sets. Overall, the p-value of adding this external information to the model is 0.0005. The other exogenous variables did not yield a statistically significant improvement in any of the verification sets. Integer-valued autoregression of influenza cases provides a strong base forecast model, which is enhanced by the addition of Google Flu Trends confirming the predictive capabilities of search query based syndromic surveillance. This accessible and flexible forecast model can be used by

Flood forecasting and uncertainty of precipitation forecasts

International Nuclear Information System (INIS)

Kobold, Mira; Suselj, Kay

2004-01-01

The timely and accurate flood forecasting is essential for the reliable flood warning. The effectiveness of flood warning is dependent on the forecast accuracy of certain physical parameters, such as the peak magnitude of the flood, its timing, location and duration. The conceptual rainfall - runoff models enable the estimation of these parameters and lead to useful operational forecasts. The accurate rainfall is the most important input into hydrological models. The input for the rainfall can be real time rain-gauges data, or weather radar data, or meteorological forecasted precipitation. The torrential nature of streams and fast runoff are characteristic for the most of the Slovenian rivers. Extensive damage is caused almost every year- by rainstorms affecting different regions of Slovenia' The lag time between rainfall and runoff is very short for Slovenian territory and on-line data are used only for now casting. Forecasted precipitations are necessary for hydrological forecast for some days ahead. ECMWF (European Centre for Medium-Range Weather Forecasts) gives general forecast for several days ahead while more detailed precipitation data with limited area ALADIN/Sl model are available for two days ahead. There is a certain degree of uncertainty using such precipitation forecasts based on meteorological models. The variability of precipitation is very high in Slovenia and the uncertainty of ECMWF predicted precipitation is very large for Slovenian territory. ECMWF model can predict precipitation events correctly, but underestimates amount of precipitation in general The average underestimation is about 60% for Slovenian region. The predictions of limited area ALADIN/Si model up to; 48 hours ahead show greater applicability in hydrological forecasting. The hydrological models are sensitive to precipitation input. The deviation of runoff is much bigger than the rainfall deviation. Runoff to rainfall error fraction is about 1.6. If spatial and time distribution

Bayesian quantitative precipitation forecasts in terms of quantiles

Science.gov (United States)

Bentzien, Sabrina; Friederichs, Petra

2014-05-01

Ensemble prediction systems (EPS) for numerical weather predictions on the mesoscale are particularly developed to obtain probabilistic guidance for high impact weather. An EPS not only issues a deterministic future state of the atmosphere but a sample of possible future states. Ensemble postprocessing then translates such a sample of forecasts into probabilistic measures. This study focus on probabilistic quantitative precipitation forecasts in terms of quantiles. Quantiles are particular suitable to describe precipitation at various locations, since no assumption is required on the distribution of precipitation. The focus is on the prediction during high-impact events and related to the Volkswagen Stiftung funded project WEX-MOP (Mesoscale Weather Extremes - Theory, Spatial Modeling and Prediction). Quantile forecasts are derived from the raw ensemble and via quantile regression. Neighborhood method and time-lagging are effective tools to inexpensively increase the ensemble spread, which results in more reliable forecasts especially for extreme precipitation events. Since an EPS provides a large amount of potentially informative predictors, a variable selection is required in order to obtain a stable statistical model. A Bayesian formulation of quantile regression allows for inference about the selection of predictive covariates by the use of appropriate prior distributions. Moreover, the implementation of an additional process layer for the regression parameters accounts for spatial variations of the parameters. Bayesian quantile regression and its spatially adaptive extension is illustrated for the German-focused mesoscale weather prediction ensemble COSMO-DE-EPS, which runs (pre)operationally since December 2010 at the German Meteorological Service (DWD). Objective out-of-sample verification uses the quantile score (QS), a weighted absolute error between quantile forecasts and observations. The QS is a proper scoring function and can be decomposed into

Research on Interval Forecast For Metal Futures Market′s VaR Based on Bootstrap%基于Bootstrap的金属期货市场风险VaR区间预测

Institute of Scientific and Technical Information of China (English)

沈盟; 王璐

2016-01-01

金属期货市场风险VaR的准确测度对防范期货交易风险及保持市场健康平稳运行有重要作用.传统的VaR测度方法主要以点预测为主,无法反映预测近似值的精确程度及范围. 因此,提出了一种基于Bootstrap的金属期货市场风险VaR区间预测方法,同时引入LR检验区间预测的有效性,最后利用我国铜和铝期货市场数据进行了VaR风险的区间预测. 结果表明,新的VaR区间预测方法能克服点预测的不足,准确有效地描述VaR的估计风险,同时置信区间上下限可用于风险的预警及控制.%The accurate measurement on metal futures market′s VaR is important to prevent the futures′transaction risk and maintain the market healthy and stable operation.The traditional methods measuring VaR focus on point forecast which can't re-flect the accuracy of the predictive value.A new method to measure the interval forecast for metal futures market's VaR based on bootstrap is put forward.LR test is used to test the effectiveness of interval forecast.Finally,we empirical study the interval fore-cast of copper and aluminum futures market's VaR in China.The results show that the new method can overcome the lack of point forecast,while the upper and lower confidence interval can be used for early warning and control financial risks.

Using Analog Ensemble to generate spatially downscaled probabilistic wind power forecasts

Science.gov (United States)

Delle Monache, L.; Shahriari, M.; Cervone, G.

2017-12-01

We use the Analog Ensemble (AnEn) method to generate probabilistic 80-m wind power forecasts. We use data from the NCEP GFS ( 28 km resolution) and NCEP NAM (12 km resolution). We use forecasts data from NAM and GFS, and analysis data from NAM which enables us to: 1) use a lower-resolution model to create higher-resolution forecasts, and 2) use a higher-resolution model to create higher-resolution forecasts. The former essentially increases computing speed and the latter increases forecast accuracy. An aggregated model of the former can be compared against the latter to measure the accuracy of the AnEn spatial downscaling. The AnEn works by taking a deterministic future forecast and comparing it with past forecasts. The model searches for the best matching estimates within the past forecasts and selects the predictand value corresponding to these past forecasts as the ensemble prediction for the future forecast. Our study is based on predicting wind speed and air density at more than 13,000 grid points in the continental US. We run the AnEn model twice: 1) estimating 80-m wind speed by using predictor variables such as temperature, pressure, geopotential height, U-component and V-component of wind, 2) estimating air density by using predictors such as temperature, pressure, and relative humidity. We use the air density values to correct the standard wind power curves for different values of air density. The standard deviation of the ensemble members (i.e. ensemble spread) will be used as the degree of difficulty to predict wind power at different locations. The value of the correlation coefficient between the ensemble spread and the forecast error determines the appropriateness of this measure. This measure is prominent for wind farm developers as building wind farms in regions with higher predictability will reduce the real-time risks of operating in the electricity markets.

Greening the Future

Science.gov (United States)

Williamson, Norma Velia

2011-01-01

Because educators vicariously touch the future through their students, the author believes that they sometimes have the uncanny ability to see the future. One common future forecast is the phenomenal growth of green jobs in the emerging green economy, leading to the creation of the "Reach of the Sun" Solar Energy Academy at La Mirada…

Coal production forecast and low carbon policies in China

International Nuclear Information System (INIS)

Wang Jianzhou; Dong Yao; Wu Jie; Mu Ren; Jiang He

2011-01-01

With rapid economic growth and industrial expansion, China consumes more coal than any other nation. Therefore, it is particularly crucial to forecast China's coal production to help managers make strategic decisions concerning China's policies intended to reduce carbon emissions and concerning the country's future needs for domestic and imported coal. Such decisions, which must consider results from forecasts, will have important national and international effects. This article proposes three improved forecasting models based on grey systems theory: the Discrete Grey Model (DGM), the Rolling DGM (RDGM), and the p value RDGM. We use the statistical data of coal production in China from 1949 to 2005 to validate the effectiveness of these improved models to forecast the data from 2006 to 2010. The performance of the models demonstrates that the p value RDGM has the best forecasting behaviour over this historical time period. Furthermore, this paper forecasts coal production from 2011 to 2015 and suggests some policies for reducing carbon and other emissions that accompany the rise in forecasted coal production. - Highlights: → Improved forecasting models make full use of the advantages of individual model. → Proposed models create commendable improvements for current research. → Proposed models do not make complicated decisions about the explicit form. → We forecast coal production of China from 2011 to 2015. → We suggest some policies for reducing carbon emissions.

Coal production forecast and low carbon policies in China

Energy Technology Data Exchange (ETDEWEB)

Wang Jianzhou [School of Mathematics and Statistics, Lanzhou University, Lanzhou 730000 (China); Dong Yao, E-mail: dongyao20051987@yahoo.cn [School of Mathematics and Statistics, Lanzhou University, Lanzhou 730000 (China); Wu Jie; Mu Ren; Jiang He [School of Mathematics and Statistics, Lanzhou University, Lanzhou 730000 (China)

2011-10-15

With rapid economic growth and industrial expansion, China consumes more coal than any other nation. Therefore, it is particularly crucial to forecast China's coal production to help managers make strategic decisions concerning China's policies intended to reduce carbon emissions and concerning the country's future needs for domestic and imported coal. Such decisions, which must consider results from forecasts, will have important national and international effects. This article proposes three improved forecasting models based on grey systems theory: the Discrete Grey Model (DGM), the Rolling DGM (RDGM), and the p value RDGM. We use the statistical data of coal production in China from 1949 to 2005 to validate the effectiveness of these improved models to forecast the data from 2006 to 2010. The performance of the models demonstrates that the p value RDGM has the best forecasting behaviour over this historical time period. Furthermore, this paper forecasts coal production from 2011 to 2015 and suggests some policies for reducing carbon and other emissions that accompany the rise in forecasted coal production. - Highlights: > Improved forecasting models make full use of the advantages of individual model. > Proposed models create commendable improvements for current research. > Proposed models do not make complicated decisions about the explicit form. > We forecast coal production of China from 2011 to 2015. > We suggest some policies for reducing carbon emissions.

Drought forecasting in Luanhe River basin involving climatic indices

Science.gov (United States)

Ren, Weinan; Wang, Yixuan; Li, Jianzhu; Feng, Ping; Smith, Ronald J.

2017-11-01

Drought is regarded as one of the most severe natural disasters globally. This is especially the case in Tianjin City, Northern China, where drought can affect economic development and people's livelihoods. Drought forecasting, the basis of drought management, is an important mitigation strategy. In this paper, we evolve a probabilistic forecasting model, which forecasts transition probabilities from a current Standardized Precipitation Index (SPI) value to a future SPI class, based on conditional distribution of multivariate normal distribution to involve two large-scale climatic indices at the same time, and apply the forecasting model to 26 rain gauges in the Luanhe River basin in North China. The establishment of the model and the derivation of the SPI are based on the hypothesis of aggregated monthly precipitation that is normally distributed. Pearson correlation and Shapiro-Wilk normality tests are used to select appropriate SPI time scale and large-scale climatic indices. Findings indicated that longer-term aggregated monthly precipitation, in general, was more likely to be considered normally distributed and forecasting models should be applied to each gauge, respectively, rather than to the whole basin. Taking Liying Gauge as an example, we illustrate the impact of the SPI time scale and lead time on transition probabilities. Then, the controlled climatic indices of every gauge are selected by Pearson correlation test and the multivariate normality of SPI, corresponding climatic indices for current month and SPI 1, 2, and 3 months later are demonstrated using Shapiro-Wilk normality test. Subsequently, we illustrate the impact of large-scale oceanic-atmospheric circulation patterns on transition probabilities. Finally, we use a score method to evaluate and compare the performance of the three forecasting models and compare them with two traditional models which forecast transition probabilities from a current to a future SPI class. The results show that the

Forecasting corn production in Serbia using ARIMA model

Directory of Open Access Journals (Sweden)

Ilić Ivana

2016-01-01

Full Text Available Agricultural crop production is closely related to climate, as a decisive success factor. Temperature fluctuations and changes in the volume of precipitation are the main factors affecting the growth and development of crops, and, ultimately, the quantity produced. Corn is the most common crop necessary to provide for domestic needs, and a strategic product for export. Production of corn in the period from 1947 to 2014 in Serbia had an oscillatory trend, with significant jumps and falls in production. The subject of this paper is the forecasting of future trends in corn production in Serbia. Building on the subject, the purpose of this paper is to create the model for forecasting future corn production and establishing its trends.

Emotional Intelligence: A Theoretical Framework for Individual Differences in Affective Forecasting

Science.gov (United States)

Hoerger, Michael; Chapman, Benjamin P.; Epstein, Ronald M.; Duberstein, Paul R.

2011-01-01

Only recently have researchers begun to examine individual differences in affective forecasting. The present investigation was designed to make a theoretical contribution to this emerging literature by examining the role of emotional intelligence in affective forecasting. Emotional intelligence was hypothesized to be associated with affective forecasting accuracy, memory for emotional reactions, and subsequent improvement on an affective forecasting task involving emotionally-evocative pictures. Results from two studies (N = 511) supported our hypotheses. Emotional intelligence was associated with accuracy in predicting, encoding, and consolidating emotional reactions. Furthermore, emotional intelligence was associated with greater improvement on a second affective forecasting task, with the relationship explained by basic memory processes. Implications for future research on basic and applied decision making are discussed. PMID:22251053

ENSEMBLE methods to reconcile disparate national long range dispersion forecasts

DEFF Research Database (Denmark)

Mikkelsen, Torben; Galmarini, S.; Bianconi, R.

2003-01-01

ENSEMBLE is a web-based decision support system for real-time exchange and evaluation of national long-range dispersion forecasts of nuclear releases with cross-boundary consequences. The system is developed with the purpose to reconcile among disparatenational forecasts for long-range dispersion...... emergency and meteorological forecasting centres, which may choose to integrate them directly intooperational emergency information systems, or possibly use them as a basis for future system development.......ENSEMBLE is a web-based decision support system for real-time exchange and evaluation of national long-range dispersion forecasts of nuclear releases with cross-boundary consequences. The system is developed with the purpose to reconcile among disparatenational forecasts for long-range dispersion....... ENSEMBLE addresses the problem of achieving a common coherent strategy across European national emergency management when national long-range dispersion forecasts differ from one another during an accidentalatmospheric release of radioactive material. A series of new decision-making “ENSEMBLE” procedures...

Technical note: Combining quantile forecasts and predictive distributions of streamflows

Science.gov (United States)

Bogner, Konrad; Liechti, Katharina; Zappa, Massimiliano

2017-11-01

The enhanced availability of many different hydro-meteorological modelling and forecasting systems raises the issue of how to optimally combine this great deal of information. Especially the usage of deterministic and probabilistic forecasts with sometimes widely divergent predicted future streamflow values makes it even more complicated for decision makers to sift out the relevant information. In this study multiple streamflow forecast information will be aggregated based on several different predictive distributions, and quantile forecasts. For this combination the Bayesian model averaging (BMA) approach, the non-homogeneous Gaussian regression (NGR), also known as the ensemble model output statistic (EMOS) techniques, and a novel method called Beta-transformed linear pooling (BLP) will be applied. By the help of the quantile score (QS) and the continuous ranked probability score (CRPS), the combination results for the Sihl River in Switzerland with about 5 years of forecast data will be compared and the differences between the raw and optimally combined forecasts will be highlighted. The results demonstrate the importance of applying proper forecast combination methods for decision makers in the field of flood and water resource management.

The Astringency of the GP Algorithm for Forecasting Software Failure Data Series

Directory of Open Access Journals (Sweden)

Yong-qiang Zhang

2007-05-01

Full Text Available The forecasting of software failure data series by Genetic Programming (GP can be realized without any assumptions before modeling. This discovery has transformed traditional statistical modeling methods as well as improved consistency for model applicability. The individuals' different characteristics during the evolution of generations, which are randomly changeable, are treated as Markov random processes. This paper also proposes that a GP algorithm with "optimal individuals reserved strategy" is the best solution to this problem, and therefore the adaptive individuals finally will be evolved. This will allow practical applications in software reliability modeling analysis and forecasting for failure behaviors. Moreover it can verify the feasibility and availability of the GP algorithm, which is applied to software failure data series forecasting on a theoretical basis. The results show that the GP algorithm is the best solution for software failure behaviors in a variety of disciplines.

Uncertainties in reservoir performance forecasts; Estimativa de incertezas na previsao de desempenho de reservatorios

Energy Technology Data Exchange (ETDEWEB)

Loschiavo, Roberto

1999-07-01

Project economic evaluation as well as facilities design for oil exploration is, in general based on production forecast. Since production forecast depends on several parameters that are not completely known, one should take a probabilistic approach for reservoir modeling and numerical flow simulation. In this work, we propose a procedure to estimate probabilistic production forecast profiles based on the decision tree technique. The most influencing parameters of a reservoir model are identified identified and combined to generate a number of realizations of the reservoirs. The combination of each branch of the decision tree defines the probability associated to each reservoir model. A computer program was developed to automatically generate the reservoir models, submit them to the numerical simulator, and process the results. Parallel computing was used to improve the performance of the procedure. (author)

Research on strategy and optimization method of PRT empty vehicles resource allocation based on traffic demand forecast

Science.gov (United States)

Xiang, Yu; Tao, Cheng

2018-05-01

During the operation of the personal rapid transit system(PRT), the empty vehicle resources is distributed unevenly because of different passenger demand. In order to maintain the balance between supply and demand, and to meet the passenger needs of the ride, PRT empty vehicle resource allocation model is constructed based on the future demand forecasted by historical demand in this paper. The improved genetic algorithm is implied in distribution of the empty vehicle which can reduce the customers waiting time and improve the operation efficiency of the PRT system so that all passengers can take the PRT vehicles in the shortest time. The experimental result shows that the improved genetic algorithm can allocate the empty vehicle from the system level optimally, and realize the distribution of the empty vehicle resources reasonably in the system.

Forecasting forest chip energy production in Finland 2008-2014

International Nuclear Information System (INIS)

Linden, Mikael

2011-01-01

Energy policy measures aim to increase energy production from forest chips in Finland to 10 TWh by year 2010. However, on the regional level production differences are large, and the regional estimates of the potential base of raw materials for the production of forest chips are heterogeneous. In order to analyse the validity of the above target, two methods are proposed to derive forecasts for region-level energy production from forest chips in Finland in the years 2008-2014. The plant-level data from 2003-2007 gives a starting point for a detailed statistical analysis of present and future region-level forest chip production. Observed 2008 regional levels are above the estimated prediction 95% confidence intervals based on aggregation of plant-level time averages. A simple time trend model with fixed-region effects provides accurate forecasts for the years 2008-2014. Forest chip production forecast confidence intervals cover almost all regions for the 2008 levels and the estimates of potential production levels for 2014. The forecast confidence intervals are also derived with re-sampling methods, i.e. with bootstrap methods, to obtain more reliable results. Results confirm that a general materials shortfall is not expected in the near future for forest chip energy production in Finland.

Container Throughput Forecasting Using Dynamic Factor Analysis and ARIMAX Model

Directory of Open Access Journals (Sweden)

Marko Intihar

2017-11-01

Full Text Available The paper examines the impact of integration of macroeconomic indicators on the accuracy of container throughput time series forecasting model. For this purpose, a Dynamic factor analysis and AutoRegressive Integrated Moving-Average model with eXogenous inputs (ARIMAX are used. Both methodologies are integrated into a novel four-stage heuristic procedure. Firstly, dynamic factors are extracted from external macroeconomic indicators influencing the observed throughput. Secondly, the family of ARIMAX models of different orders is generated based on the derived factors. In the third stage, the diagnostic and goodness-of-fit testing is applied, which includes statistical criteria such as fit performance, information criteria, and parsimony. Finally, the best model is heuristically selected and tested on the real data of the Port of Koper. The results show that by applying macroeconomic indicators into the forecasting model, more accurate future throughput forecasts can be achieved. The model is also used to produce future forecasts for the next four years indicating a more oscillatory behaviour in (2018-2020. Hence, care must be taken concerning any bigger investment decisions initiated from the management side. It is believed that the proposed model might be a useful reinforcement of the existing forecasting module in the observed port.

Application of Quantitative Models, MNLR and ANN in Short Term Forecasting of Ship Data

OpenAIRE

P.Oliver Jayaprakash; K. Gunasekaran

2011-01-01

Forecasting has been the trouble-free way for the port authorities to derive the future expected values of service time of Bulk cargo ships handled at ports of South India. The short term forecasting could be an effective tool for estimating the resource requirements of recurring ships of similar tonnage and Cargo. Forecasting the arrival data related to port based ship operations customarily done using the standard algorithms and assumptions. The regular forecasting methods were decompositio...

Forecast Informed Reservoir Operations: Bringing Science and Decision-Makers Together to Explore Use of Hydrometeorological Forecasts to Support Future Reservoir Operations

Science.gov (United States)

Ralph, F. M.; Jasperse, J.

2017-12-01

Forecast Informed Reservoir Operations (FIRO) is a proposed strategy that is exploring inorporation of improved hydrometeorological forecasts of land-falling atmospheric rivers on the U.S. West Coast into reservoir operations. The first testbed for this strategy is Lake Mendocino, which is located in the East Fork of the 1485 mi2 Russian River Watershed in northern California. This project is guided by the Lake Mendocino FIRO Steering Committee (SC). The SC is an ad hoc committee that consists of water managers and scientists from several federal, state, and local agencies, and universities who have teamed to evaluate whether current or improved technology and scientific understanding can be utilized to improve water supply reliability, enhance flood mitigation and support recovery of listed salmon for the Russian River of northern California. In 2015, the SC created a detailed work plan, which included a Preliminary Viability Assessment, which has now been completed. The SC developed a vision that operational efficiency would be improved by using forecasts to inform decisions about releasing or storing water. FIRO would use available reservoir storage in an efficient manner by (1) better forecasting inflow (or lack of inflow) with enhanced technology, and (2) adapting operation in real time to meet the need for storage, rather than making storage available just in case it is needed. The envisioned FIRO strategy has the potential to simultaneously improve water supply reliability, flood protection, and ecosystem outcomes through a more efficient use of existing infrastructure while requiring minimal capital improvements in the physical structure of the dam. This presentation will provide an overview of the creation of the FIRO SC and how it operates, and describes the lessons learned through this partnership. Results in the FIRO Preliminary Viability Assessment will be summarized and next steps described.

Forecast Combinations

OpenAIRE

Timmermann, Allan G

2005-01-01

Forecast combinations have frequently been found in empirical studies to produce better forecasts on average than methods based on the ex-ante best individual forecasting model. Moreover, simple combinations that ignore correlations between forecast errors often dominate more refined combination schemes aimed at estimating the theoretically optimal combination weights. In this paper we analyse theoretically the factors that determine the advantages from combining forecasts (for example, the d...

Forecaster Behaviour and Bias in Macroeconomic Forecasts

OpenAIRE

Roy Batchelor

2007-01-01

This paper documents the presence of systematic bias in the real GDP and inflation forecasts of private sector forecasters in the G7 economies in the years 1990–2005. The data come from the monthly Consensus Economics forecasting service, and bias is measured and tested for significance using parametric fixed effect panel regressions and nonparametric tests on accuracy ranks. We examine patterns across countries and forecasters to establish whether the bias reflects the inefficient use of i...

Accuracy and artifact: reexamining the intensity bias in affective forecasting.

Science.gov (United States)

Levine, Linda J; Lench, Heather C; Kaplan, Robin L; Safer, Martin A

2012-10-01

Research on affective forecasting shows that people have a robust tendency to overestimate the intensity of future emotion. We hypothesized that (a) people can accurately predict the intensity of their feelings about events and (b) a procedural artifact contributes to people's tendency to overestimate the intensity of their feelings in general. People may misinterpret the forecasting question as asking how they will feel about a focal event, but they are later asked to report their feelings in general without reference to that event. In the current investigation, participants predicted and reported both their feelings in general and their feelings about an election outcome (Study 1) and an exam grade (Study 3). We also assessed how participants interpreted forecasting questions (Studies 2 and 4) and conducted a meta-analysis of affective forecasting research (Study 5). The results showed that participants accurately predicted the intensity of their feelings about events. They overestimated only when asked to predict how they would feel in general and later report their feelings without reference to the focal event. Most participants, however, misinterpreted requests to predict their feelings in general as asking how they would feel when they were thinking about the focal event. Clarifying the meaning of the forecasting question significantly reduced overestimation. These findings reveal that people have more sophisticated self-knowledge than is commonly portrayed in the affective forecasting literature. Overestimation of future emotion is partly due to a procedure in which people predict one thing but are later asked to report another.

Forecast combinations

OpenAIRE

Aiolfi, Marco; Capistrán, Carlos; Timmermann, Allan

2010-01-01

We consider combinations of subjective survey forecasts and model-based forecasts from linear and non-linear univariate specifications as well as multivariate factor-augmented models. Empirical results suggest that a simple equal-weighted average of survey forecasts outperform the best model-based forecasts for a majority of macroeconomic variables and forecast horizons. Additional improvements can in some cases be gained by using a simple equal-weighted average of survey and model-based fore...

Demographic Analysis and Planning for the Future. No. 13.

Science.gov (United States)

Efird, Cathy M.

The basic sources and types of demographic data available for future planning for the developmentally disabled are reviewed and a frame work for data organization is suggested. It is explained that future forecasts may be undertaken by the following principles: trend forecasting or extrapolation; scenario construction; models, games, and…

A way to synchronize models with seismic faults for earthquake forecasting

DEFF Research Database (Denmark)

González, Á.; Gómez, J.B.; Vázquez-Prada, M.

2006-01-01

Numerical models are starting to be used for determining the future behaviour of seismic faults and fault networks. Their final goal would be to forecast future large earthquakes. In order to use them for this task, it is necessary to synchronize each model with the current status of the actual....... Earthquakes, though, provide indirect but measurable clues of the stress and strain status in the lithosphere, which should be helpful for the synchronization of the models. The rupture area is one of the measurable parameters of earthquakes. Here we explore how it can be used to at least synchronize fault...... models between themselves and forecast synthetic earthquakes. Our purpose here is to forecast synthetic earthquakes in a simple but stochastic (random) fault model. By imposing the rupture area of the synthetic earthquakes of this model on other models, the latter become partially synchronized...

Flow Forecasting in Drainage Systems with Extrapolated Radar Rainfall Data and Auto Calibration on Flow Observations

DEFF Research Database (Denmark)

Thorndahl, Søren Liedtke; Grum, M.; Rasmussen, Michael R.

2011-01-01

Forecasting of flows, overflow volumes, water levels, etc. in drainage systems can be applied in real time control of drainage systems in the future climate in order to fully utilize system capacity and thus save possible construction costs. An online system for forecasting flows and water levels......-calibrated on flow measurements in order to produce the best possible forecast for the drainage system at all times. The system shows great potential for the implementation of real time control in drainage systems and forecasting flows and water levels.......Forecasting of flows, overflow volumes, water levels, etc. in drainage systems can be applied in real time control of drainage systems in the future climate in order to fully utilize system capacity and thus save possible construction costs. An online system for forecasting flows and water levels...... in a small urban catchment has been developed. The forecast is based on application of radar rainfall data, which by a correlation based technique, is extrapolated with a lead time up to two hours. The runoff forecast in the drainage system is based on a fully distributed MOUSE model which is auto...

Seasonal Forecast Skill And Teleconnections Over East Africa

Science.gov (United States)

MacLeod, D.; Palmer, T.

2017-12-01

Many people living in East Africa are significantly exposed to risks arising from climate variability. The region experiences two rainy seasons and poor performance of either or both of these (such as seen recently in 2016/17) reduces agricultural productivity and threatens food security. In combination with other factors this can lead to famine. By utilizing seasonal climate forecasts, preparatory actions can be taken in order to mitigate the risks arising from such climate variability. As part of the project ForPAc: "Towards forecast-based preparedness action", we are working with humanitarian agencies in Kenya to build such early warning systems on subseasonal-to-seasonal timescales. Here, the seasonal predictability and forecast skill of the two East African rainy seasons will be presented. Results from the new ECMWF operational forecasting system SEAS5 will be shown and compared to the previous System 4. Analysis of a new 110 year long atmosphere-only simulation will also be discussed, demonstrating impacts of atmosphere-ocean coupling as well as putting operational forecast skill in a long-term context. Particular focus will be given to the model representation of teleconnections of seasonal climate with global sea surface temperatures; highlighting sources of forecast error and informing future model development.

Forecasting monthly peak demand of electricity in India—A critique

International Nuclear Information System (INIS)

Rallapalli, Srinivasa Rao; Ghosh, Sajal

2012-01-01

The nature of electricity differs from that of other commodities since electricity is a non-storable good and there have been significant seasonal and diurnal variations of demand. Under such condition, precise forecasting of demand for electricity should be an integral part of the planning process as this enables the policy makers to provide directions on cost-effective investment and on scheduling the operation of the existing and new power plants so that the supply of electricity can be made adequate enough to meet the future demand and its variations. Official load forecasting in India done by Central Electricity Authority (CEA) is often criticized for being overestimated due to inferior techniques used for forecasting. This paper tries to evaluate monthly peak demand forecasting performance predicted by CEA using trend method and compare it with those predicted by Multiplicative Seasonal Autoregressive Integrated Moving Average (MSARIMA) model. It has been found that MSARIMA model outperforms CEA forecasts both in-sample static and out-of-sample dynamic forecast horizons in all five regional grids in India. For better load management and grid discipline, this study suggests employing sophisticated techniques like MSARIMA for peak load forecasting in India. - Highlights: ► This paper evaluates monthly peak demand forecasting performance by CEA. ► Compares CEA forecasts it with those predicted by MSARIMA model. ► MSARIMA model outperforms CEA forecasts in all five regional grids in India. ► Opportunity exists to improve the performance of CEA forecasts.

New forecasting methodology indicates more disease and earlier mortality ahead for today's younger Americans.

Science.gov (United States)

Reither, Eric N; Olshansky, S Jay; Yang, Yang

2011-08-01

Traditional methods of projecting population health statistics, such as estimating future death rates, can give inaccurate results and lead to inferior or even poor policy decisions. A new "three-dimensional" method of forecasting vital health statistics is more accurate because it takes into account the delayed effects of the health risks being accumulated by today's younger generations. Applying this forecasting technique to the US obesity epidemic suggests that future death rates and health care expenditures could be far worse than currently anticipated. We suggest that public policy makers adopt this more robust forecasting tool and redouble efforts to develop and implement effective obesity-related prevention programs and interventions.

Short term and medium term power distribution load forecasting by neural networks

International Nuclear Information System (INIS)

Yalcinoz, T.; Eminoglu, U.

2005-01-01

Load forecasting is an important subject for power distribution systems and has been studied from different points of view. In general, load forecasts should be performed over a broad spectrum of time intervals, which could be classified into short term, medium term and long term forecasts. Several research groups have proposed various techniques for either short term load forecasting or medium term load forecasting or long term load forecasting. This paper presents a neural network (NN) model for short term peak load forecasting, short term total load forecasting and medium term monthly load forecasting in power distribution systems. The NN is used to learn the relationships among past, current and future temperatures and loads. The neural network was trained to recognize the peak load of the day, total load of the day and monthly electricity consumption. The suitability of the proposed approach is illustrated through an application to real load shapes from the Turkish Electricity Distribution Corporation (TEDAS) in Nigde. The data represents the daily and monthly electricity consumption in Nigde, Turkey

Day-Ahead Wind Power Forecasting Using a Two-Stage Hybrid Modeling Approach Based on SCADA and Meteorological Information, and Evaluating the Impact of Input-Data Dependency on Forecasting Accuracy

Directory of Open Access Journals (Sweden)

Dehua Zheng

2017-12-01

Full Text Available The power generated by wind generators is usually associated with uncertainties, due to the intermittency of wind speed and other weather variables. This creates a big challenge for transmission system operators (TSOs and distribution system operators (DSOs in terms of connecting, controlling and managing power networks with high-penetration wind energy. Hence, in these power networks, accurate wind power forecasts are essential for their reliable and efficient operation. They support TSOs and DSOs in enhancing the control and management of the power network. In this paper, a novel two-stage hybrid approach based on the combination of the Hilbert-Huang transform (HHT, genetic algorithm (GA and artificial neural network (ANN is proposed for day-ahead wind power forecasting. The approach is composed of two stages. The first stage utilizes numerical weather prediction (NWP meteorological information to predict wind speed at the exact site of the wind farm. The second stage maps actual wind speed vs. power characteristics recorded by SCADA. Then, the wind speed forecast in the first stage for the future day is fed to the second stage to predict the future day’s wind power. Comparative selection of input-data parameter sets for the forecasting model and impact analysis of input-data dependency on forecasting accuracy have also been studied. The proposed approach achieves significant forecasting accuracy improvement compared with three other artificial intelligence-based forecasting approaches and a benchmark model using the smart persistence method.

A forecasting model of gaming revenues in Clark County, Nevada

International Nuclear Information System (INIS)

Edwards, B.; Bando, A.; Bassett, G.; Rosen, A.; Carlson, J.; Meenan, C.

1992-01-01

This paper describes the Western Area Gaining and Economic Response Simulator (WAGERS), a forecasting model that emphasizes the role of the gaming industry in Clark County, Nevada. It is designed to generate forecasts of gaming revenues in Clark County, whose regional economy is dominated by the gaming industry, an identify the exogenous variables that affect gaming revenues. This model will provide baseline forecasts of Clark County gaming revenues in order to assess changes in gaming related economic activity resulting from future events like the siting of a permanent high-level radioactive waste repository at Yucca Mountain

A forecasting model of gaming revenues in Clark County, Nevada

International Nuclear Information System (INIS)

Edwards, B.; Bando, A.; Basset, G.; Rosen, A.; Meenan, C.; Carlson, J.

1992-01-01

This paper describes the Western Area Gaming and Economic Response Simulator (WAGERS), a forecasting model that emphasizes the role of the gaming industry in Clark County, Nevada. It is designed to generate forecasts of gaming revenues in Clark County, whose regional economy is dominated by the gaming industry, and identify the exogenous variables that affect gaming revenues. This model will provide baseline forecasts of Clark County gaming revenues in order to assess changes in gaming related economic activity resulting from future events like the siting of a permanent high-level radioactive waste repository at Yucca Mountain

A forecasting model of gaming revenues in Clark County, Nevada

Energy Technology Data Exchange (ETDEWEB)

Edwards, B.; Bando, A.; Bassett, G.; Rosen, A. [Argonne National Lab., IL (United States); Carlson, J.; Meenan, C. [Science Applications International Corp., Las Vegas, NV (United States)

1992-04-01

This paper describes the Western Area Gaming and Economic Response Simulator (WAGERS), a forecasting model that emphasizes the role of the gaming industry in Clark County, Nevada. It is designed to generate forecasts of gaming revenues in Clark County, whose regional economy is dominated by the gaming industry, an identify the exogenous variables that affect gaming revenues. This model will provide baseline forecasts of Clark County gaming revenues in order to assess changes in gaming related economic activity resulting from future events like the siting of a permanent high-level radioactive waste repository at Yucca Mountain.

Short-Term Wind Speed Forecasting for Power System Operations

KAUST Repository

Zhu, Xinxin

2012-04-01

The emphasis on renewable energy and concerns about the environment have led to large-scale wind energy penetration worldwide. However, there are also significant challenges associated with the use of wind energy due to the intermittent and unstable nature of wind. High-quality short-term wind speed forecasting is critical to reliable and secure power system operations. This article begins with an overview of the current status of worldwide wind power developments and future trends. It then reviews some statistical short-term wind speed forecasting models, including traditional time series approaches and more advanced space-time statistical models. It also discusses the evaluation of forecast accuracy, in particular, the need for realistic loss functions. New challenges in wind speed forecasting regarding ramp events and offshore wind farms are also presented. © 2012 The Authors. International Statistical Review © 2012 International Statistical Institute.

Effective Heuristics for Capacitated Production Planning with Multiperiod Production and Demand with Forecast Band Refinement

OpenAIRE

Philip Kaminsky; Jayashankar M. Swaminathan

2004-01-01

In this paper we extend forecast band evolution and capacitated production modelling to the multiperiod demand case. In this model, forecasts of discrete demand for any period are modelled as bands and defined by lower and upper bounds on demand, such that future forecasts lie within the current band. We develop heuristics that utilize knowledge of demand forecast evolution to make production decisions in capacitated production planning environments. In our computational study we explore the ...

Assimilation scheme of the Mediterranean Forecasting System: operational implementation

Directory of Open Access Journals (Sweden)

E. Demirov

Full Text Available This paper describes the operational implementation of the data assimilation scheme for the Mediterranean Forecasting System Pilot Project (MFSPP. The assimilation scheme, System for Ocean Forecast and Analysis (SOFA, is a reduced order Optimal Interpolation (OI scheme. The order reduction is achieved by projection of the state vector into vertical Empirical Orthogonal Functions (EOF. The data assimilated are Sea Level Anomaly (SLA and temperature profiles from Expandable Bathy Termographs (XBT. The data collection, quality control, assimilation and forecast procedures are all done in Near Real Time (NRT. The OI is used intermittently with an assimilation cycle of one week so that an analysis is produced once a week. The forecast is then done for ten days following the analysis day. The root mean square (RMS between the model forecast and the analysis (the forecast RMS is below 0.7°C in the surface layers and below 0.2°C in the layers deeper than 200 m for all the ten forecast days. The RMS between forecast and initial condition (persistence RMS is higher than forecast RMS after the first day. This means that the model improves forecast with respect to persistence. The calculation of the misfit between the forecast and the satellite data suggests that the model solution represents well the main space and time variability of the SLA except for a relatively short period of three – four weeks during the summer when the data show a fast transition between the cyclonic winter and anti-cyclonic summer regimes. This occurs in the surface layers that are not corrected by our assimilation scheme hypothesis. On the basis of the forecast skill scores analysis, conclusions are drawn about future improvements.

Key words. Oceanography; general (marginal and semi-enclosed seas; numerical modeling; ocean prediction

Assimilation scheme of the Mediterranean Forecasting System: operational implementation

Directory of Open Access Journals (Sweden)

E. Demirov

2003-01-01

Full Text Available This paper describes the operational implementation of the data assimilation scheme for the Mediterranean Forecasting System Pilot Project (MFSPP. The assimilation scheme, System for Ocean Forecast and Analysis (SOFA, is a reduced order Optimal Interpolation (OI scheme. The order reduction is achieved by projection of the state vector into vertical Empirical Orthogonal Functions (EOF. The data assimilated are Sea Level Anomaly (SLA and temperature profiles from Expandable Bathy Termographs (XBT. The data collection, quality control, assimilation and forecast procedures are all done in Near Real Time (NRT. The OI is used intermittently with an assimilation cycle of one week so that an analysis is produced once a week. The forecast is then done for ten days following the analysis day. The root mean square (RMS between the model forecast and the analysis (the forecast RMS is below 0.7°C in the surface layers and below 0.2°C in the layers deeper than 200 m for all the ten forecast days. The RMS between forecast and initial condition (persistence RMS is higher than forecast RMS after the first day. This means that the model improves forecast with respect to persistence. The calculation of the misfit between the forecast and the satellite data suggests that the model solution represents well the main space and time variability of the SLA except for a relatively short period of three – four weeks during the summer when the data show a fast transition between the cyclonic winter and anti-cyclonic summer regimes. This occurs in the surface layers that are not corrected by our assimilation scheme hypothesis. On the basis of the forecast skill scores analysis, conclusions are drawn about future improvements. Key words. Oceanography; general (marginal and semi-enclosed seas; numerical modeling; ocean prediction

Spatiotemporal drought forecasting using nonlinear models

Science.gov (United States)

Vasiliades, Lampros; Loukas, Athanasios

2010-05-01

Spatiotemporal data mining is the extraction of unknown and implicit knowledge, structures, spatiotemporal relationships, or patterns not explicitly stored in spatiotemporal databases. As one of data mining techniques, forecasting is widely used to predict the unknown future based upon the patterns hidden in the current and past data. In order to achieve spatiotemporal forecasting, some mature analysis tools, e.g., time series and spatial statistics are extended to the spatial dimension and the temporal dimension, respectively. Drought forecasting plays an important role in the planning and management of natural resources and water resource systems in a river basin. Early and timelines forecasting of a drought event can help to take proactive measures and set out drought mitigation strategies to alleviate the impacts of drought. Despite the widespread application of nonlinear mathematical models, comparative studies on spatiotemporal drought forecasting using different models are still a huge task for modellers. This study uses a promising approach, the Gamma Test (GT), to select the input variables and the training data length, so that the trial and error workload could be greatly reduced. The GT enables to quickly evaluate and estimate the best mean squared error that can be achieved by a smooth model on any unseen data for a given selection of inputs, prior to model construction. The GT is applied to forecast droughts using monthly Standardized Precipitation Index (SPI) timeseries at multiple timescales in several precipitation stations at Pinios river basin in Thessaly region, Greece. Several nonlinear models have been developed efficiently, with the aid of the GT, for 1-month up to 12-month ahead forecasting. Several temporal and spatial statistical indices were considered for the performance evaluation of the models. The predicted results show reasonably good agreement with the actual data for short lead times, whereas the forecasting accuracy decreases with

Higgs-dilaton cosmology: An inflation-dark-energy connection and forecasts for future galaxy surveys

Science.gov (United States)

Casas, Santiago; Pauly, Martin; Rubio, Javier

2018-02-01

The Higgs-dilaton model is a scale-invariant extension of the Standard Model nonminimally coupled to gravity and containing just one additional degree of freedom on top of the Standard Model particle content. This minimalistic scenario predicts a set of measurable consistency relations between the inflationary observables and the dark-energy equation-of-state parameter. We present an alternative derivation of these consistency relations that highlights the connections and differences with the α -attractor scenario. We study how far these constraints allow one to distinguish the Higgs-dilaton model from Λ CDM and w CDM cosmologies. To this end we first analyze existing data sets using a Markov chain Monte Carlo approach. Second, we perform forecasts for future galaxy surveys using a Fisher matrix approach, both for galaxy clustering and weak lensing probes. Assuming that the best fit values in the different models remain comparable to the present ones, we show that both Euclid- and SKA2-like missions will be able to discriminate a Higgs-dilaton cosmology from Λ CDM and w CDM .

Should we use seasonnal meteorological ensemble forecasts for hydrological forecasting? A case study for nordic watersheds in Canada.

Science.gov (United States)

Bazile, Rachel; Boucher, Marie-Amélie; Perreault, Luc; Leconte, Robert; Guay, Catherine

2017-04-01

Hydro-electricity is a major source of energy for many countries throughout the world, including Canada. Long lead-time streamflow forecasts are all the more valuable as they help decision making and dam management. Different techniques exist for long-term hydrological forecasting. Perhaps the most well-known is 'Extended Streamflow Prediction' (ESP), which considers past meteorological scenarios as possible, often equiprobable, future scenarios. In the ESP framework, those past-observed meteorological scenarios (climatology) are used in turn as the inputs of a chosen hydrological model to produce ensemble forecasts (one member corresponding to each year in the available database). Many hydropower companies, including Hydro-Québec (province of Quebec, Canada) use variants of the above described ESP system operationally for long-term operation planning. The ESP system accounts for the hydrological initial conditions and for the natural variability of the meteorological variables. However, it cannot consider the current initial state of the atmosphere. Climate models can help remedy this drawback. In the context of a changing climate, dynamical forecasts issued from climate models seem to be an interesting avenue to improve upon the ESP method and could help hydropower companies to adapt their management practices to an evolving climate. Long-range forecasts from climate models can also be helpful for water management at locations where records of past meteorological conditions are short or nonexistent. In this study, we compare 7-month hydrological forecasts obtained from climate model outputs to an ESP system. The ESP system mimics the one used operationally at Hydro-Québec. The dynamical climate forecasts are produced by the European Center for Medium range Weather Forecasts (ECMWF) System4. Forecasts quality is assessed using numerical scores such as the Continuous Ranked Probability Score (CRPS) and the Ignorance score and also graphical tools such as the

Operational hydrological forecasting in Bavaria. Part I: Forecast uncertainty

Science.gov (United States)

Ehret, U.; Vogelbacher, A.; Moritz, K.; Laurent, S.; Meyer, I.; Haag, I.

2009-04-01

In Bavaria, operational flood forecasting has been established since the disastrous flood of 1999. Nowadays, forecasts based on rainfall information from about 700 raingauges and 600 rivergauges are calculated and issued for nearly 100 rivergauges. With the added experience of the 2002 and 2005 floods, awareness grew that the standard deterministic forecast, neglecting the uncertainty associated with each forecast is misleading, creating a false feeling of unambiguousness. As a consequence, a system to identify, quantify and communicate the sources and magnitude of forecast uncertainty has been developed, which will be presented in part I of this study. In this system, the use of ensemble meteorological forecasts plays a key role which will be presented in part II. Developing the system, several constraints stemming from the range of hydrological regimes and operational requirements had to be met: Firstly, operational time constraints obviate the variation of all components of the modeling chain as would be done in a full Monte Carlo simulation. Therefore, an approach was chosen where only the most relevant sources of uncertainty were dynamically considered while the others were jointly accounted for by static error distributions from offline analysis. Secondly, the dominant sources of uncertainty vary over the wide range of forecasted catchments: In alpine headwater catchments, typically of a few hundred square kilometers in size, rainfall forecast uncertainty is the key factor for forecast uncertainty, with a magnitude dynamically changing with the prevailing predictability of the atmosphere. In lowland catchments encompassing several thousands of square kilometers, forecast uncertainty in the desired range (usually up to two days) is mainly dependent on upstream gauge observation quality, routing and unpredictable human impact such as reservoir operation. The determination of forecast uncertainty comprised the following steps: a) From comparison of gauge

Forecasting Responses of a Northern Peatland Carbon Cycle to Elevated CO2 and a Gradient of Experimental Warming

Science.gov (United States)

Jiang, Jiang; Huang, Yuanyuan; Ma, Shuang; Stacy, Mark; Shi, Zheng; Ricciuto, Daniel M.; Hanson, Paul J.; Luo, Yiqi

2018-03-01

The ability to forecast ecological carbon cycling is imperative to land management in a world where past carbon fluxes are no longer a clear guide in the Anthropocene. However, carbon-flux forecasting has not been practiced routinely like numerical weather prediction. This study explored (1) the relative contributions of model forcing data and parameters to uncertainty in forecasting flux- versus pool-based carbon cycle variables and (2) the time points when temperature and CO2 treatments may cause statistically detectable differences in those variables. We developed an online forecasting workflow (Ecological Platform for Assimilation of Data (EcoPAD)), which facilitates iterative data-model integration. EcoPAD automates data transfer from sensor networks, data assimilation, and ecological forecasting. We used the Spruce and Peatland Responses Under Changing Experiments data collected from 2011 to 2014 to constrain the parameters in the Terrestrial Ecosystem Model, forecast carbon cycle responses to elevated CO2 and a gradient of warming from 2015 to 2024, and specify uncertainties in the model output. Our results showed that data assimilation substantially reduces forecasting uncertainties. Interestingly, we found that the stochasticity of future external forcing contributed more to the uncertainty of forecasting future dynamics of C flux-related variables than model parameters. However, the parameter uncertainty primarily contributes to the uncertainty in forecasting C pool-related response variables. Given the uncertainties in forecasting carbon fluxes and pools, our analysis showed that statistically different responses of fast-turnover pools to various CO2 and warming treatments were observed sooner than slow-turnover pools. Our study has identified the sources of uncertainties in model prediction and thus leads to improve ecological carbon cycling forecasts in the future.

Forecasting with quantitative methods the impact of special events in time series

OpenAIRE

Nikolopoulos, Konstantinos

2010-01-01

Abstract Quantitative methods are very successful for producing baseline forecasts of time series; however these models fail to forecast neither the timing nor the impact of special events such as promotions or strikes. In most of the cases the timing of such events is not known so they are usually referred as shocks (economics) or special events (forecasting). Sometimes the timing of such events is known a priori (i.e. a future promotion); but even then the impact of the forthcom...

China's soaring vehicle population: Even greater than forecasted?

Energy Technology Data Exchange (ETDEWEB)

Wang Yunshi, E-mail: yunwang@ucdavis.edu [Institute of Transportation Studies, University of California, One Shields Avenue, Davis, CA 95616 (United States); Teter, Jacob, E-mail: jeteter@ucdavis.edu [Institute of Transportation Studies, University of California, One Shields Avenue, Davis, CA 95616 (United States); Sperling, Daniel, E-mail: dsperling@ucdavis.edu [Institute of Transportation Studies, University of California, One Shields Avenue, Davis, CA 95616 (United States)

2011-06-15

China's vehicle population is widely forecasted to grow 6-11% per year into the foreseeable future. Barring aggressive policy intervention or a collapse of the Chinese economy, we suggest that those forecasts are conservative. We analyze the historical vehicle growth patterns of seven of the largest vehicle producing countries at comparable times in their motorization history. We estimate vehicle growth rates for this analogous group of countries to have 13-17% per year-roughly twice the rate forecasted for China by others. Applying these higher growth rates to China results in the total vehicle fleet reaching considerably higher volumes than forecasted by others, implying far higher global oil use and carbon emissions than projected by the International Energy Agency and others. - Highlights: > We use large, car-producing countries as models in forecasting vehicle ownership in China. > We find that vehicle growth rates in China could be twice as high as forecasted by others (including IEA). > Motorization is occurring quickly across all regions in China, not just the richer coastal areas.

Future Climate Analysis

International Nuclear Information System (INIS)

Cambell, C. G.

2004-01-01

This report documents an analysis that was performed to estimate climatic variables for the next 10,000 years by forecasting the timing and nature of climate change at Yucca Mountain, Nevada, the site of a repository for spent nuclear fuel and high-level radioactive waste. The future-climate estimates are based on an analysis of past-climate data from analog meteorological stations, and this report provides the rationale for the selection of these analog stations. The stations selected provide an upper and a lower climate bound for each future climate, and the data from those sites will provide input to the following reports: ''Simulation of Net Infiltration for Present-Day and Potential Future Climates'' (BSC 2004 [DIRS 170007]), ''Total System Performance Assessment (TSPA) Model/Analysis for the License Application'' (BSC 2004 [DIRS 168504]), ''Features, Events, and Processes in UZ Flow and Transport'' (BSC 2004 [DIRS 170012]), and ''Features, Events, and Processes in SZ Flow and Transport'' (BSC 2004 [DIRS 170013]). Forecasting long-term future climates, especially for the next 10,000 years, is highly speculative and rarely attempted. A very limited literature exists concerning the subject, largely from the British radioactive waste disposal effort. The discussion presented here is one available forecasting method for establishing upper and lower bounds for future climate estimates. The selection of different methods is directly dependent on the available evidence used to build a forecasting argument. The method used here involves selecting a particular past climate from many past climates, as an analog for future climate. While alternative analyses are possible for the case presented for Yucca Mountain, the evidence (data) used would be the same and the conclusions would not be expected to drastically change. Other studies might develop a different rationale or select other past climates resulting in a different future climate analog. Other alternative

A Probabilistic Short-Term Water Demand Forecasting Model Based on the Markov Chain

Directory of Open Access Journals (Sweden)

Francesca Gagliardi

2017-07-01

Full Text Available This paper proposes a short-term water demand forecasting method based on the use of the Markov chain. This method provides estimates of future demands by calculating probabilities that the future demand value will fall within pre-assigned intervals covering the expected total variability. More specifically, two models based on homogeneous and non-homogeneous Markov chains were developed and presented. These models, together with two benchmark models (based on artificial neural network and naïve methods, were applied to three real-life case studies for the purpose of forecasting the respective water demands from 1 to 24 h ahead. The results obtained show that the model based on a homogeneous Markov chain provides more accurate short-term forecasts than the one based on a non-homogeneous Markov chain, which is in line with the artificial neural network model. Both Markov chain models enable probabilistic information regarding the stochastic demand forecast to be easily obtained.

Short-term wind power combined forecasting based on error forecast correction

International Nuclear Information System (INIS)

Liang, Zhengtang; Liang, Jun; Wang, Chengfu; Dong, Xiaoming; Miao, Xiaofeng

2016-01-01

Highlights: • The correlation relationships of short-term wind power forecast errors are studied. • The correlation analysis method of the multi-step forecast errors is proposed. • A strategy selecting the input variables for the error forecast models is proposed. • Several novel combined models based on error forecast correction are proposed. • The combined models have improved the short-term wind power forecasting accuracy. - Abstract: With the increasing contribution of wind power to electric power grids, accurate forecasting of short-term wind power has become particularly valuable for wind farm operators, utility operators and customers. The aim of this study is to investigate the interdependence structure of errors in short-term wind power forecasting that is crucial for building error forecast models with regression learning algorithms to correct predictions and improve final forecasting accuracy. In this paper, several novel short-term wind power combined forecasting models based on error forecast correction are proposed in the one-step ahead, continuous and discontinuous multi-step ahead forecasting modes. First, the correlation relationships of forecast errors of the autoregressive model, the persistence method and the support vector machine model in various forecasting modes have been investigated to determine whether the error forecast models can be established by regression learning algorithms. Second, according to the results of the correlation analysis, the range of input variables is defined and an efficient strategy for selecting the input variables for the error forecast models is proposed. Finally, several combined forecasting models are proposed, in which the error forecast models are based on support vector machine/extreme learning machine, and correct the short-term wind power forecast values. The data collected from a wind farm in Hebei Province, China, are selected as a case study to demonstrate the effectiveness of the proposed

Using imperfect advance demand information in forecasting

NARCIS (Netherlands)

Tan, T.

2008-01-01

In this paper, we consider the demand-forecasting problem of a make-to-stock system operating in a business-to-business environment where some customers provide information on their future orders, which are subject to changes in time, hence constituting imperfect advance demand information (ADI).

Improved NN-GM(1,1 for Postgraduates’ Employment Confidence Index Forecasting

Directory of Open Access Journals (Sweden)

Lu Wang

2014-01-01

Full Text Available Postgraduates’ employment confidence index (ECI forecasting can help the university to predict the future trend of postgraduates’ employment. However, the common forecast method based on the grey model (GM has unsatisfactory performance to a certain extent. In order to forecast postgraduates’ ECI efficiently, this paper discusses a novel hybrid forecast model using limited raw samples. Different from previous work, the residual modified GM(1,1 model is combined with the improved neural network (NN in this work. In particullar, the hybrid model reduces the residue of the standard GM(1,1 model as well as accelerating the convergence rate of the standard NN. After numerical studies, the illustrative results are provided to demonstrate the forecast performance of the proposed model. In addition, some strategies for improving the postgraduates’ employment confidence have been discussed.

New Approach To Hour-By-Hour Weather Forecast

Science.gov (United States)

Liao, Q. Q.; Wang, B.

2017-12-01

Fine hourly forecast in single station weather forecast is required in many human production and life application situations. Most previous MOS (Model Output Statistics) which used a linear regression model are hard to solve nonlinear natures of the weather prediction and forecast accuracy has not been sufficient at high temporal resolution. This study is to predict the future meteorological elements including temperature, precipitation, relative humidity and wind speed in a local region over a relatively short period of time at hourly level. By means of hour-to-hour NWP (Numeral Weather Prediction)meteorological field from Forcastio (https://darksky.net/dev/docs/forecast) and real-time instrumental observation including 29 stations in Yunnan and 3 stations in Tianjin of China from June to October 2016, predictions are made of the 24-hour hour-by-hour ahead. This study presents an ensemble approach to combine the information of instrumental observation itself and NWP. Use autoregressive-moving-average (ARMA) model to predict future values of the observation time series. Put newest NWP products into the equations derived from the multiple linear regression MOS technique. Handle residual series of MOS outputs with autoregressive (AR) model for the linear property presented in time series. Due to the complexity of non-linear property of atmospheric flow, support vector machine (SVM) is also introduced . Therefore basic data quality control and cross validation makes it able to optimize the model function parameters , and do 24 hours ahead residual reduction with AR/SVM model. Results show that AR model technique is better than corresponding multi-variant MOS regression method especially at the early 4 hours when the predictor is temperature. MOS-AR combined model which is comparable to MOS-SVM model outperform than MOS. Both of their root mean square error and correlation coefficients for 2 m temperature are reduced to 1.6 degree Celsius and 0.91 respectively. The

Forecasting Volatility of Dhaka Stock Exchange: Linear Vs Non-linear models

Directory of Open Access Journals (Sweden)

Masudul Islam

2012-10-01

Full Text Available Prior information about a financial market is very essential for investor to invest money on parches share from the stock market which can strengthen the economy. The study examines the relative ability of various models to forecast daily stock indexes future volatility. The forecasting models that employed from simple to relatively complex ARCH-class models. It is found that among linear models of stock indexes volatility, the moving average model ranks first using root mean square error, mean absolute percent error, Theil-U and Linex loss function  criteria. We also examine five nonlinear models. These models are ARCH, GARCH, EGARCH, TGARCH and restricted GARCH models. We find that nonlinear models failed to dominate linear models utilizing different error measurement criteria and moving average model appears to be the best. Then we forecast the next two months future stock index price volatility by the best (moving average model.

Fuel cycle forecasting - there are forecasts and there are forecasts

International Nuclear Information System (INIS)

Puechl, K.H.

1975-01-01

The FORECAST-NUCLEAR computer program described recognizes that forecasts are made to answer a variety of questions and, therefore, that no single forecast is universally appropriate. Also, it recognizes that no two individuals will completely agree as to the input data that are appropriate for obtaining an answer to even a single simple question. Accordingly, the program was written from a utilitarian standpoint: it allows working with multiple projections; data inputting is simple to allow game-playing; computation time is short to minimize the cost of 'what if' assessements; and detail is internally carried to allow meaningful analysis. (author)

Fuel cycle forecasting - there are forecasts and there are forecasts

Energy Technology Data Exchange (ETDEWEB)

Puechl, K H

1975-12-01

The FORECAST-NUCLEAR computer program described recognizes that forecasts are made to answer a variety of questions and, therefore, that no single forecast is universally appropriate. Also, it recognizes that no two individuals will completely agree as to the input data that are appropriate for obtaining an answer to even a single simple question. Accordingly, the program was written from a utilitarian standpoint: it allows working with multiple projections; data inputting is simple to allow game-playing; computation time is short to minimize the cost of 'what if' assessements; and detail is internally carried to allow meaningful analysis.

ENSEMBLE methods to reconcile disparate national long range dispersion forecasting

Energy Technology Data Exchange (ETDEWEB)

Mikkelsen, T; Galmarini, S; Bianconi, R; French, S [eds.

2003-11-01

ENSEMBLE is a web-based decision support system for real-time exchange and evaluation of national long-range dispersion forecasts of nuclear releases with cross-boundary consequences. The system is developed with the purpose to reconcile among disparate national forecasts for long-range dispersion. ENSEMBLE addresses the problem of achieving a common coherent strategy across European national emergency management when national long-range dispersion forecasts differ from one another during an accidental atmospheric release of radioactive material. A series of new decision-making 'ENSEMBLE' procedures and Web-based software evaluation and exchange tools have been created for real-time reconciliation and harmonisation of real-time dispersion forecasts from meteorological and emergency centres across Europe during an accident. The new ENSEMBLE software tools is available to participating national emergency and meteorological forecasting centres, which may choose to integrate them directly into operational emergency information systems, or possibly use them as a basis for future system development. (au)

ENSEMBLE methods to reconcile disparate national long range dispersion forecasting

Energy Technology Data Exchange (ETDEWEB)

Mikkelsen, T.; Galmarini, S.; Bianconi, R.; French, S. (eds.)

2003-11-01

ENSEMBLE is a web-based decision support system for real-time exchange and evaluation of national long-range dispersion forecasts of nuclear releases with cross-boundary consequences. The system is developed with the purpose to reconcile among disparate national forecasts for long-range dispersion. ENSEMBLE addresses the problem of achieving a common coherent strategy across European national emergency management when national long-range dispersion forecasts differ from one another during an accidental atmospheric release of radioactive material. A series of new decision-making 'ENSEMBLE' procedures and Web-based software evaluation and exchange tools have been created for real-time reconciliation and harmonisation of real-time dispersion forecasts from meteorological and emergency centres across Europe during an accident. The new ENSEMBLE software tools is available to participating national emergency and meteorological forecasting centres, which may choose to integrate them directly into operational emergency information systems, or possibly use them as a basis for future system development. (au)

Application of Markov Model in Crude Oil Price Forecasting

Directory of Open Access Journals (Sweden)

Nuhu Isah

2017-08-01

Full Text Available Crude oil is an important energy commodity to mankind. Several causes have made crude oil prices to be volatile. The fluctuation of crude oil prices has affected many related sectors and stock market indices. Hence, forecasting the crude oil prices is essential to avoid the future prices of the non-renewable natural resources to rise. In this study, daily crude oil prices data was obtained from WTI dated 2 January to 29 May 2015. We used Markov Model (MM approach in forecasting the crude oil prices. In this study, the analyses were done using EViews and Maple software where the potential of this software in forecasting daily crude oil prices time series data was explored. Based on the study, we concluded that MM model is able to produce accurate forecast based on a description of history patterns in crude oil prices.

Variable Selection in Time Series Forecasting Using Random Forests

Directory of Open Access Journals (Sweden)

Hristos Tyralis

2017-10-01

Full Text Available Time series forecasting using machine learning algorithms has gained popularity recently. Random forest is a machine learning algorithm implemented in time series forecasting; however, most of its forecasting properties have remained unexplored. Here we focus on assessing the performance of random forests in one-step forecasting using two large datasets of short time series with the aim to suggest an optimal set of predictor variables. Furthermore, we compare its performance to benchmarking methods. The first dataset is composed by 16,000 simulated time series from a variety of Autoregressive Fractionally Integrated Moving Average (ARFIMA models. The second dataset consists of 135 mean annual temperature time series. The highest predictive performance of RF is observed when using a low number of recent lagged predictor variables. This outcome could be useful in relevant future applications, with the prospect to achieve higher predictive accuracy.

Iterative near-term ecological forecasting: Needs, opportunities, and challenges

Science.gov (United States)

Dietze, Michael C.; Fox, Andrew; Beck-Johnson, Lindsay; Betancourt, Julio L.; Hooten, Mevin B.; Jarnevich, Catherine S.; Keitt, Timothy H.; Kenney, Melissa A.; Laney, Christine M.; Larsen, Laurel G.; Loescher, Henry W.; Lunch, Claire K.; Pijanowski, Bryan; Randerson, James T.; Read, Emily; Tredennick, Andrew T.; Vargas, Rodrigo; Weathers, Kathleen C.; White, Ethan P.

2018-01-01

Two foundational questions about sustainability are “How are ecosystems and the services they provide going to change in the future?” and “How do human decisions affect these trajectories?” Answering these questions requires an ability to forecast ecological processes. Unfortunately, most ecological forecasts focus on centennial-scale climate responses, therefore neither meeting the needs of near-term (daily to decadal) environmental decision-making nor allowing comparison of specific, quantitative predictions to new observational data, one of the strongest tests of scientific theory. Near-term forecasts provide the opportunity to iteratively cycle between performing analyses and updating predictions in light of new evidence. This iterative process of gaining feedback, building experience, and correcting models and methods is critical for improving forecasts. Iterative, near-term forecasting will accelerate ecological research, make it more relevant to society, and inform sustainable decision-making under high uncertainty and adaptive management. Here, we identify the immediate scientific and societal needs, opportunities, and challenges for iterative near-term ecological forecasting. Over the past decade, data volume, variety, and accessibility have greatly increased, but challenges remain in interoperability, latency, and uncertainty quantification. Similarly, ecologists have made considerable advances in applying computational, informatic, and statistical methods, but opportunities exist for improving forecast-specific theory, methods, and cyberinfrastructure. Effective forecasting will also require changes in scientific training, culture, and institutions. The need to start forecasting is now; the time for making ecology more predictive is here, and learning by doing is the fastest route to drive the science forward.

Iterative near-term ecological forecasting: Needs, opportunities, and challenges.

Science.gov (United States)

Dietze, Michael C; Fox, Andrew; Beck-Johnson, Lindsay M; Betancourt, Julio L; Hooten, Mevin B; Jarnevich, Catherine S; Keitt, Timothy H; Kenney, Melissa A; Laney, Christine M; Larsen, Laurel G; Loescher, Henry W; Lunch, Claire K; Pijanowski, Bryan C; Randerson, James T; Read, Emily K; Tredennick, Andrew T; Vargas, Rodrigo; Weathers, Kathleen C; White, Ethan P

2018-02-13

Two foundational questions about sustainability are "How are ecosystems and the services they provide going to change in the future?" and "How do human decisions affect these trajectories?" Answering these questions requires an ability to forecast ecological processes. Unfortunately, most ecological forecasts focus on centennial-scale climate responses, therefore neither meeting the needs of near-term (daily to decadal) environmental decision-making nor allowing comparison of specific, quantitative predictions to new observational data, one of the strongest tests of scientific theory. Near-term forecasts provide the opportunity to iteratively cycle between performing analyses and updating predictions in light of new evidence. This iterative process of gaining feedback, building experience, and correcting models and methods is critical for improving forecasts. Iterative, near-term forecasting will accelerate ecological research, make it more relevant to society, and inform sustainable decision-making under high uncertainty and adaptive management. Here, we identify the immediate scientific and societal needs, opportunities, and challenges for iterative near-term ecological forecasting. Over the past decade, data volume, variety, and accessibility have greatly increased, but challenges remain in interoperability, latency, and uncertainty quantification. Similarly, ecologists have made considerable advances in applying computational, informatic, and statistical methods, but opportunities exist for improving forecast-specific theory, methods, and cyberinfrastructure. Effective forecasting will also require changes in scientific training, culture, and institutions. The need to start forecasting is now; the time for making ecology more predictive is here, and learning by doing is the fastest route to drive the science forward.

Short-term load forecasting of power system

Science.gov (United States)

Xu, Xiaobin

2017-05-01

In order to ensure the scientific nature of optimization about power system, it is necessary to improve the load forecasting accuracy. Power system load forecasting is based on accurate statistical data and survey data, starting from the history and current situation of electricity consumption, with a scientific method to predict the future development trend of power load and change the law of science. Short-term load forecasting is the basis of power system operation and analysis, which is of great significance to unit combination, economic dispatch and safety check. Therefore, the load forecasting of the power system is explained in detail in this paper. First, we use the data from 2012 to 2014 to establish the partial least squares model to regression analysis the relationship between daily maximum load, daily minimum load, daily average load and each meteorological factor, and select the highest peak by observing the regression coefficient histogram Day maximum temperature, daily minimum temperature and daily average temperature as the meteorological factors to improve the accuracy of load forecasting indicators. Secondly, in the case of uncertain climate impact, we use the time series model to predict the load data for 2015, respectively, the 2009-2014 load data were sorted out, through the previous six years of the data to forecast the data for this time in 2015. The criterion for the accuracy of the prediction is the average of the standard deviations for the prediction results and average load for the previous six years. Finally, considering the climate effect, we use the BP neural network model to predict the data in 2015, and optimize the forecast results on the basis of the time series model.

Flood Forecasting Based on TIGGE Precipitation Ensemble Forecast

Directory of Open Access Journals (Sweden)

Jinyin Ye

2016-01-01

Full Text Available TIGGE (THORPEX International Grand Global Ensemble was a major part of the THORPEX (Observing System Research and Predictability Experiment. It integrates ensemble precipitation products from all the major forecast centers in the world and provides systematic evaluation on the multimodel ensemble prediction system. Development of meteorologic-hydrologic coupled flood forecasting model and early warning model based on the TIGGE precipitation ensemble forecast can provide flood probability forecast, extend the lead time of the flood forecast, and gain more time for decision-makers to make the right decision. In this study, precipitation ensemble forecast products from ECMWF, NCEP, and CMA are used to drive distributed hydrologic model TOPX. We focus on Yi River catchment and aim to build a flood forecast and early warning system. The results show that the meteorologic-hydrologic coupled model can satisfactorily predict the flow-process of four flood events. The predicted occurrence time of peak discharges is close to the observations. However, the magnitude of the peak discharges is significantly different due to various performances of the ensemble prediction systems. The coupled forecasting model can accurately predict occurrence of the peak time and the corresponding risk probability of peak discharge based on the probability distribution of peak time and flood warning, which can provide users a strong theoretical foundation and valuable information as a promising new approach.

Case study of forecasting uranium supply and demand

International Nuclear Information System (INIS)

Noritake, Kazumitsu

1992-01-01

PNC collects and analyzes information about uranium market trend, world uranium supply and demand, and world uranium resources potential in order to establish the strategy of uranium exploration. This paper outlines the results obtained to forecast uranium supply and demand. Our forecast indicates that 8,500 tU, accounting for one-sixth of the demand in the year 2001, must be met by uranium produced by mines to be newly developed. After 2019, demand cannot be met by the 123 mines currently in operation or expected to have gone into production by this year. The projected shortage must therefore be covered by uranium to be newly discovered. To preclude this occurrence, uranium exploration will have to be steadily continued in order to ensure future new uranium resources, to alleviate anxiety about future supply, and to prevent sharp price hikes. (author)

Evaluating Forecasting Models for Unemployment Rates by Gender in Selected European Countries

Directory of Open Access Journals (Sweden)

Ksenija Dumičić

2017-03-01

Full Text Available The unemployment can be considered as one of the main economic problems. The aim of this article is to examine the differences in male and female unemployment rates in selected European countries and to predict their future trends by using different statistical forecasting models. Furthermore, the impact of adding a new data point on the selection of the most appropriate statistical forecasting model and on the overall forecasting errors values is also evaluated. Male and female unemployment rates are observed for twelve European countries in the period from 1991 to 2014. Four statistical forecasting models have been selected and applied and the most appropriate model is considered to be the one with the lowest overall forecasting errors values. The analysis has shown that in the period from 1991 to 2014 the decreasing trend of unemployment rates in the short-run is forecasted for more Eastern Balkan than the EU-28 countries. An additional data point for male and female unemployment rates in 2014 led to somewhat smaller forecasting errors in more than half of the observed countries. However, the additional data point does not necessarily improve forecasting performances of the used statistical forecasting models.

Positioning for a positive future: Cigar Lake mine starts production

International Nuclear Information System (INIS)

Gitzel, Tim

2014-01-01

This presentation includes forward-looking information or forward-looking statements under Canadian and U.S. securities laws, including our expectations regarding future world electricity consumption, the number of net new reactors we expect to be built, our expectations regarding future uranium supply and demand, our future uranium production targets and forecasts, and our forecasts relating to mining, mine life, production, development and other activities

Forecasting the Seasonal Timing of Maine's Lobster Fishery

Directory of Open Access Journals (Sweden)

Katherine E. Mills

2017-11-01

Full Text Available The fishery for American lobster is currently the highest-valued commercial fishery in the United States, worth over US$620 million in dockside value in 2015. During a marine heat wave in 2012, the fishery was disrupted by the early warming of spring ocean temperatures and subsequent influx of lobster landings. This situation resulted in a price collapse, as the supply chain was not prepared for the early and abundant landings of lobsters. Motivated by this series of events, we have developed a forecast of when the Maine (USA lobster fishery will shift into its high volume summer landings period. The forecast uses a regression approach to relate spring ocean temperatures derived from four NERACOOS buoys along the coast of Maine to the start day of the high landings period of the fishery. Tested against conditions in past years, the forecast is able to predict the start day to within 1 week of the actual start, and the forecast can be issued 3–4 months prior to the onset of the high-landings period, providing valuable lead-time for the fishery and its associated supply chain to prepare for the upcoming season. Forecast results are conveyed in a probabilistic manner and are updated weekly over a 6-week forecasting period so that users can assess the certainty and consistency of the forecast and factor the uncertainty into their use of the information in a given year. By focusing on the timing of events, this type of seasonal forecast provides climate-relevant information to users at time scales that are meaningful for operational decisions. As climate change alters seasonal phenology and reduces the reliability of past experience as a guide for future expectations, this type of forecast can enable fishing industry participants to better adjust to and prepare for operating in the context of climate change.

Combining high frequency data with non-linear models for forecasting energy market volatility

Czech Academy of Sciences Publication Activity Database

Baruník, Jozef; Křehlík, Tomáš

2016-01-01

Roč. 55, č. 1 (2016), s. 222-242 ISSN 0957-4174 R&D Projects: GA ČR(CZ) GBP402/12/G097 Institutional support: RVO:67985556 Keywords : artificial neural networks * realized volatility * multiple-step-ahead forecasts * energy markets Subject RIV: AH - Economics Impact factor: 3.928, year: 2016 http://library.utia.cas.cz/separaty/2016/E/barunik-0456185.pdf

Forecasting Housing Approvals in Australia: Do Forecasters Herd?

DEFF Research Database (Denmark)

Stadtmann, Georg; Pierdzioch; Rülke

2012-01-01

Price trends in housing markets may reflect herding of market participants. A natural question is whether such herding, to the extent that it occurred, reflects herding in forecasts of professional forecasters. Using more than 6,000 forecasts of housing approvals for Australia, we did not find...

Verification of ECMWF and ECMWF/MACC's global and direct irradiance forecasts with respect to solar electricity production forecasts

Directory of Open Access Journals (Sweden)

M. Schroedter-Homscheidt

2017-02-01

Full Text Available The successful electricity grid integration of solar energy into day-ahead markets requires at least hourly resolved 48 h forecasts. Technologies as photovoltaics and non-concentrating solar thermal technologies make use of global horizontal irradiance (GHI forecasts, while all concentrating technologies both from the photovoltaic and the thermal sector require direct normal irradiances (DNI. The European Centre for Medium-Range Weather Forecasts (ECMWF has recently changed towards providing direct as well as global irradiances. Additionally, the MACC (Monitoring Atmospheric Composition & Climate near-real time services provide daily analysis and forecasts of aerosol properties in preparation of the upcoming European Copernicus programme. The operational ECMWF/IFS (Integrated Forecast System forecast system will in the medium term profit from the Copernicus service aerosol forecasts. Therefore, within the MACC‑II project specific experiment runs were performed allowing for the assessment of the performance gain of these potential future capabilities. Also the potential impact of providing forecasts with hourly output resolution compared to three-hourly resolved forecasts is investigated. The inclusion of the new aerosol climatology in October 2003 improved both the GHI and DNI forecasts remarkably, while the change towards a new radiation scheme in 2007 only had minor and partly even unfavourable impacts on the performance indicators. For GHI, larger RMSE (root mean square error values are found for broken/overcast conditions than for scattered cloud fields. For DNI, the findings are opposite with larger RMSE values for scattered clouds compared to overcast/broken cloud situations. The introduction of direct irradiances as an output parameter in the operational IFS version has not resulted in a general performance improvement with respect to biases and RMSE compared to the widely used Skartveit et al. (1998 global to direct irradiance

Robust forecast comparison

OpenAIRE

Jin, Sainan; Corradi, Valentina; Swanson, Norman

2015-01-01

Forecast accuracy is typically measured in terms of a given loss function. However, as a consequence of the use of misspecified models in multiple model comparisons, relative forecast rankings are loss function dependent. This paper addresses this issue by using a novel criterion for forecast evaluation which is based on the entire distribution of forecast errors. We introduce the concepts of general-loss (GL) forecast superiority and convex-loss (CL) forecast superiority, and we establish a ...

Forecasting of electricity prices with neural networks

Energy Technology Data Exchange (ETDEWEB)

Gareta, Raquel [Centro de Investigacion de Recursos y Consumos Energeticos (CIRCE), Universidad de Zaragoza, Centro Politecnico Superior, Maria de Luna, 3, 50018 Zaragoza (Spain); Romeo, Luis M. [Centro de Investigacion de Recursos y Consumos Energeticos (CIRCE), Universidad de Zaragoza, Centro Politecnico Superior, Maria de Luna, 3, 50018 Zaragoza (Spain)]. E-mail: luismi@unizar.es; Gil, Antonia [Centro de Investigacion de Recursos y Consumos Energeticos (CIRCE), Universidad de Zaragoza, Centro Politecnico Superior, Maria de Luna, 3, 50018 Zaragoza (Spain)

2006-08-15

During recent years, the electricity energy market deregulation has led to a new free competition situation in Europe and other countries worldwide. Generators, distributors and qualified clients have some uncertainties about the future evolution of electricity markets. In consequence, feasibility studies of new generation plants, design of new systems and energy management optimization are frequently postponed. The ability of forecasting energy prices, for instance the electricity prices, would be highly appreciated in order to improve the profitability of utility investments. The development of new simulation techniques, such as Artificial Intelligence (AI), has provided a good tool to forecast time series. In this paper, it is demonstrated that the Neural Network (NN) approach can be used to forecast short term hourly electricity pool prices (for the next day and two or three days after). The NN architecture and design for prices forecasting are described in this paper. The results are tested with extensive data sets, and good agreement is found between actual data and NN results. This methodology could help to improve power plant generation capacity management and, certainly, more profitable operation in daily energy pools.

Forecasting of electricity prices with neural networks

International Nuclear Information System (INIS)

Gareta, Raquel; Romeo, Luis M.; Gil, Antonia

2006-01-01

During recent years, the electricity energy market deregulation has led to a new free competition situation in Europe and other countries worldwide. Generators, distributors and qualified clients have some uncertainties about the future evolution of electricity markets. In consequence, feasibility studies of new generation plants, design of new systems and energy management optimization are frequently postponed. The ability of forecasting energy prices, for instance the electricity prices, would be highly appreciated in order to improve the profitability of utility investments. The development of new simulation techniques, such as Artificial Intelligence (AI), has provided a good tool to forecast time series. In this paper, it is demonstrated that the Neural Network (NN) approach can be used to forecast short term hourly electricity pool prices (for the next day and two or three days after). The NN architecture and design for prices forecasting are described in this paper. The results are tested with extensive data sets, and good agreement is found between actual data and NN results. This methodology could help to improve power plant generation capacity management and, certainly, more profitable operation in daily energy pools

In-season retail sales forecasting using survival models

African Journals Online (AJOL)

Retail sales forecasting, survival analysis, time series analysis, Holt's smoothing .... where fx(t) is the probability density function of the future lifetime, Tx, of a .... Adjustments were made to the shape of the smoothed mortality rates in light of new.

The Wettzell System Monitoring Concept and First Realizations

Science.gov (United States)

Ettl, Martin; Neidhardt, Alexander; Muehlbauer, Matthias; Ploetz, Christian; Beaudoin, Christopher

2010-01-01

Automated monitoring of operational system parameters for the geodetic space techniques is becoming more important in order to improve the geodetic data and to ensure the safety and stability of automatic and remote-controlled observations. Therefore, the Wettzell group has developed the system monitoring software, SysMon, which is based on a reliable, remotely-controllable hardware/software realization. A multi-layered data logging system based on a fanless, robust industrial PC with an internal database system is used to collect data from several external, serial, bus, or PCI-based sensors. The internal communication is realized with Remote Procedure Calls (RPC) and uses generative programming with the interface software generator idl2rpc.pl developed at Wettzell. Each data monitoring stream can be configured individually via configuration files to define the logging rates or analog-digital-conversion parameters. First realizations are currently installed at the new laser ranging system at Wettzell to address safety issues and at the VLBI station O Higgins as a meteorological data logger. The system monitoring concept should be realized for the Wettzell radio telescope in the near future.

Assessing methods for developing crop forecasting in the Iberian Peninsula

Science.gov (United States)

Ines, A. V. M.; Capa Morocho, M. I.; Baethgen, W.; Rodriguez-Fonseca, B.; Han, E.; Ruiz Ramos, M.

2015-12-01

Seasonal climate prediction may allow predicting crop yield to reduce the vulnerability of agricultural production to climate variability and its extremes. It has been already demonstrated that seasonal climate predictions at European (or Iberian) scale from ensembles of global coupled climate models have some skill (Palmer et al., 2004). The limited predictability that exhibits the atmosphere in mid-latitudes, and therefore de Iberian Peninsula (PI), can be managed by a probabilistic approach based in terciles. This study presents an application for the IP of two methods for linking tercile-based seasonal climate forecasts with crop models to improve crop predictability. Two methods were evaluated and applied for disaggregating seasonal rainfall forecasts into daily weather realizations: 1) a stochastic weather generator and 2) a forecast tercile resampler. Both methods were evaluated in a case study where the impacts of two seasonal rainfall forecasts (wet and dry forecast for 1998 and 2015 respectively) on rainfed wheat yield and irrigation requirements of maize in IP were analyzed. Simulated wheat yield and irrigation requirements of maize were computed with the crop models CERES-wheat and CERES-maize which are included in Decision Support System for Agrotechnology Transfer (DSSAT v.4.5, Hoogenboom et al., 2010). Simulations were run at several locations in Spain where the crop model was calibrated and validated with independent field data. These methodologies would allow quantifying the benefits and risks of a seasonal climate forecast to potential users as farmers, agroindustry and insurance companies in the IP. Therefore, we would be able to establish early warning systems and to design crop management adaptation strategies that take advantage of favorable conditions or reduce the effect of adverse ones. ReferencesPalmer, T. et al., 2004. Development of a European multimodel ensemble system for seasonal-to-interannual prediction (DEMETER). Bulletin of the

Can energy forecasts be improved?

International Nuclear Information System (INIS)

Rech, O.; Alban, P.

2000-01-01

Within the present day context of energy, characterized by the gap between short term trends and long term risks, forecasting takes on particular interest. We based our study on the evaluation of the results of some of these long term (2020) and very long term (2050) forecasts. This article looks at the overall demand for energy, whereas the evolution of each primary energy will be handled in a future article. We are restricting our analysis to a global level despite the inherent limitations of such a choice. Our approach mainly concentrates on the dynamics of the phenomena. Thus, we have noticed a simultaneous slowing down since the 1960's of the demography, economy and energy. The revenue and energy consumption per capita do not elude this tendency. At the same time, energy production leads a steep downward tendency. All in all, the forecasts have a tendency to conflict more or less with these changes. In the majority of the scenarios the anticipated rhythms of economic change and energy consumption would indicate a sudden and abrupt inverse of current dynamics. We have noticed that the single use of the average annual rate of change is insufficient to clearly present the long term tendencies that follow curved and not linear paths. Diagnostic errors made in past analyses are likely to affect the models for forecasting, for which the inferred dynamics have not been fully apprehended

Probabilistic Price Forecasting for Day-Ahead and Intraday Markets: Beyond the Statistical Model

Directory of Open Access Journals (Sweden)

José R. Andrade

2017-10-01

Full Text Available Forecasting the hourly spot price of day-ahead and intraday markets is particularly challenging in electric power systems characterized by high installed capacity of renewable energy technologies. In particular, periods with low and high price levels are difficult to predict due to a limited number of representative cases in the historical dataset, which leads to forecast bias problems and wide forecast intervals. Moreover, these markets also require the inclusion of multiple explanatory variables, which increases the complexity of the model without guaranteeing a forecasting skill improvement. This paper explores information from daily futures contract trading and forecast of the daily average spot price to correct point and probabilistic forecasting bias. It also shows that an adequate choice of explanatory variables and use of simple models like linear quantile regression can lead to highly accurate spot price point and probabilistic forecasts. In terms of point forecast, the mean absolute error was 3.03 €/MWh for day-ahead market and a maximum value of 2.53 €/MWh was obtained for intraday session 6. The probabilistic forecast results show sharp forecast intervals and deviations from perfect calibration below 7% for all market sessions.

Sensitivity of monthly streamflow forecasts to the quality of rainfall forcing: When do dynamical climate forecasts outperform the Ensemble Streamflow Prediction (ESP) method?

Science.gov (United States)

Tanguy, M.; Prudhomme, C.; Harrigan, S.; Smith, K. A.; Parry, S.

2017-12-01

Forecasting hydrological extremes is challenging, especially at lead times over 1 month for catchments with limited hydrological memory and variable climates. One simple way to derive monthly or seasonal hydrological forecasts is to use historical climate data to drive hydrological models using the Ensemble Streamflow Prediction (ESP) method. This gives a range of possible future streamflow given known initial hydrologic conditions alone. The degree of skill of ESP depends highly on the forecast initialisation month and catchment type. Using dynamic rainfall forecasts as driving data instead of historical data could potentially improve streamflow predictions. A lot of effort is being invested within the meteorological community to improve these forecasts. However, while recent progress shows promise (e.g. NAO in winter), the skill of these forecasts at monthly to seasonal timescales is generally still limited, and the extent to which they might lead to improved hydrological forecasts is an area of active research. Additionally, these meteorological forecasts are currently being produced at 1 month or seasonal time-steps in the UK, whereas hydrological models require forcings at daily or sub-daily time-steps. Keeping in mind these limitations of available rainfall forecasts, the objectives of this study are to find out (i) how accurate monthly dynamical rainfall forecasts need to be to outperform ESP, and (ii) how the method used to disaggregate monthly rainfall forecasts into daily rainfall time series affects results. For the first objective, synthetic rainfall time series were created by increasingly degrading observed data (proxy for a `perfect forecast') from 0 % to +/-50 % error. For the second objective, three different methods were used to disaggregate monthly rainfall data into daily time series. These were used to force a simple lumped hydrological model (GR4J) to generate streamflow predictions at a one-month lead time for over 300 catchments

Forecasting European Wildfires Today and in the Future

Science.gov (United States)

Navarro Abellan, Maria; Porras Alegre, Ignasi; María Sole, Josep; Gálvez, Pedro; Bielski, Conrad; Nurmi, Pertti

2017-04-01

Society as a whole is increasingly exposed and vulnerable to natural disasters due to extreme weather events exacerbated by climate change. The increased frequency of wildfires is not only a result of a changing climate, but wildfires themselves also produce a significant amount of greenhouse gases that, in-turn, further contribute to global warming. I-REACT (Improving Resilience to Emergencies through Advanced Cyber Technologies) is an innovation project funded by the European Commission , which aims to use social media, smartphones and wearables to improve natural disaster management by integrating existing services, both local and European, into a platform that supports the entire emergency management cycle. In order to assess the impact of climate change on wildfire hazards, METEOSIM designed two different System Processes (SP) that will be integrated into the I-REACT service that can provide information on a variety of time scales. SP1 - Climate Change Impact The climate change impact on climate variables related to fires is calculated by building an ensemble based on the Coupled Model Intercomparison Project Phase 5 (CMIP5) and CORDEX data. A validation and an Empirical-Statistical Downscaling (ESD) calibration are done to assess the changes in the past of the climatic variables related to wildfires (temperature, precipitation, wind, relative humidity and Fire Weather Index). Calculations in the trend and the frequency of extreme events of those variables are done for three time scales: near-term (2011-2040), mid-term (2041-2070) and long term (2071-2100). SP2 - Operational daily forecast of the Canadian Forest Fire Weather Index (FWI) Using ensemble data from the ECMWF and from the GLAMEPS (multi-model ensemble) models, both supplied by the Finnish Meteorological Institute (FMI), the Fire Weather Index (FWI) and its index components are produced for each ensemble member within a wide forecast time range, from a few hours up to 10 days resulting in a

A hybrid spatiotemporal drought forecasting model for operational use

Science.gov (United States)

Vasiliades, L.; Loukas, A.

2010-09-01

Drought forecasting plays an important role in the planning and management of natural resources and water resource systems in a river basin. Early and timelines forecasting of a drought event can help to take proactive measures and set out drought mitigation strategies to alleviate the impacts of drought. Spatiotemporal data mining is the extraction of unknown and implicit knowledge, structures, spatiotemporal relationships, or patterns not explicitly stored in spatiotemporal databases. As one of data mining techniques, forecasting is widely used to predict the unknown future based upon the patterns hidden in the current and past data. This study develops a hybrid spatiotemporal scheme for integrated spatial and temporal forecasting. Temporal forecasting is achieved using feed-forward neural networks and the temporal forecasts are extended to the spatial dimension using a spatial recurrent neural network model. The methodology is demonstrated for an operational meteorological drought index the Standardized Precipitation Index (SPI) calculated at multiple timescales. 48 precipitation stations and 18 independent precipitation stations, located at Pinios river basin in Thessaly region, Greece, were used for the development and spatiotemporal validation of the hybrid spatiotemporal scheme. Several quantitative temporal and spatial statistical indices were considered for the performance evaluation of the models. Furthermore, qualitative statistical criteria based on contingency tables between observed and forecasted drought episodes were calculated. The results show that the lead time of forecasting for operational use depends on the SPI timescale. The hybrid spatiotemporal drought forecasting model could be operationally used for forecasting up to three months ahead for SPI short timescales (e.g. 3-6 months) up to six months ahead for large SPI timescales (e.g. 24 months). The above findings could be useful in developing a drought preparedness plan in the region.

ARIMA MODEL BUILDING AND FORECASTING ON IMPORTS AND EXPORTS OF PAKISTAN

Directory of Open Access Journals (Sweden)

Ahmad Farooqi

2014-08-01

Full Text Available From the day one, mankind has always been interested in to the future. As the civilization advanced with growing sophistication in all phases of life, the need to look in to the future also grew with it. Today every government, public private organizations, as well as an individual would like to predict and plan for the future. In order to attain a better growth in the economy of a country, modeling and forecasting is the most important tool now a day, this can be done by one of the statistical technique called a Time series analysis. In this paper we tried to build a time series model called ARIMA (Auto Regressive Integrated Moving Average model with particular reference of Box and Jenkins approach on annually total Imports and Exports of Pakistan from the year 1947 to the year 2013 with useful statistical software R. Validity of the fitted model is tested using standard statistical techniques. The fitted model is then use to forecast some future values of Imports and export of Pakistan. It is found that an ARIMA (2, 2, 2 and ARIMA (1, 2, 2 model looks suitable to forecast the annual Imports and Exports of Pakistan respectively. We also found an increasing trend both in case of Imports and Exports during this study.

Forecasting Skill

Science.gov (United States)

1981-01-01

for the third and fourth day precipitation forecasts. A marked improvement was shown for the consensus 24 hour precipitation forecast, and small... Zuckerberg (1980) found a small long term skill increase in forecasts of heavy snow events for nine eastern cities. Other National Weather Service...and maximum temperature) are each awarded marks 2, 1, or 0 according to whether the forecast is correct, 8 - *- -**■*- ———"—- - -■ t0m 1 MM—IB I

Demonstrating the value of larger ensembles in forecasting physical systems

Directory of Open Access Journals (Sweden)

Reason L. Machete

2016-12-01

Full Text Available Ensemble simulation propagates a collection of initial states forward in time in a Monte Carlo fashion. Depending on the fidelity of the model and the properties of the initial ensemble, the goal of ensemble simulation can range from merely quantifying variations in the sensitivity of the model all the way to providing actionable probability forecasts of the future. Whatever the goal is, success depends on the properties of the ensemble, and there is a longstanding discussion in meteorology as to the size of initial condition ensemble most appropriate for Numerical Weather Prediction. In terms of resource allocation: how is one to divide finite computing resources between model complexity, ensemble size, data assimilation and other components of the forecast system. One wishes to avoid undersampling information available from the model's dynamics, yet one also wishes to use the highest fidelity model available. Arguably, a higher fidelity model can better exploit a larger ensemble; nevertheless it is often suggested that a relatively small ensemble, say ~16 members, is sufficient and that larger ensembles are not an effective investment of resources. This claim is shown to be dubious when the goal is probabilistic forecasting, even in settings where the forecast model is informative but imperfect. Probability forecasts for a ‘simple’ physical system are evaluated at different lead times; ensembles of up to 256 members are considered. The pure density estimation context (where ensemble members are drawn from the same underlying distribution as the target differs from the forecasting context, where one is given a high fidelity (but imperfect model. In the forecasting context, the information provided by additional members depends also on the fidelity of the model, the ensemble formation scheme (data assimilation, the ensemble interpretation and the nature of the observational noise. The effect of increasing the ensemble size is quantified by

Forecasting electricity consumption in Pakistan: the way forward

International Nuclear Information System (INIS)

Hussain, Anwar; Rahman, Muhammad; Memon, Junaid Alam

2016-01-01

Growing shortfall of electricity in Pakistan affects almost all sectors of its economy. For proper policy formulation, it is imperative to have reliable forecasts of electricity consumption. This paper applies Holt-Winter and Autoregressive Integrated Moving Average (ARIMA) models on time series secondary data from 1980 to 2011 to forecast total and component wise electricity consumption in Pakistan. Results reveal that Holt-Winter is the appropriate model for forecasting electricity consumption in Pakistan. It also suggests that electricity consumption would continue to increase throughout the projected period and widen the consumption-production gap in case of failure to respond the issue appropriately. It further reveals that demand would be highest in the household sector as compared to all other sectors and the increase in the energy generation would be less than the increase in total electricity consumption throughout the projected period. The study discuss various options to reduce the demand-supply gap and provide reliable electricity to different sectors of the economy. - Highlights: • We forecast total and component wise electricity consumption for Pakistan. • Electricity shortfall in Pakistan will increase in future if same situation exists. • Various options exist to cope with the electricity crisis in the country. • Holt-winter model gives best forecasts for electricity consumption in the country.

FUTURE CLIMATE ANALYSIS

International Nuclear Information System (INIS)

R.M. Forester

2000-01-01

This Analysis/Model Report (AMR) documents an analysis that was performed to estimate climatic variables for the next 10,000 years by forecasting the timing and nature of climate change at Yucca Mountain (YM), Nevada (Figure l), the site of a potential repository for high-level radioactive waste. The future-climate estimates are based on an analysis of past-climate data from analog meteorological stations, and this AMR provides the rationale for the selection of these analog stations. The stations selected provide an upper and a lower climate bound for each future climate, and the data from those sites will provide input to the infiltration model (USGS 2000) and for the total system performance assessment for the Site Recommendation (TSPA-SR) at YM. Forecasting long-term future climates, especially for the next 10,000 years, is highly speculative and rarely attempted. A very limited literature exists concerning the subject, largely from the British radioactive waste disposal effort. The discussion presented here is one method, among many, of establishing upper and lower bounds for future climate estimates. The method used here involves selecting a particular past climate from many past climates, as an analog for future climate. Other studies might develop a different rationale or select other past climates resulting in a different future climate analog

FUTURE CLIMATE ANALYSIS

Energy Technology Data Exchange (ETDEWEB)

R.M. Forester

2000-03-14

This Analysis/Model Report (AMR) documents an analysis that was performed to estimate climatic variables for the next 10,000 years by forecasting the timing and nature of climate change at Yucca Mountain (YM), Nevada (Figure l), the site of a potential repository for high-level radioactive waste. The future-climate estimates are based on an analysis of past-climate data from analog meteorological stations, and this AMR provides the rationale for the selection of these analog stations. The stations selected provide an upper and a lower climate bound for each future climate, and the data from those sites will provide input to the infiltration model (USGS 2000) and for the total system performance assessment for the Site Recommendation (TSPA-SR) at YM. Forecasting long-term future climates, especially for the next 10,000 years, is highly speculative and rarely attempted. A very limited literature exists concerning the subject, largely from the British radioactive waste disposal effort. The discussion presented here is one method, among many, of establishing upper and lower bounds for future climate estimates. The method used here involves selecting a particular past climate from many past climates, as an analog for future climate. Other studies might develop a different rationale or select other past climates resulting in a different future climate analog.

Thirty-year solid waste generation forecast for facilities at SRS

International Nuclear Information System (INIS)

1994-07-01

The information supplied by this 30-year solid waste forecast has been compiled as a source document to the Waste Management Environmental Impact Statement (WMEIS). The WMEIS will help to select a sitewide strategic approach to managing present and future Savannah River Site (SRS) waste generated from ongoing operations, environmental restoration (ER) activities, transition from nuclear production to other missions, and decontamination and decommissioning (D ampersand D) programs. The EIS will support project-level decisions on the operation of specific treatment, storage, and disposal facilities within the near term (10 years or less). In addition, the EIS will provide a baseline for analysis of future waste management activities and a basis for the evaluation of the specific waste management alternatives. This 30-year solid waste forecast will be used as the initial basis for the EIS decision-making process. The Site generates and manages many types and categories of waste. With a few exceptions, waste types are divided into two broad groups-high-level waste and solid waste. High-level waste consists primarily of liquid radioactive waste, which is addressed in a separate forecast and is not discussed further in this document. The waste types discussed in this solid waste forecast are sanitary waste, hazardous waste, low-level mixed waste, low-level radioactive waste, and transuranic waste. As activities at SRS change from primarily production to primarily decontamination and decommissioning and environmental restoration, the volume of each waste s being managed will change significantly. This report acknowledges the changes in Site Missions when developing the 30-year solid waste forecast

Forecasting Exchange Rate Density Using Parametric Models: the Case of Brazil

Directory of Open Access Journals (Sweden)

Benjamin Miranda Tabak

2007-06-01

Full Text Available This paper employs a recently developed parametric technique to obtain density forecasts for the Brazilian exchange rate, using the exchange rate options market. Empirical results suggest that the option market contains useful information about future exchange rate density. These results suggests that density forecasts using options markets may add value for portfolio and risk management, and may be useful for financial regulators to assess financial stability.

Extended Kalman Filter framework for forecasting shoreline evolution

Science.gov (United States)

Long, Joseph; Plant, Nathaniel G.

2012-01-01

A shoreline change model incorporating both long- and short-term evolution is integrated into a data assimilation framework that uses sparse observations to generate an updated forecast of shoreline position and to estimate unobserved geophysical variables and model parameters. Application of the assimilation algorithm provides quantitative statistical estimates of combined model-data forecast uncertainty which is crucial for developing hazard vulnerability assessments, evaluation of prediction skill, and identifying future data collection needs. Significant attention is given to the estimation of four non-observable parameter values and separating two scales of shoreline evolution using only one observable morphological quantity (i.e. shoreline position).

Evaluating information in multiple horizon forecasts. The DOE's energy price forecasts

International Nuclear Information System (INIS)

Sanders, Dwight R.; Manfredo, Mark R.; Boris, Keith

2009-01-01

The United States Department of Energy's (DOE) quarterly price forecasts for energy commodities are examined to determine the incremental information provided at the one-through four-quarter forecast horizons. A direct test for determining information content at alternative forecast horizons, developed by Vuchelen and Gutierrez [Vuchelen, J. and Gutierrez, M.-I. 'A Direct Test of the Information Content of the OECD Growth Forecasts.' International Journal of Forecasting. 21(2005):103-117.], is used. The results suggest that the DOE's price forecasts for crude oil, gasoline, and diesel fuel do indeed provide incremental information out to three-quarters ahead, while natural gas and electricity forecasts are informative out to the four-quarter horizon. In contrast, the DOE's coal price forecasts at two-, three-, and four-quarters ahead provide no incremental information beyond that provided for the one-quarter horizon. Recommendations of how to use these results for making forecast adjustments is also provided. (author)

Future Climate Analysis

Energy Technology Data Exchange (ETDEWEB)

C. G. Cambell

2004-09-03

This report documents an analysis that was performed to estimate climatic variables for the next 10,000 years by forecasting the timing and nature of climate change at Yucca Mountain, Nevada, the site of a repository for spent nuclear fuel and high-level radioactive waste. The future-climate estimates are based on an analysis of past-climate data from analog meteorological stations, and this report provides the rationale for the selection of these analog stations. The stations selected provide an upper and a lower climate bound for each future climate, and the data from those sites will provide input to the following reports: ''Simulation of Net Infiltration for Present-Day and Potential Future Climates'' (BSC 2004 [DIRS 170007]), ''Total System Performance Assessment (TSPA) Model/Analysis for the License Application'' (BSC 2004 [DIRS 168504]), ''Features, Events, and Processes in UZ Flow and Transport'' (BSC 2004 [DIRS 170012]), and ''Features, Events, and Processes in SZ Flow and Transport'' (BSC 2004 [DIRS 170013]). Forecasting long-term future climates, especially for the next 10,000 years, is highly speculative and rarely attempted. A very limited literature exists concerning the subject, largely from the British radioactive waste disposal effort. The discussion presented here is one available forecasting method for establishing upper and lower bounds for future climate estimates. The selection of different methods is directly dependent on the available evidence used to build a forecasting argument. The method used here involves selecting a particular past climate from many past climates, as an analog for future climate. While alternative analyses are possible for the case presented for Yucca Mountain, the evidence (data) used would be the same and the conclusions would not be expected to drastically change. Other studies might develop a different rationale or select other past

Long-term flow forecasts based on climate and hydrologic modeling: Uruguay River basin

Science.gov (United States)

Tucci, Carlos Eduardo Morelli; Clarke, Robin Thomas; Collischonn, Walter; da Silva Dias, Pedro Leite; de Oliveira, Gilvan Sampaio

2003-07-01

This paper describes a procedure for predicting seasonal flow in the Rio Uruguay drainage basin (area 75,000 km2, lying in Brazilian territory), using sequences of future daily rainfall given by the global climate model (GCM) of the Brazilian agency for climate prediction (Centro de Previsão de Tempo e Clima, or CPTEC). Sequences of future daily rainfall given by this model were used as input to a rainfall-runoff model appropriate for large drainage basins. Forecasts of flow in the Rio Uruguay were made for the period 1995-2001 of the full record, which began in 1940. Analysis showed that GCM forecasts underestimated rainfall over almost all the basin, particularly in winter, although interannual variability in regional rainfall was reproduced relatively well. A statistical procedure was used to correct for the underestimation of rainfall. When the corrected rainfall sequences were transformed to flow by the hydrologic model, forecasts of flow in the Rio Uruguay basin were better than forecasts based on historic mean or median flows by 37% for monthly flows and by 54% for 3-monthly flows.

Forecasting with the Standardized Self-Perturbed Kalman Filter

DEFF Research Database (Denmark)

Grassi, Stefano; Nonejad, Nima; Santucci de Magistris, Paolo

We propose and study the finite-sample properties of a modified version of the self-perturbed Kalman filter of Park and Jun (1992) for the on-line estimation of models subject to parameter instability. The perturbation term in the updating equation of the state covariance matrix is now weighted...... compared to other on-line, classical and Bayesian methods. The standardized self-perturbed Kalman filter is adopted to forecast the equity premium on the S&P500 index under several model specifications, and to investigate to what extent and how realized variance can be exploited to predict excess returns....

PREFACE: Nanospintronics design and realization

Science.gov (United States)

Akai, Hisazumi; Katayama-Yoshida, Hiroshi; Kasai, Hideaki

2004-12-01

This special issue of Journal of Physics: Condensed Matter contains selected papers from the 1st International Conference on Nanospintronics Design and Realization (ICNDR 2004), which was held in Kyoto, Japan, 24--28 May 2004. This conference was organized by the Nanospintronics Design and Realization project members: Hideaki Kasai, Osaka (Chair of the Conference) Hisazumi Akai, Osaka Hajime Asahi, Osaka Wilson Agerico Diño, Osaka Hiroshi Harima, Kyoto Tomoyuki Kakeshita, Osaka Junjiro Kanamori, Kyoto Hiroshi Katayama-Yoshida, Osaka Koichi Kusakabe, Osaka Hiroshi Nakanishi, Osaka (Secretary) Tamio Oguchi, Hiroshima Teruo Ono, Osaka Naoshi Suzuki, Osaka Hitoshi Tabata, Osaka under the auspices of the Japan Ministry of Education, Culture, Sports, Science and Technology (MEXT) Special Coordination Funds for Promoting Science and Technology, and the sponsorship of Osaka University and the International Institute for Advanced Studies (IIAS). The conference is intended to provide an international forum for experimental and theoretical researchers, in the rapidly developing field of nanospintronics. It aims to: provide an overview of our current understanding of the physics of spin transport in (magnetic) semiconductors and hybrid magnetic/semiconductor structures; provide a venue to present and discuss the latest developments in using spin-dependent phenomena in nano-(opto-) electronics and computing applications; provide a venue for discussion and assessment of other possible means of exploiting the spin-dependent phenomena in future nano-(opto-) electronic and computing applications; address current (and foreseeable future) problems, of fundamental and applied nature, in an effort to bridge the physics and technology gap between semiconducting and magnetic materials. All of these being geared towards bringing about the realization of a functioning nanospintronics. A total of 127 delegates from 15 countries took part in ICNDR 2004, which was comprised of 62 invited

Equipment for the forecast and operating control of the natural catastrophes dynamics

International Nuclear Information System (INIS)

Kazansev, S.I.; Koblik, Yu.N.; Yuldashev, B.S.; Kuzhevskij, B.M.; Nechaev, O.Yu.

2004-01-01

Full text: Necessity of the solution of forecast the natural catastrophes such as: earthquakes, the volcanic activity stirring up, origin of the mud flows, landslides, sudden moving of pulsating glaciers, awesome atmospheric phenomena is realized a long time ago. However numerous attempts to find the solution yet have not yielded desirable result. Representative example to this is the absence to the present time of the physically justified earthquake forecast. Perennial observations of the Earth neutron field with the help of designed by us equipment, both in seismically active regions (Tien - Shan, Pamir, Kamchatka) and in seismically quiet regions (Moscow and Tver regions) demonstrated, that the variations of neutron radiation near the earth crust allow us to elaborate near-term (tens hours, some day) the earthquakes forecast. These researches have also revealed correlation between variations of neutron and magnetic fields of the Earth. In this connection it is represented, that a hardware complex permitting simultaneously to watch variations of a neutron radiation near the earth crust and variation of a magnetic field of the Earth will appear sufficient for the purposes of a short forecast of natural debacles and, besides will allow us to execute the operating control of temporary development of already happened event

Equipment for the forecast and operating control of the natural catastrophes dynamics

International Nuclear Information System (INIS)

Kazantsev, S.I.; Koblik, Yu.N.; Yuldashev, B.S.; Kuzhevskij, B.M.; Nechaev, O.Yu.

2004-01-01

Necessity of the solution of forecast the natural catastrophes such as: earthquakes, the volcanic activity stirring up, origin of the mud flows, landslides, sudden moving of pulsating glaciers, awesome atmospheric phenomena is realized a long time ago. However numerous attempts to find the solution yet have not yielded desirable result. Representative example to this is the absence to the present time of the physically justified earthquake forecast. Perennial observations of the Earth neutron field with the help of designed by us equipment, both in seismically active regions (Tien - Shan, Pamir, Kamchatka) and in seismically quiet regions (Moscow and Tver regions) demonstrated, that the variations of neutron radiation near the earth crust allow us to elaborate near-term (tens hours, some day) the earthquakes forecast. These researches have also revealed correlation between variations of neutron and magnetic fields of the Earth. In this connection it is represented, that a hardware complex permitting simultaneously to watch variations of a neutron radiation near the earth crust and variation of a magnetic field of the Earth will appear sufficient for the purposes of a short forecast of natural debacles and, besides will allow us to execute the operating control of temporary development of already happened event. (author)

A new forecast presentation tool for offshore contractors

Science.gov (United States)

Jørgensen, M.

2009-09-01

Contractors working off shore are often very sensitive to both sea and weather conditions, and it's essential that they have easy access to reliable information on coming conditions to enable planning of when to start or shut down offshore operations to avoid loss of life and materials. Danish Meteorological Institute, DMI, recently, in cooperation with business partners in the field, developed a new application to accommodate that need. The "Marine Forecast Service” is a browser based forecast presentation tool. It provides an interface for the user to enable easy and quick access to all relevant meteorological and oceanographic forecasts and observations for a given area of interest. Each customer gains access to the application via a standard login/password procedure. Once logged in, the user can inspect animated forecast maps of parameters like wind, gust, wave height, swell and current among others. Supplementing the general maps, the user can choose to look at forecast graphs for each of the locations where the user is running operations. These forecast graphs can also be overlaid with the user's own in situ observations, if such exist. Furthermore, the data from the graphs can be exported as data files that the customer can use in his own applications as he desires. As part of the application, a forecaster's view on the current and near future weather situation is presented to the user as well, adding further value to the information presented through maps and graphs. Among other features of the product, animated radar and satellite images could be mentioned. And finally the application provides the possibility of a "second opinion” through traditional weather charts from another recognized provider of weather forecasts. The presentation will provide more detailed insights into the contents of the applications as well as some of the experiences with the product.

Load Forecasting in Electric Utility Integrated Resource Planning

Energy Technology Data Exchange (ETDEWEB)

Carvallo, Juan Pablo [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Larsen, Peter H. [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Sanstad, Alan H [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Goldman, Charles A. [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

2017-07-19

Integrated resource planning (IRP) is a process used by many vertically-integrated U.S. electric utilities to determine least-cost/risk supply and demand-side resources that meet government policy objectives and future obligations to customers and, in many cases, shareholders. Forecasts of energy and peak demand are a critical component of the IRP process. There have been few, if any, quantitative studies of IRP long-run (planning horizons of two decades) load forecast performance and its relationship to resource planning and actual procurement decisions. In this paper, we evaluate load forecasting methods, assumptions, and outcomes for 12 Western U.S. utilities by examining and comparing plans filed in the early 2000s against recent plans, up to year 2014. We find a convergence in the methods and data sources used. We also find that forecasts in more recent IRPs generally took account of new information, but that there continued to be a systematic over-estimation of load growth rates during the period studied. We compare planned and procured resource expansion against customer load and year-to-year load growth rates, but do not find a direct relationship. Load sensitivities performed in resource plans do not appear to be related to later procurement strategies even in the presence of large forecast errors. These findings suggest that resource procurement decisions may be driven by other factors than customer load growth. Our results have important implications for the integrated resource planning process, namely that load forecast accuracy may not be as important for resource procurement as is generally believed, that load forecast sensitivities could be used to improve the procurement process, and that management of load uncertainty should be prioritized over more complex forecasting techniques.

Forecasting the value-at-risk of Chinese stock market using the HARQ model and extreme value theory

Science.gov (United States)

Liu, Guangqiang; Wei, Yu; Chen, Yongfei; Yu, Jiang; Hu, Yang

2018-06-01

Using intraday data of the CSI300 index, this paper discusses value-at-risk (VaR) forecasting of the Chinese stock market from the perspective of high-frequency volatility models. First, we measure the realized volatility (RV) with 5-minute high-frequency returns of the CSI300 index and then model it with the newly introduced heterogeneous autoregressive quarticity (HARQ) model, which can handle the time-varying coefficients of the HAR model. Second, we forecast the out-of-sample VaR of the CSI300 index by combining the HARQ model and extreme value theory (EVT). Finally, using several popular backtesting methods, we compare the VaR forecasting accuracy of HARQ model with other traditional HAR-type models, such as HAR, HAR-J, CHAR, and SHAR. The empirical results show that the novel HARQ model can beat other HAR-type models in forecasting the VaR of the Chinese stock market at various risk levels.

Ensemble averaging and stacking of ARIMA and GSTAR model for rainfall forecasting

Science.gov (United States)

Anggraeni, D.; Kurnia, I. F.; Hadi, A. F.

2018-04-01

Unpredictable rainfall changes can affect human activities, such as in agriculture, aviation, shipping which depend on weather forecasts. Therefore, we need forecasting tools with high accuracy in predicting the rainfall in the future. This research focus on local forcasting of the rainfall at Jember in 2005 until 2016, from 77 rainfall stations. The rainfall here was not only related to the occurrence of the previous of its stations, but also related to others, it’s called the spatial effect. The aim of this research is to apply the GSTAR model, to determine whether there are some correlations of spatial effect between one to another stations. The GSTAR model is an expansion of the space-time model that combines the time-related effects, the locations (stations) in a time series effects, and also the location it self. The GSTAR model will also be compared to the ARIMA model that completely ignores the independent variables. The forcested value of the ARIMA and of the GSTAR models then being combined using the ensemble forecasting technique. The averaging and stacking method of ensemble forecasting method here provide us the best model with higher acuracy model that has the smaller RMSE (Root Mean Square Error) value. Finally, with the best model we can offer a better local rainfall forecasting in Jember for the future.

National Forecast Charts

Science.gov (United States)

code. Press enter or select the go button to submit request Local forecast by "City, St" or Prediction Center on Twitter NCEP Quarterly Newsletter WPC Home Analyses and Forecasts National Forecast to all federal, state, and local government web resources and services. National Forecast Charts

(Some) Computer Futures: Mainframes.

Science.gov (United States)

Joseph, Earl C.

Possible futures for the world of mainframe computers can be forecast through studies identifying forces of change and their impact on current trends. Some new prospects for the future have been generated by advances in information technology; for example, recent United States successes in applied artificial intelligence (AI) have created new…

Initial results with time series forecasting of TJ-II heliac waveforms

International Nuclear Information System (INIS)

Farias, G.; Dormido-Canto, S.; Vega, J.; Díaz, N.

2015-01-01

This article discusses about how to apply forecasting techniques to predict future samples of plasma signals during a discharge. One application of the forecasting could be to detect in real time anomalous behaviors in fusion waveforms. The work describes the implementation of three prediction techniques; two of them based on machine learning methods such as artificial neural networks and support vector machines for regression. The results have shown that depending on the temporal horizon, the predictions match the real samples in most cases with an error less than 5%, even more the forecasting of five samples ahead can reach accuracy over 90% in most signals analyzed.

Forecasting telecommunication new service demand by analogy method and combined forecast

Directory of Open Access Journals (Sweden)

Lin Feng-Jenq

2005-01-01

Full Text Available In the modeling forecast field, we are usually faced with the more difficult problems of forecasting market demand for a new service or product. A new service or product is defined as that there is absence of historical data in this new market. We hardly use models to execute the forecasting work directly. In the Taiwan telecommunication industry, after liberalization in 1996, there are many new services opened continually. For optimal investment, it is necessary that the operators, who have been granted the concessions and licenses, forecast this new service within their planning process. Though there are some methods to solve or avoid this predicament, in this paper, we will propose one forecasting procedure that integrates the concept of analogy method and the idea of combined forecast to generate new service forecast. In view of the above, the first half of this paper describes the procedure of analogy method and the approach of combined forecast, and the second half provides the case of forecasting low-tier phone demand in Taiwan to illustrate this procedure's feasibility.

The nuclear energy of the future: the researches and the objectives; L'energie nucleaire du futur: quelles recherches pour quels objectifs?

Energy Technology Data Exchange (ETDEWEB)

NONE

2005-07-01

Today energy problems are global problems. That is why the new generation of energy production by nuclear power must be realized basely on serious forecasts at a world scale. The nuclear energy presents many trumps for an energetic answer, at long-dated, concerning the environment and the resources. This will be for two main conditions: the ability to answer the public opinion anxiety and the development of new systems more high- performance in terms of safety and economy in the framework of the sustainable development and the non proliferation policy. These subjects are at the earth of the CEA missions. This document proposes a detailed presentation of the nuclear origins, the fuel and its cycle, the radioactive wastes and their management,the dismantling and the decommissioning of the nuclear installations, the challenges of the nuclear safety, the energy in the world, the nuclear economy, the nuclear in the world, the researches of the future, the third generation reactors, the research on radioactive wastes, the fuel cycle of the nuclear systems of the future, the uranium resources, the generation four forum, the gas coolant reactors, the thorium, hybrid systems and the thermonuclear fusion. (A.L.B.)

Unit commitment with wind power generation: integrating wind forecast uncertainty and stochastic programming.

Energy Technology Data Exchange (ETDEWEB)

Constantinescu, E. M.; Zavala, V. M.; Rocklin, M.; Lee, S.; Anitescu, M. (Mathematics and Computer Science); (Univ. of Chicago); (New York Univ.)

2009-10-09

We present a computational framework for integrating the state-of-the-art Weather Research and Forecasting (WRF) model in stochastic unit commitment/energy dispatch formulations that account for wind power uncertainty. We first enhance the WRF model with adjoint sensitivity analysis capabilities and a sampling technique implemented in a distributed-memory parallel computing architecture. We use these capabilities through an ensemble approach to model the uncertainty of the forecast errors. The wind power realizations are exploited through a closed-loop stochastic unit commitment/energy dispatch formulation. We discuss computational issues arising in the implementation of the framework. In addition, we validate the framework using real wind speed data obtained from a set of meteorological stations. We also build a simulated power system to demonstrate the developments.

Exploring the interactions between forecast accuracy, risk perception and perceived forecast reliability in reservoir operator's decision to use forecast

Science.gov (United States)

Shafiee-Jood, M.; Cai, X.

2017-12-01

Advances in streamflow forecasts at different time scales offer a promise for proactive flood management and improved risk management. Despite the huge potential, previous studies have found that water resources managers are often not willing to incorporate streamflow forecasts information in decisions making, particularly in risky situations. While low accuracy of forecasts information is often cited as the main reason, some studies have found that implementation of streamflow forecasts sometimes is impeded by institutional obstacles and behavioral factors (e.g., risk perception). In fact, a seminal study by O'Connor et al. (2005) found that risk perception is the strongest determinant of forecast use while managers' perception about forecast reliability is not significant. In this study, we aim to address this issue again. However, instead of using survey data and regression analysis, we develop a theoretical framework to assess the user-perceived value of streamflow forecasts. The framework includes a novel behavioral component which incorporates both risk perception and perceived forecast reliability. The framework is then used in a hypothetical problem where reservoir operator should react to probabilistic flood forecasts with different reliabilities. The framework will allow us to explore the interactions among risk perception and perceived forecast reliability, and among the behavioral components and information accuracy. The findings will provide insights to improve the usability of flood forecasts information through better communication and education.

Financial Risk Reduction and Management of Water Reservoirs Using Forecasts: A Case for Pernambuco, Brazil

Science.gov (United States)

Kumar, I.; Josset, L.; e Silva, E. C.; Possas, J. M. C.; Asfora, M. C.; Lall, U.

2017-12-01

The financial health and sustainability, ensuring adequate supply, and adapting to climate are fundamental challenges faced by water managers. These challenges are worsened in semi-arid regions with socio-economic pressures, seasonal supply of water, and projected increase in intensity and frequency of droughts. Over time, probabilistic rainfall forecasts are improving and for water managers, it could be key in addressing the above challenges. Using forecasts can also help make informed decisions about future infrastructure. The study proposes a model to minimize cost of water supply (including cost of deficit) given ensemble forecasts. The model can be applied to seasonal to annual ensemble forecasts, to determine the least cost solution. The objective of the model is to evaluate the resiliency and cost associated to supplying water. A case study is conducted in one of the largest reservoirs (Jucazinho) in Pernambuco state, Brazil, and four other reservoirs, which provide water to nineteen municipalities in the Jucazinho system. The state has been in drought since 2011, and the Jucazinho reservoir, has been empty since January 2017. The importance of climate adaptation along with risk management and financial sustainability are important to the state as it is extremely vulnerable to droughts, and has seasonal streamflow. The objectives of the case study are first, to check if streamflow forecasts help reduce future supply costs by comparing k-nearest neighbor ensemble forecasts with a fixed release policy. Second, to determine the value of future infrastructure, a new source of supply from Rio São Francisco, considered to mitigate drought conditions. The study concludes that using forecasts improve the supply and financial sustainability of water, by reducing cost of failure. It also concludes that additional infrastructure can help reduce the risks of failure significantly, but does not guarantee supply during prolonged droughts like the one experienced

Analysis and Synthesis of Load Forecasting Data for Renewable Integration Studies: Preprint

Energy Technology Data Exchange (ETDEWEB)

Steckler, N.; Florita, A.; Zhang, J.; Hodge, B. M.

2013-11-01

As renewable energy constitutes greater portions of the generation fleet, the importance of modeling uncertainty as part of integration studies also increases. In pursuit of optimal system operations, it is important to capture not only the definitive behavior of power plants, but also the risks associated with systemwide interactions. This research examines the dependence of load forecast errors on external predictor variables such as temperature, day type, and time of day. The analysis was utilized to create statistically relevant instances of sequential load forecasts with only a time series of historic, measured load available. The creation of such load forecasts relies on Bayesian techniques for informing and updating the model, thus providing a basis for networked and adaptive load forecast models in future operational applications.

U.S. Department of Energy Workshop Report: Solar Resources and Forecasting

Energy Technology Data Exchange (ETDEWEB)

Stoffel, T.

2012-06-01

This report summarizes the technical presentations, outlines the core research recommendations, and augments the information of the Solar Resources and Forecasting Workshop held June 20-22, 2011, in Golden, Colorado. The workshop brought together notable specialists in atmospheric science, solar resource assessment, solar energy conversion, and various stakeholders from industry and academia to review recent developments and provide input for planning future research in solar resource characterization, including measurement, modeling, and forecasting.

Impact of onsite solar generation on system load demand forecast

International Nuclear Information System (INIS)

Kaur, Amanpreet; Pedro, Hugo T.C.; Coimbra, Carlos F.M.

2013-01-01

Highlights: • We showed the impact onsite solar generation on system demand load forecast. • Forecast performance degrades by 9% and 3% for 1 h and 15 min forecast horizons. • Error distribution for onsite case is best characterized as t-distribution. • Relation between error, solar penetration and solar variability is characterized. - Abstract: Net energy metering tariffs have encouraged the growth of solar PV in the distribution grid. The additional variability associated with weather-dependent renewable energy creates new challenges for power system operators that must maintain and operate ancillary services to balance the grid. To deal with these issues power operators mostly rely on demand load forecasts. Electric load forecast has been used in power industry for a long time and there are several well established load forecasting models. But the performance of these models for future scenario of high renewable energy penetration is unclear. In this work, the impact of onsite solar power generation on the demand load forecast is analyzed for a community that meets between 10% and 15% of its annual power demand and 3–54% of its daily power demand from a solar power plant. Short-Term Load Forecasts (STLF) using persistence, machine learning and regression-based forecasting models are presented for two cases: (1) high solar penetration and (2) no penetration. Results show that for 1-h and 15-min forecasts the accuracy of the models drops by 9% and 3% with high solar penetration. Statistical analysis of the forecast errors demonstrate that the error distribution is best characterized as a t-distribution for the high penetration scenario. Analysis of the error distribution as a function of daily solar penetration for different levels of variability revealed that the solar power variability drives the forecast error magnitude whereas increasing penetration level has a much smaller contribution. This work concludes that the demand forecast error distribution

Ontario demand forecast from January 2004 to December 2013

International Nuclear Information System (INIS)

2003-01-01

This document examined the demand forecast for electricity on the Independent Market Operator (IMO)-controlled grid in Ontario for the period 2004-2013. It serves as an assessment tool to determine whether existing and proposed generation and transmission facilities in the province will be sufficient to meet future electricity needs. Changes in methodology have been made to allow for an hourly peak versus the previously reported 20-minute peak value. Actual data through to the end of October 2002 was used to re-estimate energy demand. Compared to other developed countries, the outlook for the Canadian economy is optimistic. In addition, the economic forecast is better than that which formed the basis of the last ten-year forecast. Energy demand in the median growth scenario is increasing at an annual rate of 1.1 per cent rather than 0.9 per cent for the forecasted period of 2003-2012. The combination of a higher growth rate and a higher starting point results in a 2010 forecast of 168 TWh. It is expected that peak demand will grow faster than in the previous forecast. Summer peak demand averaging an annual growth of 1.3 per cent is forecasted for the period 2003-2012, with winter peak demand averaging a growth of 0.8 per cent. Under normal weather conditions, the electricity system is expected to peak in the summer of 2005 due to the continued demand for cooling load. However, under an extreme weather scenario, the system is already summer peaking. The improved economic outlook and higher starting point resulted in a higher forecast for energy. The electricity system is expected to winter peak during the first years of the forecasted period. The heating load is not expected to experience rapid growth in the next few years. 15 tabs., 14 figs

Energy Consumption Forecasting for University Sector Buildings

Directory of Open Access Journals (Sweden)

Khuram Pervez Amber

2017-10-01

Full Text Available Reliable energy forecasting helps managers to prepare future budgets for their buildings. Therefore, a simple, easier, less time consuming and reliable forecasting model which could be used for different types of buildings is desired. In this paper, we have presented a forecasting model based on five years of real data sets for one dependent variable (the daily electricity consumption and six explanatory variables (ambient temperature, solar radiation, relative humidity, wind speed, weekday index and building type. A single mathematical equation for forecasting daily electricity usage of university buildings has been developed using the Multiple Regression (MR technique. Data of two such buildings, located at the Southwark Campus of London South Bank University in London, have been used for this study. The predicted test results of MR model are examined and judged against real electricity consumption data of both buildings for year 2011. The results demonstrate that out of six explanatory variables, three variables; surrounding temperature, weekday index and building type have significant influence on buildings energy consumption. The results of this model are associated with a Normalized Root Mean Square Error (NRMSE of 12% for the administrative building and 13% for the academic building. Finally, some limitations of this study have also been discussed.

Forecasting Hospitalization and Emergency Department Visit Rates for Chronic Obstructive Pulmonary Disease. A Time-Series Analysis.

Science.gov (United States)

Gershon, Andrea; Thiruchelvam, Deva; Moineddin, Rahim; Zhao, Xiu Yan; Hwee, Jeremiah; To, Teresa

2017-06-01

Knowing trends in and forecasting hospitalization and emergency department visit rates for chronic obstructive pulmonary disease (COPD) can enable health care providers, hospitals, and health care decision makers to plan for the future. We conducted a time-series analysis using health care administrative data from the Province of Ontario, Canada, to determine previous trends in acute care hospitalization and emergency department visit rates for COPD and then to forecast future rates. Individuals aged 35 years and older with physician-diagnosed COPD were identified using four universal government health administrative databases and a validated case definition. Monthly COPD hospitalization and emergency department visit rates per 1,000 people with COPD were determined from 2003 to 2014 and then forecasted to 2024 using autoregressive integrated moving average models. Between 2003 and 2014, COPD prevalence increased from 8.9 to 11.1%. During that time, there were 274,951 hospitalizations and 290,482 emergency department visits for COPD. After accounting for seasonality, we found that monthly COPD hospitalization and emergency department visit rates per 1,000 individuals with COPD remained stable. COPD prevalence was forecasted to increase to 12.7% (95% confidence interval [CI], 11.4-14.1) by 2024, whereas monthly COPD hospitalization and emergency department visit rates per 1,000 people with COPD were forecasted to remain stable at 2.7 (95% CI, 1.6-4.4) and 3.7 (95% CI, 2.3-5.6), respectively. Forecasted age- and sex-stratified rates were also stable. COPD hospital and emergency department visit rates per 1,000 people with COPD have been stable for more than a decade and are projected to remain stable in the near future. Given increasing COPD prevalence, this means notably more COPD health service use in the future.

A systematic review of health manpower forecasting models.

NARCIS (Netherlands)

Martins-Coelho, G.; Greuningen, M. van; Barros, H.; Batenburg, R.

2011-01-01

Context: Health manpower planning (HMP) aims at matching health manpower (HM) supply to the population’s health requirements. To achieve this, HMP needs information on future HM supply and requirement (S&R). This is estimated by several different forecasting models (FMs). In this paper, we review

Determining the bounds of skilful forecast range for probabilistic prediction of system-wide wind power generation

Directory of Open Access Journals (Sweden)

Dirk Cannon

2017-06-01

Full Text Available State-of-the-art wind power forecasts beyond a few hours ahead rely on global numerical weather prediction models to forecast the future large-scale atmospheric state. Often they provide initial and boundary conditions for nested high resolution simulations. In this paper, both upper and lower bounds on forecast range are identified within which global ensemble forecasts provide skilful information for system-wide wind power applications. An upper bound on forecast range is associated with the limit of predictability, beyond which forecasts have no more skill than predictions based on climatological statistics. A lower bound is defined at the lead time beyond which the resolved uncertainty associated with estimating the future large-scale atmospheric state is larger than the unresolved uncertainty associated with estimating the system-wide wind power response to a given large-scale state.The bounds of skilful ensemble forecast range are quantified for three leading global forecast systems. The power system of Great Britain (GB is used as an example because independent verifying data is available from National Grid. The upper bound defined by forecasts of GB-total wind power generation at a specific point in time is found to be 6–8 days. The lower bound is found to be 1.4–2.4 days. Both bounds depend on the global forecast system and vary seasonally. In addition, forecasts of the probability of an extreme power ramp event were found to possess a shorter limit of predictability (4.5–5.5 days. The upper bound on this forecast range can only be extended by improving the global forecast system (outside the control of most users or by changing the metric used in the probability forecast. Improved downscaling and microscale modelling of the wind farm response may act to decrease the lower bound. The potential gain from such improvements have diminishing returns beyond the short-range (out to around 2 days.

Innovative activity of high-technology companies as assessment and forecasting object

Directory of Open Access Journals (Sweden)

A. E. Sklyarov

2016-01-01

Full Text Available Innovation activities, as well as innovations, are closely related meanings, and like many others economical definitions, have a broad range of meanings. Main characteristics and attributes of innovation involves new or significantly improved product, that’s being used, or in other words, found its application, and innovative activities – activities focused on realization of innovations. In this article, innovations are mainly considered in terms of high-technology production, evidence from Russian space industry. There are 5 basic stages of lifecycle of innovative project in considered industry: initiation, development, realization, expansion, consumption. Practically, third or fourth, or even both of these stages, often missing because there is no need of them. R&D activities, or even further serial production, based on previous developments, is an innovation activity, because these activities are stages of innovative projects lifecycle itself. Then it seems legit, to draw a conclusion, that in terms of high-technology production, company’s primary activity equals innovative activity. Basic characteristics of innovative activity of high-technology companies as assessment and forecasting object involves high level of uncertainty at every stage of projects lifecycle, high dependency on funding level of this activity, and high level and erratic structure of risk. All the above mentioned, means that assessment and forecasting of innovative activity of high-technology companies, needs development of its own methodological tools for each industry.

Space power needs and forecasted technologies for the 1990s and beyond

International Nuclear Information System (INIS)

Buden, D.; Albert, T.

1987-01-01

A new generation of reactors for electric power will be available for space missions to satisfy military and civilian needs in the 1990s and beyond. To ensure a useful product, nuclear power plant development must be cognizant of other space power technologies. Major advances in solar and chemical technologies need to be considered in establishing the goals of future nuclear power plants. In addition, the mission needs are evolving into new regimes. Civilian and military power needs are forecasted to exceed anything used in space to date. Technology trend forecasts have been mapped as a function of time for solar, nuclear, chemical, and storage systems to illustrate areas where each technology provides minimum mass. Other system characteristics may dominate the usefulness of a technology on a given mission. This paper will discuss some of these factors, as well as forecast future military and civilian power needs and the status of technologies for the 1990s and 2000s. 6 references

Not all past events are equal: biased attention and emerging heuristics in children's past-to-future forecasting.

Science.gov (United States)

Lagattuta, Kristin Hansen; Sayfan, Liat

2013-01-01

Four- to 10-year-olds and adults (N = 265) responded to eight scenarios presented on an eye tracker. Each trial involved a character who encounters a perpetrator who had previously enacted positive (P), negative (N), or both types of actions toward him or her in varying sequences (NN, PP, PN, and NP). Participants predicted the character's thoughts about the likelihood of future events, emotion type and intensity, and decision to approach or avoid. All ages made more positive forecasts for PP > NP > PN > NN trials, with differentiation by past experience widening with age. Age-related increases in weighting the most recent past event also appeared in eye gaze. Individual differences in biased visual attention correlated with verbal judgments. Findings contribute to research on risk assessment, person perception, and heuristics in judgment and decision making. © 2013 The Authors. Child Development © 2013 Society for Research in Child Development, Inc.

SOFT project: a new forecasting system based on satellite data

Science.gov (United States)

Pascual, Ananda; Orfila, A.; Alvarez, Alberto; Hernandez, E.; Gomis, D.; Barth, Alexander; Tintore, Joaquim

2002-01-01

The aim of the SOFT project is to develop a new ocean forecasting system by using a combination of satellite dat, evolutionary programming and numerical ocean models. To achieve this objective two steps are proved: (1) to obtain an accurate ocean forecasting system using genetic algorithms based on satellite data; and (2) to integrate the above new system into existing deterministic numerical models. Evolutionary programming will be employed to build 'intelligent' systems that, learning form the past ocean variability and considering the present ocean state, will be able to infer near future ocean conditions. Validation of the forecast skill will be carried out by comparing the forecasts fields with satellite and in situ observations. Validation with satellite observations will provide the expected errors in the forecasting system. Validation with in situ data will indicate the capabilities of the satellite based forecast information to improve the performance of the numerical ocean models. This later validation will be accomplished considering in situ measurements in a specific oceanographic area at two different periods of time. The first set of observations will be employed to feed the hybrid systems while the second set will be used to validate the hybrid and traditional numerical model results.

Past speculations of future health technologies: a description of technologies predicted in 15 forecasting studies published between 1986 and 2010.

Science.gov (United States)

Doos, Lucy; Packer, Claire; Ward, Derek; Simpson, Sue; Stevens, Andrew

2017-07-31

To describe and classify health technologies predicted in forecasting studies. A portrait describing health technologies predicted in 15 forecasting studies published between 1986 and 2010 that were identified in a previous systematic review. Health technologies are classified according to their type, purpose and clinical use; relating these to the original purpose and timing of the forecasting studies. All health-related technologies predicted in 15 forecasting studies identified in a previously published systematic review. Outcomes related to (1) each forecasting study including country, year, intention and forecasting methods used and (2) the predicted technologies including technology type, purpose, targeted clinical area and forecast timeframe. Of the 896 identified health-related technologies, 685 (76.5%) were health technologies with an explicit or implied health application and included in our study. Of these, 19.1% were diagnostic or imaging tests, 14.3% devices or biomaterials, 12.6% information technology systems, eHealth or mHealth and 12% drugs. The majority of the technologies were intended to treat or manage disease (38.1%) or diagnose or monitor disease (26.1%). The most frequent targeted clinical areas were infectious diseases followed by cancer, circulatory and nervous system disorders. The most frequent technology types were for: infectious diseases-prophylactic vaccines (45.8%), cancer-drugs (40%), circulatory disease-devices and biomaterials (26.3%), and diseases of the nervous system-equally devices and biomaterials (25%) and regenerative medicine (25%). The mean timeframe for forecasting was 11.6 years (range 0-33 years, median=10, SD=6.6). The forecasting timeframe significantly differed by technology type (p=0.002), the intent of the forecasting group (p<0.001) and the methods used (p<001). While description and classification of predicted health-related technologies is crucial in preparing healthcare systems for adopting new innovations

A robust method to forecast volcanic ash clouds

Science.gov (United States)

Denlinger, Roger P.; Pavolonis, Mike; Sieglaff, Justin

2012-01-01

Ash clouds emanating from volcanic eruption columns often form trails of ash extending thousands of kilometers through the Earth's atmosphere, disrupting air traffic and posing a significant hazard to air travel. To mitigate such hazards, the community charged with reducing flight risk must accurately assess risk of ash ingestion for any flight path and provide robust forecasts of volcanic ash dispersal. In response to this need, a number of different transport models have been developed for this purpose and applied to recent eruptions, providing a means to assess uncertainty in forecasts. Here we provide a framework for optimal forecasts and their uncertainties given any model and any observational data. This involves random sampling of the probability distributions of input (source) parameters to a transport model and iteratively running the model with different inputs, each time assessing the predictions that the model makes about ash dispersal by direct comparison with satellite data. The results of these comparisons are embodied in a likelihood function whose maximum corresponds to the minimum misfit between model output and observations. Bayes theorem is then used to determine a normalized posterior probability distribution and from that a forecast of future uncertainty in ash dispersal. The nature of ash clouds in heterogeneous wind fields creates a strong maximum likelihood estimate in which most of the probability is localized to narrow ranges of model source parameters. This property is used here to accelerate probability assessment, producing a method to rapidly generate a prediction of future ash concentrations and their distribution based upon assimilation of satellite data as well as model and data uncertainties. Applying this method to the recent eruption of Eyjafjallajökull in Iceland, we show that the 3 and 6 h forecasts of ash cloud location probability encompassed the location of observed satellite-determined ash cloud loads, providing an

The nuclear energy of the future: the researches and the objectives; L'energie nucleaire du futur: quelles recherches pour quels objectifs?

Energy Technology Data Exchange (ETDEWEB)

NONE

2005-07-01

Today energy problems are global problems. That is why the new generation of energy production by nuclear power must be realized basely on serious forecasts at a world scale. The nuclear energy presents many trumps for an energetic answer, at long-dated, concerning the environment and the resources. This will be for two main conditions: the ability to answer the public opinion anxiety and the development of new systems more high- performance in terms of safety and economy in the framework of the sustainable development and the non proliferation policy. These subjects are at the earth of the CEA missions. This document proposes a detailed presentation of the nuclear origins, the fuel and its cycle, the radioactive wastes and their management,the dismantling and the decommissioning of the nuclear installations, the challenges of the nuclear safety, the energy in the world, the nuclear economy, the nuclear in the world, the researches of the future, the third generation reactors, the research on radioactive wastes, the fuel cycle of the nuclear systems of the future, the uranium resources, the generation four forum, the gas coolant reactors, the thorium, hybrid systems and the thermonuclear fusion. (A.L.B.)

The effect of non-recurring items on analysts’ earnings forecasts

Directory of Open Access Journals (Sweden)

Nan Li

2018-03-01

Full Text Available This article discusses the effects of non-recurring profits and losses on statement users’ decision-making processes from the perspective of securities analysts. We examine the relationship between analysts’ forecast revisions and firms’ non-recurring earnings. We find that 1 non-recurring gains and losses can influence analysts’ earnings forecast revision; 2 compared with non-recurring items resulting from policy changes, analysts are more concerned about those attributed to changes in business scope; 3 if listed companies use non-recurring items to turn losses into gains during earnings management, it will weaken the effects of non-recurring items on analysts’ earnings forecast revision. The results suggest that non-recurring items that result from changes in business scope incorporate information that users need for the future operation of the business. This article verifies the information relevance of non-recurring items and provides evidence for the necessity of non-recurring item disclosure. Keywords: Non-recurring items, Earnings forecasts, Revisions

Artificial intelligence based models for stream-flow forecasting: 2000-2015

Science.gov (United States)

Yaseen, Zaher Mundher; El-shafie, Ahmed; Jaafar, Othman; Afan, Haitham Abdulmohsin; Sayl, Khamis Naba

2015-11-01

The use of Artificial Intelligence (AI) has increased since the middle of the 20th century as seen in its application in a wide range of engineering and science problems. The last two decades, for example, has seen a dramatic increase in the development and application of various types of AI approaches for stream-flow forecasting. Generally speaking, AI has exhibited significant progress in forecasting and modeling non-linear hydrological applications and in capturing the noise complexity in the dataset. This paper explores the state-of-the-art application of AI in stream-flow forecasting, focusing on defining the data-driven of AI, the advantages of complementary models, as well as the literature and their possible future application in modeling and forecasting stream-flow. The review also identifies the major challenges and opportunities for prospective research, including, a new scheme for modeling the inflow, a novel method for preprocessing time series frequency based on Fast Orthogonal Search (FOS) techniques, and Swarm Intelligence (SI) as an optimization approach.

Day-ahead price forecasting in restructured power systems using artificial neural networks

International Nuclear Information System (INIS)

Vahidinasab, V.; Jadid, S.; Kazemi, A.

2008-01-01

Over the past 15 years most electricity supply companies around the world have been restructured from monopoly utilities to deregulated competitive electricity markets. Market participants in the restructured electricity markets find short-term electricity price forecasting (STPF) crucial in formulating their risk management strategies. They need to know future electricity prices as their profitability depends on them. This research project classifies and compares different techniques of electricity price forecasting in the literature and selects artificial neural networks (ANN) as a suitable method for price forecasting. To perform this task, market knowledge should be used to optimize the selection of input data for an electricity price forecasting tool. Then sensitivity analysis is used in this research to aid in the selection of the optimum inputs of the ANN and fuzzy c-mean (FCM) algorithm is used for daily load pattern clustering. Finally, ANN with a modified Levenberg-Marquardt (LM) learning algorithm are implemented for forecasting prices in Pennsylvania-New Jersey-Maryland (PJM) market. The forecasting results were compared with the previous works and showed that the results are reasonable and accurate. (author)

Forecasting Temporal Dynamics of Cutaneous Leishmaniasis in Northeast Brazil

Science.gov (United States)

Lewnard, Joseph A.; Jirmanus, Lara; Júnior, Nivison Nery; Machado, Paulo R.; Glesby, Marshall J.; Ko, Albert I.; Carvalho, Edgar M.; Schriefer, Albert; Weinberger, Daniel M.

2014-01-01

Introduction Cutaneous leishmaniasis (CL) is a vector-borne disease of increasing importance in northeastern Brazil. It is known that sandflies, which spread the causative parasites, have weather-dependent population dynamics. Routinely-gathered weather data may be useful for anticipating disease risk and planning interventions. Methodology/Principal Findings We fit time series models using meteorological covariates to predict CL cases in a rural region of Bahía, Brazil from 1994 to 2004. We used the models to forecast CL cases for the period 2005 to 2008. Models accounting for meteorological predictors reduced mean squared error in one, two, and three month-ahead forecasts by up to 16% relative to forecasts from a null model accounting only for temporal autocorrelation. Significance These outcomes suggest CL risk in northeastern Brazil might be partially dependent on weather. Responses to forecasted CL epidemics may include bolstering clinical capacity and disease surveillance in at-risk areas. Ecological mechanisms by which weather influences CL risk merit future research attention as public health intervention targets. PMID:25356734

Energy demand forecasting method based on international statistical data

International Nuclear Information System (INIS)

Glanc, Z.; Kerner, A.

1997-01-01

Poland is in a transition phase from a centrally planned to a market economy; data collected under former economic conditions do not reflect a market economy. Final energy demand forecasts are based on the assumption that the economic transformation in Poland will gradually lead the Polish economy, technologies and modes of energy use, to the same conditions as mature market economy countries. The starting point has a significant influence on the future energy demand and supply structure: final energy consumption per capita in 1992 was almost half the average of OECD countries; energy intensity, based on Purchasing Power Parities (PPP) and referred to GDP, is more than 3 times higher in Poland. A method of final energy demand forecasting based on regression analysis is described in this paper. The input data are: output of macroeconomic and population growth forecast; time series 1970-1992 of OECD countries concerning both macroeconomic characteristics and energy consumption; and energy balance of Poland for the base year of the forecast horizon. (author). 1 ref., 19 figs, 4 tabs

Energy demand forecasting method based on international statistical data

Energy Technology Data Exchange (ETDEWEB)

Glanc, Z; Kerner, A [Energy Information Centre, Warsaw (Poland)

1997-09-01

Poland is in a transition phase from a centrally planned to a market economy; data collected under former economic conditions do not reflect a market economy. Final energy demand forecasts are based on the assumption that the economic transformation in Poland will gradually lead the Polish economy, technologies and modes of energy use, to the same conditions as mature market economy countries. The starting point has a significant influence on the future energy demand and supply structure: final energy consumption per capita in 1992 was almost half the average of OECD countries; energy intensity, based on Purchasing Power Parities (PPP) and referred to GDP, is more than 3 times higher in Poland. A method of final energy demand forecasting based on regression analysis is described in this paper. The input data are: output of macroeconomic and population growth forecast; time series 1970-1992 of OECD countries concerning both macroeconomic characteristics and energy consumption; and energy balance of Poland for the base year of the forecast horizon. (author). 1 ref., 19 figs, 4 tabs.

Urban Ozone Concentration Forecasting with Artificial Neural Network in Corsica

Directory of Open Access Journals (Sweden)

Tamas Wani

2014-03-01

Full Text Available Atmospheric pollutants concentration forecasting is an important issue in air quality monitoring. Qualitair Corse, the organization responsible for monitoring air quality in Corsica (France, needs to develop a short-term prediction model to lead its mission of information towards the public. Various deterministic models exist for local forecasting, but need important computing resources, a good knowledge of atmospheric processes and can be inaccurate because of local climatical or geographical particularities, as observed in Corsica, a mountainous island located in the Mediterranean Sea. As a result, we focus in this study on statistical models, and particularly Artificial Neural Networks (ANNs that have shown good results in the prediction of ozone concentration one hour ahead with data measured locally. The purpose of this study is to build a predictor realizing predictions of ozone 24 hours ahead in Corsica in order to be able to anticipate pollution peaks formation and to take appropriate preventive measures. Specific meteorological conditions are known to lead to particular pollution event in Corsica (e.g. Saharan dust events. Therefore, an ANN model will be used with pollutant and meteorological data for operational forecasting. Index of agreement of this model was calculated with a one year test dataset and reached 0.88.

Natural-gas futures: Bias, predictive performance, and the theory of storage

International Nuclear Information System (INIS)

Modjtahedi, Bagher; Movassagh, Nahid

2005-01-01

This study reports several empirical findings concerning natural gas futures prices. First, spot and futures prices are non-stationary and the observed trends are due to positive drifts in the random-walk components of the prices rather than possible deterministic time trends. Second, market forecast errors are stationary. Third, futures are less than expected future spot prices so that futures are backdated. Fourth, the bias in the futures prices is time varying. Fifth, futures have statistically significant market-timing ability, despite the bias in the magnitude forecasts. Finally, the data lends partial support to the cost-of-carry theory of the basis determination. (Author)

Natural-gas futures: Bias, predictive performance, and the theory of storage

Energy Technology Data Exchange (ETDEWEB)

Modjtahedi, Bagher [California Univ., Davis, CA (United States); California Franchise Tax Board, CA (United States); Movassagh, Nahid [California Energy Commission, MS22, Sacramento, CA (United States)

2005-07-01

This study reports several empirical findings concerning natural gas futures prices. First, spot and futures prices are non-stationary and the observed trends are due to positive drifts in the random-walk components of the prices rather than possible deterministic time trends. Second, market forecast errors are stationary. Third, futures are less than expected future spot prices so that futures are backdated. Fourth, the bias in the futures prices is time varying. Fifth, futures have statistically significant market-timing ability, despite the bias in the magnitude forecasts. Finally, the data lends partial support to the cost-of-carry theory of the basis determination. (Author)

Linking Science of Flood Forecasts to Humanitarian Actions for Improved Preparedness and Effective Response

Science.gov (United States)

Uprety, M.; Dugar, S.; Gautam, D.; Kanel, D.; Kshetri, M.; Kharbuja, R. G.; Acharya, S. H.

2017-12-01

Advances in flood forecasting have provided opportunities for humanitarian responders to employ a range of preparedness activities at different forecast time horizons. Yet, the science of prediction is less understood and realized across the humanitarian landscape, and often preparedness plans are based upon average level of flood risk. Working under the remit of Forecast Based Financing (FbF), we present a pilot from Nepal on how available flood and weather forecast products are informing specific pre-emptive actions in the local preparedness and response plans, thereby supporting government stakeholders and humanitarian agencies to take early actions before an impending flood event. In Nepal, forecasting capabilities are limited but in a state of positive flux. Whilst local flood forecasts based upon rainfall-runoff models are yet to be operationalized, streamflow predictions from Global Flood Awareness System (GLoFAS) can be utilized to plan and implement preparedness activities several days in advance. Likewise, 3-day rainfall forecasts from Nepal Department of Hydrology and Meteorology (DHM) can further inform specific set of early actions for potential flash floods due to heavy precipitation. Existing community based early warning systems in the major river basins of Nepal are utilizing real time monitoring of water levels and rainfall together with localised probabilistic flood forecasts which has increased warning lead time from 2-3 hours to 7-8 hours. Based on these available forecast products, thresholds and trigger levels have been determined for different flood scenarios. Matching these trigger levels and assigning responsibilities to relevant actors for early actions, a set of standard operating procedures (SOPs) are being developed, broadly covering general preparedness activities and science informed anticipatory actions for different forecast lead times followed by the immediate response activities. These SOPs are currently being rolled out and

The impact of implementing a demand forecasting system into a low-income country's supply chain.

Science.gov (United States)

Mueller, Leslie E; Haidari, Leila A; Wateska, Angela R; Phillips, Roslyn J; Schmitz, Michelle M; Connor, Diana L; Norman, Bryan A; Brown, Shawn T; Welling, Joel S; Lee, Bruce Y

2016-07-12

To evaluate the potential impact and value of applications (e.g. adjusting ordering levels, storage capacity, transportation capacity, distribution frequency) of data from demand forecasting systems implemented in a lower-income country's vaccine supply chain with different levels of population change to urban areas. Using our software, HERMES, we generated a detailed discrete event simulation model of Niger's entire vaccine supply chain, including every refrigerator, freezer, transport, personnel, vaccine, cost, and location. We represented the introduction of a demand forecasting system to adjust vaccine ordering that could be implemented with increasing delivery frequencies and/or additions of cold chain equipment (storage and/or transportation) across the supply chain during varying degrees of population movement. Implementing demand forecasting system with increased storage and transport frequency increased the number of successfully administered vaccine doses and lowered the logistics cost per dose up to 34%. Implementing demand forecasting system without storage/transport increases actually decreased vaccine availability in certain circumstances. The potential maximum gains of a demand forecasting system may only be realized if the system is implemented to both augment the supply chain cold storage and transportation. Implementation may have some impact but, in certain circumstances, may hurt delivery. Therefore, implementation of demand forecasting systems with additional storage and transport may be the better approach. Significant decreases in the logistics cost per dose with more administered vaccines support investment in these forecasting systems. Demand forecasting systems have the potential to greatly improve vaccine demand fulfilment, and decrease logistics cost/dose when implemented with storage and transportation increases. Simulation modeling can demonstrate the potential health and economic benefits of supply chain improvements. Copyright �

Inflation Forecast Contracts

OpenAIRE

Gersbach, Hans; Hahn, Volker

2012-01-01

We introduce a new type of incentive contract for central bankers: inflation forecast contracts, which make central bankers’ remunerations contingent on the precision of their inflation forecasts. We show that such contracts enable central bankers to influence inflation expectations more effectively, thus facilitating more successful stabilization of current inflation. Inflation forecast contracts improve the accuracy of inflation forecasts, but have adverse consequences for output. On balanc...

Enhanced regional forecasting considering single wind farm distribution for upscaling

International Nuclear Information System (INIS)

Bremen, Lueder von; Saleck, Nadja; Heinemann, Detlev

2007-01-01

With increasing wind power penetration the need for more accurate wind power forecasts increases to raise the market value of wind power. State-of-the-art wind power forecasting tools are considered either statistical or physical. Fundamentally new techniques are rare, thus it is tried to establish a new approach. The spatial decomposition of wind power generation in Germany can be done with principle component analysis to extract the main pattern of variability. They have a physical meaning when linked with typical weather situation. The first four eigenvectors explain about 94 % of the observed variance. The time-evolving principle components are linked with the total wind power feed-in in Germany and are used for its estimation. A new wind power forecasting model has been implemented with this approach and shows very good results that are comparable with state-of-the-art commercial wind power forecast models. The day-ahead forecast error for a common intercomparison period Jan-Jul 2006 is 4.4 %. The suggested approach offers wide ranges for future developments (e.g. several NWP models), because it is computationally very cheap to run

Sampling from stochastic reservoir models constrained by production data

Energy Technology Data Exchange (ETDEWEB)

Hegstad, Bjoern Kaare

1997-12-31

When a petroleum reservoir is evaluated, it is important to forecast future production of oil and gas and to assess forecast uncertainty. This is done by defining a stochastic model for the reservoir characteristics, generating realizations from this model and applying a fluid flow simulator to the realizations. The reservoir characteristics define the geometry of the reservoir, initial saturation, petrophysical properties etc. This thesis discusses how to generate realizations constrained by production data, that is to say, the realizations should reproduce the observed production history of the petroleum reservoir within the uncertainty of these data. The topics discussed are: (1) Theoretical framework, (2) History matching, forecasting and forecasting uncertainty, (3) A three-dimensional test case, (4) Modelling transmissibility multipliers by Markov random fields, (5) Up scaling, (6) The link between model parameters, well observations and production history in a simple test case, (7) Sampling the posterior using optimization in a hierarchical model, (8) A comparison of Rejection Sampling and Metropolis-Hastings algorithm, (9) Stochastic simulation and conditioning by annealing in reservoir description, and (10) Uncertainty assessment in history matching and forecasting. 139 refs., 85 figs., 1 tab.

Gulf of Mexico forecasts : the dead sea

International Nuclear Information System (INIS)

Good Abbott, C.

1999-01-01

The future gas supply potential from the offshore Gulf of Mexico region was discussed with particular emphasis on the issue of whether there is enough growth potential to satisfy the anticipated growth in power generation markets. In 1980, a forecasted decrease in gas supply proved to be wrong. In fact, supply actually increased and productivity in the Gulf of Mexico has been relatively stable since 1982. A significant growth has been forecasted for 1997 to 2010. This growth will coincide with a large growth in gas demand in the northeastern U.S. The fact that electric power generation is changing hands adds to the opportunities in the northeast. It was emphasized that Canadian supply must be present to compete. 1 tab., 16 figs

FORECASTING OF PERFORMANCE EVALUATION OF NEW VEHICLES

Directory of Open Access Journals (Sweden)

O. S. Krasheninin

2016-12-01

Full Text Available Purpose. The research work focuses on forecasting of performance evaluation of the tractive and non-tractive vehicles that will satisfy and meet the needs and requirements of the railway industry, which is constantly evolving. Methodology. Analysis of the technical condition of the existing fleet of rolling stock (tractive and non-tractive of Ukrainian Railways shows a substantial reduction that occurs in connection with its moral and physical wear and tear, as well as insufficient and limited purchase of new units of the tractive and non-tractive rolling stock in the desired quantity. In this situation there is a necessity of search of the methods for determination of rolling stock technical characteristics. One of such urgent and effective measures is to conduct forecasting of the defining characteristics of the vehicles based on the processes of their reproduction in conditions of limited resources using a continuous exponential function. The function of the growth rate of the projected figure degree for the vehicle determines the logistic characteristic that with unlimited resources has the form of an exponent, and with low ones – that of a line. Findings. The data obtained according to the proposed method allowed determining the expected (future value, that is the ratio of load to volume of the body for non-tractive rolling stock (gondola cars and weight-to-power for tractive rolling stock, the degree of forecast reliability and the standard forecast error, which show high prediction accuracy for the completed procedure. As a result, this will allow estimating the required characteristics of vehicles in the forecast year with high accuracy. Originality. The concept of forecasting the characteristics of the vehicles for decision-making on the evaluation of their prospects was proposed. Practical value. The forecasting methodology will reliably determine the technical parameters of tractive and non-tractive rolling stock, which will meet

Internet pharmaceutical sales: attributes, concerns, and future forecast.

Science.gov (United States)

Bruckel, Katy; Capozzoli, Ernest A

2003-01-01

Internet pharmaceutical sales continue to skyrocket as healthcare providers and consumers are increasingly relying on the efficiencies and convenience that is available via such transactions. Managed care companies, increasing demands to reduce healthcare inefficiencies while maximizing the quality of patient care is a significant contributing factor to the expanding utilization and success of online pharmaceutical sales. However, with the expansion of Internet pharmaceutical sales, healthcare providers, pharmacy benefit management and insurance companies, and consumers realize new opportunities and risks. This paper will review the attributes and concerns associated with online pharmaceutical sales, discussing current and pending legislation intended to more effectively manage these parameters.

Demand forecasting: methodology used to electric power consumers for irrigation

International Nuclear Information System (INIS)

Gangi, R.D.; Atmann, J.L.

1989-01-01

The utilization of load curves on the evaluation of systems behaviour, consumers and in the owners and users brought a new subsidy for the performance of forecast techniques. This paper shows how we can use these forecasting techniques and load curves in a specify situation joined to Guaira Substation, where the predominance is rural consumers with large activities in irrigation. The main objective of this study is bring by load curve modulation and the expansion of consumer market, a optimized view of load for the future years. (C.G.C.)

Understanding Farmers’ Forecast Use from Their Beliefs, Values, Social Norms, and Perceived Obstacles

Science.gov (United States)

Hu, Qi; Pytlik Zillig, Lisa M.; Lynne, Gary D.; Tomkins, Alan J.; Waltman, William J.; Hayes, Michael J.; Hubbard, Kenneth G.; Artikov, Ikrom; Hoffman, Stacey J.; Wilhite, Donald A.

2006-09-01

Although the accuracy of weather and climate forecasts is continuously improving and new information retrieved from climate data is adding to the understanding of climate variation, use of the forecasts and climate information by farmers in farming decisions has changed little. This lack of change may result from knowledge barriers and psychological, social, and economic factors that undermine farmer motivation to use forecasts and climate information. According to the theory of planned behavior (TPB), the motivation to use forecasts may arise from personal attitudes, social norms, and perceived control or ability to use forecasts in specific decisions. These attributes are examined using data from a survey designed around the TPB and conducted among farming communities in the region of eastern Nebraska and the western U.S. Corn Belt. There were three major findings: 1) the utility and value of the forecasts for farming decisions as perceived by farmers are, on average, around 3.0 on a 0 7 scale, indicating much room to improve attitudes toward the forecast value. 2) The use of forecasts by farmers to influence decisions is likely affected by several social groups that can provide “expert viewpoints” on forecast use. 3) A major obstacle, next to forecast accuracy, is the perceived identity and reliability of the forecast makers. Given the rapidly increasing number of forecasts in this growing service business, the ambiguous identity of forecast providers may have left farmers confused and may have prevented them from developing both trust in forecasts and skills to use them. These findings shed light on productive avenues for increasing the influence of forecasts, which may lead to greater farming productivity. In addition, this study establishes a set of reference points that can be used for comparisons with future studies to quantify changes in forecast use and influence.

Variance analysis of forecasted streamflow maxima in a wet temperate climate

Science.gov (United States)

Al Aamery, Nabil; Fox, James F.; Snyder, Mark; Chandramouli, Chandra V.

2018-05-01

Coupling global climate models, hydrologic models and extreme value analysis provides a method to forecast streamflow maxima, however the elusive variance structure of the results hinders confidence in application. Directly correcting the bias of forecasts using the relative change between forecast and control simulations has been shown to marginalize hydrologic uncertainty, reduce model bias, and remove systematic variance when predicting mean monthly and mean annual streamflow, prompting our investigation for maxima streamflow. We assess the variance structure of streamflow maxima using realizations of emission scenario, global climate model type and project phase, downscaling methods, bias correction, extreme value methods, and hydrologic model inputs and parameterization. Results show that the relative change of streamflow maxima was not dependent on systematic variance from the annual maxima versus peak over threshold method applied, albeit we stress that researchers strictly adhere to rules from extreme value theory when applying the peak over threshold method. Regardless of which method is applied, extreme value model fitting does add variance to the projection, and the variance is an increasing function of the return period. Unlike the relative change of mean streamflow, results show that the variance of the maxima's relative change was dependent on all climate model factors tested as well as hydrologic model inputs and calibration. Ensemble projections forecast an increase of streamflow maxima for 2050 with pronounced forecast standard error, including an increase of +30(±21), +38(±34) and +51(±85)% for 2, 20 and 100 year streamflow events for the wet temperate region studied. The variance of maxima projections was dominated by climate model factors and extreme value analyses.

Future Research in Health Information Technology: A Review.

Science.gov (United States)

Hemmat, Morteza; Ayatollahi, Haleh; Maleki, Mohammad Reza; Saghafi, Fatemeh

2017-01-01

Currently, information technology is considered an important tool to improve healthcare services. To adopt the right technologies, policy makers should have adequate information about present and future advances. This study aimed to review and compare studies with a focus on the future of health information technology. This review study was completed in 2015. The databases used were Scopus, Web of Science, ProQuest, Ovid Medline, and PubMed. Keyword searches were used to identify papers and materials published between 2000 and 2015. Initially, 407 papers were obtained, and they were reduced to 11 papers at the final stage. The selected papers were described and compared in terms of the country of origin, objective, methodology, and time horizon. The papers were divided into two groups: those forecasting the future of health information technology (seven papers) and those providing health information technology foresight (four papers). The results showed that papers related to forecasting the future of health information technology were mostly a literature review, and the time horizon was up to 10 years in most of these studies. In the health information technology foresight group, most of the studies used a combination of techniques, such as scenario building and Delphi methods, and had long-term objectives. To make the most of an investment and to improve planning and successful implementation of health information technology, a strategic plan for the future needs to be set. To achieve this aim, methods such as forecasting the future of health information technology and offering health information technology foresight can be applied. The forecasting method is used when the objectives are not very large, and the foresight approach is recommended when large-scale objectives are set to be achieved. In the field of health information technology, the results of foresight studies can help to establish realistic long-term expectations of the future of health information

A Novel Nonlinear Combined Forecasting System for Short-Term Load Forecasting

Directory of Open Access Journals (Sweden)

Chengshi Tian

2018-03-01

Full Text Available Short-term load forecasting plays an indispensable role in electric power systems, which is not only an extremely challenging task but also a concerning issue for all society due to complex nonlinearity characteristics. However, most previous combined forecasting models were based on optimizing weight coefficients to develop a linear combined forecasting model, while ignoring that the linear combined model only considers the contribution of the linear terms to improving the model’s performance, which will lead to poor forecasting results because of the significance of the neglected and potential nonlinear terms. In this paper, a novel nonlinear combined forecasting system, which consists of three modules (improved data pre-processing module, forecasting module and the evaluation module is developed for short-term load forecasting. Different from the simple data pre-processing of most previous studies, the improved data pre-processing module based on longitudinal data selection is successfully developed in this system, which further improves the effectiveness of data pre-processing and then enhances the final forecasting performance. Furthermore, the modified support vector machine is developed to integrate all the individual predictors and obtain the final prediction, which successfully overcomes the upper drawbacks of the linear combined model. Moreover, the evaluation module is incorporated to perform a scientific evaluation for the developed system. The half-hourly electrical load data from New South Wales are employed to verify the effectiveness of the developed forecasting system, and the results reveal that the developed nonlinear forecasting system can be employed in the dispatching and planning for smart grids.

Extending Data Worth Analyses to Select Multiple Observations Targeting Multiple Forecasts.

Science.gov (United States)

Vilhelmsen, Troels N; Ferré, Ty P A

2017-09-15

Hydrological models are often set up to provide specific forecasts of interest. Owing to the inherent uncertainty in data used to derive model structure and used to constrain parameter variations, the model forecasts will be uncertain. Additional data collection is often performed to minimize this forecast uncertainty. Given our common financial restrictions, it is critical that we identify data with maximal information content with respect to forecast of interest. In practice, this often devolves to qualitative decisions based on expert opinion. However, there is no assurance that this will lead to optimal design, especially for complex hydrogeological problems. Specifically, these complexities include considerations of multiple forecasts, shared information among potential observations, information content of existing data, and the assumptions and simplifications underlying model construction. In the present study, we extend previous data worth analyses to include: simultaneous selection of multiple new measurements and consideration of multiple forecasts of interest. We show how the suggested approach can be used to optimize data collection. This can be used in a manner that suggests specific measurement sets or that produces probability maps indicating areas likely to be informative for specific forecasts. Moreover, we provide examples documenting that sequential measurement election approaches often lead to suboptimal designs and that estimates of data covariance should be included when selecting future measurement sets. © 2017, National Ground Water Association.

Do we need demographic data to forecast plant population dynamics?

Science.gov (United States)

Tredennick, Andrew T.; Hooten, Mevin B.; Adler, Peter B.

2017-01-01

Rapid environmental change has generated growing interest in forecasts of future population trajectories. Traditional population models built with detailed demographic observations from one study site can address the impacts of environmental change at particular locations, but are difficult to scale up to the landscape and regional scales relevant to management decisions. An alternative is to build models using population-level data that are much easier to collect over broad spatial scales than individual-level data. However, it is unknown whether models built using population-level data adequately capture the effects of density-dependence and environmental forcing that are necessary to generate skillful forecasts.Here, we test the consequences of aggregating individual responses when forecasting the population states (percent cover) and trajectories of four perennial grass species in a semi-arid grassland in Montana, USA. We parameterized two population models for each species, one based on individual-level data (survival, growth and recruitment) and one on population-level data (percent cover), and compared their forecasting accuracy and forecast horizons with and without the inclusion of climate covariates. For both models, we used Bayesian ridge regression to weight the influence of climate covariates for optimal prediction.In the absence of climate effects, we found no significant difference between the forecast accuracy of models based on individual-level data and models based on population-level data. Climate effects were weak, but increased forecast accuracy for two species. Increases in accuracy with climate covariates were similar between model types.In our case study, percent cover models generated forecasts as accurate as those from a demographic model. For the goal of forecasting, models based on aggregated individual-level data may offer a practical alternative to data-intensive demographic models. Long time series of percent cover data already exist

Magnetogram Forecast: An All-Clear Space Weather Forecasting System

Science.gov (United States)

Barghouty, Nasser; Falconer, David

2015-01-01

Solar flares and coronal mass ejections (CMEs) are the drivers of severe space weather. Forecasting the probability of their occurrence is critical in improving space weather forecasts. The National Oceanic and Atmospheric Administration (NOAA) currently uses the McIntosh active region category system, in which each active region on the disk is assigned to one of 60 categories, and uses the historical flare rates of that category to make an initial forecast that can then be adjusted by the NOAA forecaster. Flares and CMEs are caused by the sudden release of energy from the coronal magnetic field by magnetic reconnection. It is believed that the rate of flare and CME occurrence in an active region is correlated with the free energy of an active region. While the free energy cannot be measured directly with present observations, proxies of the free energy can instead be used to characterize the relative free energy of an active region. The Magnetogram Forecast (MAG4) (output is available at the Community Coordinated Modeling Center) was conceived and designed to be a databased, all-clear forecasting system to support the operational goals of NASA's Space Radiation Analysis Group. The MAG4 system automatically downloads nearreal- time line-of-sight Helioseismic and Magnetic Imager (HMI) magnetograms on the Solar Dynamics Observatory (SDO) satellite, identifies active regions on the solar disk, measures a free-energy proxy, and then applies forecasting curves to convert the free-energy proxy into predicted event rates for X-class flares, M- and X-class flares, CMEs, fast CMEs, and solar energetic particle events (SPEs). The forecast curves themselves are derived from a sample of 40,000 magnetograms from 1,300 active region samples, observed by the Solar and Heliospheric Observatory Michelson Doppler Imager. Figure 1 is an example of MAG4 visual output

Medium Range Forecasts Representation (and Long Range Forecasts?)

Science.gov (United States)

Vincendon, J.-C.

2009-09-01

The progress of the numerical forecasts urges us to interest us in more and more distant ranges. We thus supply more and more forecasts with term of some days. Nevertheless, precautions of use are necessary to give the most reliable and the most relevant possible information. Available in a TV bulletin or on quite other support (Internet, mobile phone), the interpretation and the representation of a medium range forecast (5 - 15 days) must be different from those of a short range forecast. Indeed, the "foresee-ability” of a meteorological phenomenon decreases gradually in the course of the ranges, it decreases all the more quickly that the phenomenon is of small scale. So, at the end of some days, the probability character of a forecast becomes very widely dominating. That is why in Meteo-France the forecasts of D+4 to D+7 are accompanied with a confidence index since around ten years. It is a figure between 1 and 5: the more we approach 5, the more the confidence in the supplied forecast is good. In the practice, an indication is supplied for period D+4 / D+5, the other one for period D+6 / D+7, every day being able to benefit from a different forecast, that is be represented in a independent way. We thus supply a global tendency over 24 hours with less and less precise symbols as the range goes away. Concrete examples will be presented. From now on two years, we also publish forecasts to D+8 / J+9, accompanied with a sign of confidence (" good reliability " or " to confirm "). These two days are grouped together on a single map because for us, the described tendency to this term is relevant on a duration about 48 hours with a spatial scale slightly superior to the synoptic scale. So, we avoid producing more than two zones of types of weather over France and we content with giving an evolution for the temperatures (still, in increase or in decline). Newspapers began to publish this information, it should soon be the case of televisions. It is particularly

Recent Progress of Solar Weather Forecasting at Naoc

Science.gov (United States)

He, Han; Wang, Huaning; Du, Zhanle; Zhang, Liyun; Huang, Xin; Yan, Yan; Fan, Yuliang; Zhu, Xiaoshuai; Guo, Xiaobo; Dai, Xinghua

The history of solar weather forecasting services at National Astronomical Observatories, Chinese Academy of Sciences (NAOC) can be traced back to 1960s. Nowadays, NAOC is the headquarters of the Regional Warning Center of China (RWC-China), which is one of the members of the International Space Environment Service (ISES). NAOC is responsible for exchanging data, information and space weather forecasts of RWC-China with other RWCs. The solar weather forecasting services at NAOC cover short-term prediction (within two or three days), medium-term prediction (within several weeks), and long-term prediction (in time scale of solar cycle) of solar activities. Most efforts of the short-term prediction research are concentrated on the solar eruptive phenomena, such as flares, coronal mass ejections (CMEs) and solar proton events, which are the key driving sources of strong space weather disturbances. Based on the high quality observation data of the latest space-based and ground-based solar telescopes and with the help of artificial intelligence techniques, new numerical models with quantitative analyses and physical consideration are being developed for the predictions of solar eruptive events. The 3-D computer simulation technology is being introduced for the operational solar weather service platform to visualize the monitoring of solar activities, the running of the prediction models, as well as the presenting of the forecasting results. A new generation operational solar weather monitoring and forecasting system is expected to be constructed in the near future at NAOC.

Retrospective evaluation of the five-year and ten-year CSEP-Italy earthquake forecasts

Directory of Open Access Journals (Sweden)

Stefan Wiemer

2010-11-01

Full Text Available On August 1, 2009, the global Collaboratory for the Study of Earthquake Predictability (CSEP launched a prospective and comparative earthquake predictability experiment in Italy. The goal of this CSEP-Italy experiment is to test earthquake occurrence hypotheses that have been formalized as probabilistic earthquake forecasts over temporal scales that range from days to years. In the first round of forecast submissions, members of the CSEP-Italy Working Group presented 18 five-year and ten-year earthquake forecasts to the European CSEP Testing Center at ETH Zurich. We have considered here the twelve time-independent earthquake forecasts among this set, and evaluated them with respect to past seismicity data from two Italian earthquake catalogs. We present the results of the tests that measure the consistencies of the forecasts according to past observations. As well as being an evaluation of the time-independent forecasts submitted, this exercise provides insight into a number of important issues in predictability experiments with regard to the specification of the forecasts, the performance of the tests, and the trade-off between robustness of results and experiment duration. We conclude with suggestions for the design of future earthquake predictability experiments.

Analyzing Oil Futures with a Dynamic Nelson-Siegel Model

DEFF Research Database (Denmark)

Hansen, Niels Strange; Lunde, Asger

In this paper we are interested in the term structure of futures contracts on oil. The objective is to specify a relatively parsimonious model which explains data well and performs well in a real time out of sample forecasting. The dynamic Nelson-Siegel model is normally used to analyze and forec......In this paper we are interested in the term structure of futures contracts on oil. The objective is to specify a relatively parsimonious model which explains data well and performs well in a real time out of sample forecasting. The dynamic Nelson-Siegel model is normally used to analyze...... and forecast interest rates of different maturities. The structure of oil futures resembles the structure of interest rates and this motivates the use of this model for our purposes. The data set is vast and the dynamic Nelson-Siegel model allows for a significant dimension reduction by introducing three...

Forecasting market developments

International Nuclear Information System (INIS)

Weller, T.

1997-01-01

Traditional planning in essence consists of linear extrapolation of established facts and experience. This approach was good enough until recently, when progress would be relatively foreseeable within a stable system. The situation has been changing with developments and modifications in the global economic sector proceeding at accelerated pace, so that conventional planning methods become hopelessly inadequate. The past is of low significance to emerging markets; planners today have to keep abreast with and take into account the possible and emerging influencing factors. Experience is a factor to be replaced by intelligent analysis and conclusion within the framework of system networks. Modern scenario modelling methods are based on this approach: They are able to simulate and forecast a whole range of ''possible futures'', derived from perceivable trends. The article illustrates the novel planning methodology by assessing the future of the renewable energy sources, applying a computerized planning method (vision design) which is based on intelligent comparative analysis of all relevant trends. (Orig./RHM) [de

Harmful algal blooms and climate change: Learning from the past and present to forecast the future

Science.gov (United States)

Wells, Mark L.; Trainer, Vera L.; Smayda, Theodore J.; Karlson, Bengt S.O.; Trick, Charles G.; Kudela, Raphael M.; Ishikawa, Akira; Bernard, Stewart; Wulff, Angela; Anderson, Donald M.; Cochlan, William P.

2015-01-01

Climate change pressures will influence marine planktonic systems globally, and it is conceivable that harmful algal blooms may increase in frequency and severity. These pressures will be manifest as alterations in temperature, stratification, light, ocean acidification, precipitation-induced nutrient inputs, and grazing, but absence of fundamental knowledge of the mechanisms driving harmful algal blooms frustrates most hope of forecasting their future prevalence. Summarized here is the consensus of a recent workshop held to address what currently is known and not known about the environmental conditions that favor initiation and maintenance of harmful algal blooms. There is expectation that harmful algal bloom (HAB) geographical domains should expand in some cases, as will seasonal windows of opportunity for harmful algal blooms at higher latitudes. Nonetheless there is only basic information to speculate upon which regions or habitats HAB species may be the most resilient or susceptible. Moreover, current research strategies are not well suited to inform these fundamental linkages. There is a critical absence of tenable hypotheses for how climate pressures mechanistically affect HAB species, and the lack of uniform experimental protocols limits the quantitative cross-investigation comparisons essential to advancement. A HAB “best practices” manual would help foster more uniform research strategies and protocols, and selection of a small target list of model HAB species or isolates for study would greatly promote the accumulation of knowledge. Despite the need to focus on keystone species, more studies need to address strain variability within species, their responses under multifactorial conditions, and the retrospective analyses of long-term plankton and cyst core data; research topics that are departures from the norm. Examples of some fundamental unknowns include how larger and more frequent extreme weather events may break down natural biogeographic

Operational Earthquake Forecasting and Decision-Making in a Low-Probability Environment

Science.gov (United States)

Jordan, T. H.; the International Commission on Earthquake ForecastingCivil Protection

2011-12-01

Operational earthquake forecasting (OEF) is the dissemination of authoritative information about the time dependence of seismic hazards to help communities prepare for potentially destructive earthquakes. Most previous work on the public utility of OEF has anticipated that forecasts would deliver high probabilities of large earthquakes; i.e., deterministic predictions with low error rates (false alarms and failures-to-predict) would be possible. This expectation has not been realized. An alternative to deterministic prediction is probabilistic forecasting based on empirical statistical models of aftershock triggering and seismic clustering. During periods of high seismic activity, short-term earthquake forecasts can attain prospective probability gains in excess of 100 relative to long-term forecasts. The utility of such information is by no means clear, however, because even with hundredfold increases, the probabilities of large earthquakes typically remain small, rarely exceeding a few percent over forecasting intervals of days or weeks. Civil protection agencies have been understandably cautious in implementing OEF in this sort of "low-probability environment." The need to move more quickly has been underscored by recent seismic crises, such as the 2009 L'Aquila earthquake sequence, in which an anxious public was confused by informal and inaccurate earthquake predictions. After the L'Aquila earthquake, the Italian Department of Civil Protection appointed an International Commission on Earthquake Forecasting (ICEF), which I chaired, to recommend guidelines for OEF utilization. Our report (Ann. Geophys., 54, 4, 2011; doi: 10.4401/ag-5350) concludes: (a) Public sources of information on short-term probabilities should be authoritative, scientific, open, and timely, and need to convey epistemic uncertainties. (b) Earthquake probabilities should be based on operationally qualified, regularly updated forecasting systems. (c) All operational models should be evaluated

An Operational System for Surveillance and Ecological Forecasting of West Nile Virus Outbreaks

Science.gov (United States)

Wimberly, M. C.; Davis, J. K.; Vincent, G.; Hess, A.; Hildreth, M. B.

2017-12-01

Mosquito-borne disease surveillance has traditionally focused on tracking human cases along with the abundance and infection status of mosquito vectors. For many of these diseases, vector and host population dynamics are also sensitive to climatic factors, including temperature fluctuations and the availability of surface water for mosquito breeding. Thus, there is a potential to strengthen surveillance and predict future outbreaks by monitoring environmental risk factors using broad-scale sensor networks that include earth-observing satellites. The South Dakota Mosquito Information System (SDMIS) project combines entomological surveillance with gridded meteorological data from NASA's North American Land Data Assimilation System (NLDAS) to generate weekly risk maps for West Nile virus (WNV) in the north-central United States. Critical components include a mosquito infection model that smooths the noisy infection rate and compensates for unbalanced sampling, and a human infection model that combines the entomological risk estimates with lagged effects of meteorological variables from the North American Land Data Assimilation System (NLDAS). Two types of forecasts are generated: long-term forecasts of statewide risk extending through the entire WNV season, and short-term forecasts of the geographic pattern of WNV risk in the upcoming week. Model forecasts are connected to public health actions through decision support matrices that link predicted risk levels to a set of phased responses. In 2016, the SDMIS successfully forecast an early start to the WNV season and a large outbreak of WNV cases following several years of low transmission. An evaluation of the 2017 forecasts will also be presented. Our experiences with the SDMIS highlight several important lessons that can inform future efforts at disease early warning. These include the value of integrating climatic models with recent observations of infection, the critical role of automated workflows to facilitate

An empirical study of the relationship between earnings forecasts and risk profile

Directory of Open Access Journals (Sweden)

Malekian Esfandiar

2016-11-01

Full Text Available A new approach to examine the relationship between the excess of forecast based on characteristics toward management forecast and business risk is provided in this research at companies listed on the stock exchange in Tehran.The customary (traditional (approach is based on the regression of management forecast errors of past years. Therefore, the observable and unobservable inputs, such as managements, incentive misalignment, are used to predict management forecast errors. In this study, the future earnings is at first estimated by using characteristics including earnings per share, loss indicator, Neg. accruals per share , Pos. accruals per share ,asset growth , dividend indicator (non-payment of the dividend, Book-to-market value, share price and dividend per share for companies. Based on that, a criterion (CO for estimating the earnings forecast error was developed, which is the alternative forecasted errors. One should notice that, business risk is considered as a measure of company performance. In this study, measures of business risk are volatility of earnings and dividend ratio. Research findings show that, there is a significant relationship between the CO and volatility of earnings, on the contrary there is no significant relationship between this criteria and dividend ratio

Are Forecast Updates Progressive?

NARCIS (Netherlands)

C-L. Chang (Chia-Lin); Ph.H.B.F. Franses (Philip Hans); M.J. McAleer (Michael)

2010-01-01

textabstractMacro-economic forecasts typically involve both a model component, which is replicable, as well as intuition, which is non-replicable. Intuition is expert knowledge possessed by a forecaster. If forecast updates are progressive, forecast updates should become more accurate, on average,

Educational Futurism and the Self-Fulfilling Prophecy

Science.gov (United States)

Yarbrough, V. Eugene

1976-01-01

The self-fulfilling prophecy can play a dynamic role in the outcome of forecasts for educational futures. Points out that a situation defined as "real" or true in the present has "real" consequences for the future. (Editor/RK)

A national-scale seasonal hydrological forecast system: development and evaluation over Britain

Directory of Open Access Journals (Sweden)

V. A. Bell

2017-09-01

��% of the forecast skill (mostly in areas of high rainfall to the north and west and only 30 % of the skill arises from hydrological memory (typically groundwater-dominated areas. Given the high spatial heterogeneity in typical patterns of UK rainfall and evaporation, future development of skilful spatially distributed seasonal forecasts could lead to substantial improvements in seasonal flow forecast capability, potentially benefitting practitioners interested in predicting hydrological extremes, not only in the UK but also across Europe.

A prospective earthquake forecast experiment in the western Pacific

Science.gov (United States)

Eberhard, David A. J.; Zechar, J. Douglas; Wiemer, Stefan

2012-09-01

Since the beginning of 2009, the Collaboratory for the Study of Earthquake Predictability (CSEP) has been conducting an earthquake forecast experiment in the western Pacific. This experiment is an extension of the Kagan-Jackson experiments begun 15 years earlier and is a prototype for future global earthquake predictability experiments. At the beginning of each year, seismicity models make a spatially gridded forecast of the number of Mw≥ 5.8 earthquakes expected in the next year. For the three participating statistical models, we analyse the first two years of this experiment. We use likelihood-based metrics to evaluate the consistency of the forecasts with the observed target earthquakes and we apply measures based on Student's t-test and the Wilcoxon signed-rank test to compare the forecasts. Overall, a simple smoothed seismicity model (TripleS) performs the best, but there are some exceptions that indicate continued experiments are vital to fully understand the stability of these models, the robustness of model selection and, more generally, earthquake predictability in this region. We also estimate uncertainties in our results that are caused by uncertainties in earthquake location and seismic moment. Our uncertainty estimates are relatively small and suggest that the evaluation metrics are relatively robust. Finally, we consider the implications of our results for a global earthquake forecast experiment.

Medium-Range Air Quality Forecast During the Beijing Olympic Games

Science.gov (United States)

Zhang, Y.; Smith, J.; Wang, Z.; Luo, L.; Wu, Q.

2008-12-01

Prior to the XXIX Olympiad in Beijing, air quality was a major concern for many athletes and visitors to the Games. In response to the need for enhanced air quality forecasts, we explored and tested the capability of medium-range air quality forecasting in a multimodel ensemble system. The system consists of the Weather Research and Forecasting Model with Chemistry module (WRF-Chem), the Fifth-Generation NCAR/PennState Mesoscale Model (MM5), and the Nested Air Quality Prediction Modeling System (NAQPMS) developed at the Institute of Atmospheric Physics (IAP). Both MM5 and NAQPMS have been in operational use to produce short-term air quality forecasts. WRFChem is the major addition to the multimodel system. Forced with the forecast from the NCEP Global Ensemble Forecast System (GENS) at the lateral boundary, the multimodel system makes ensemble air quality forecasts out to 16 days with emission scenarios that reflect measures for the Olympics, including the closing down of factories around the city and beyond, a traffic control program that reduced the number of automobiles around the city by about half and elimination of all construction activities. Analyses of two forecasts are presented in this study. They were made on 5 August 2008 and 8 August 2008, both covering the entire Olympic period. Each forecast consists of three ensemble members that were produced with the same regional model but were forced by the control and two 'extremes' of the GENS forecast. The two extreme members were hand-picked to represent the best and worst case scenarios. The forecasts are evaluated with observations taken during the Olympic Games that include satellite observations, in-situ meteorological stations, LIDAR and air quality observations at the IAP tower site, 1 km away from the 'Bird Nest'. The analyses show good model skill in the first 3 days and generally satisfactory after 96 hours, with a successful forecast of potential pollution episode on 20 August 2008. The challenge

Interval forecasting of cyber-attacks on industrial control systems

Science.gov (United States)

Ivanyo, Y. M.; Krakovsky, Y. M.; Luzgin, A. N.

2018-03-01

At present, cyber-security issues of industrial control systems occupy one of the key niches in a state system of planning and management Functional disruption of these systems via cyber-attacks may lead to emergencies related to loss of life, environmental disasters, major financial and economic damage, or disrupted activities of cities and settlements. There is then an urgent need to develop protection methods against cyber-attacks. This paper studied the results of cyber-attack interval forecasting with a pre-set intensity level of cyber-attacks. Interval forecasting is the forecasting of one interval from two predetermined ones in which a future value of the indicator will be obtained. For this, probability estimates of these events were used. For interval forecasting, a probabilistic neural network with a dynamic updating value of the smoothing parameter was used. A dividing bound of these intervals was determined by a calculation method based on statistical characteristics of the indicator. The number of cyber-attacks per hour that were received through a honeypot from March to September 2013 for the group ‘zeppo-norcal’ was selected as the indicator.

Design of online monitoring and forecasting system for electrical equipment temperature of prefabricated substation based on WSN

Science.gov (United States)

Qi, Weiran; Miao, Hongxia; Miao, Xuejiao; Xiao, Xuanxuan; Yan, Kuo

2016-10-01

In order to ensure the safe and stable operation of the prefabricated substations, temperature sensing subsystem, temperature remote monitoring and management subsystem, forecast subsystem are designed in the paper. Wireless temperature sensing subsystem which consists of temperature sensor and MCU sends the electrical equipment temperature to the remote monitoring center by wireless sensor network. Remote monitoring center can realize the remote monitoring and prediction by monitoring and management subsystem and forecast subsystem. Real-time monitoring of power equipment temperature, history inquiry database, user management, password settings, etc., were achieved by monitoring and management subsystem. In temperature forecast subsystem, firstly, the chaos of the temperature data was verified and phase space is reconstructed. Then Support Vector Machine - Particle Swarm Optimization (SVM-PSO) was used to predict the temperature of the power equipment in prefabricated substations. The simulation results found that compared with the traditional methods SVM-PSO has higher prediction accuracy.

Load forecasting

International Nuclear Information System (INIS)

Mak, H.

1995-01-01

Slides used in a presentation at The Power of Change Conference in Vancouver, BC in April 1995 about the changing needs for load forecasting were presented. Technological innovations and population increase were said to be the prime driving forces behind the changing needs in load forecasting. Structural changes, market place changes, electricity supply planning changes, and changes in planning objectives were other factors discussed. It was concluded that load forecasting was a form of information gathering, that provided important market intelligence

Relating Tropical Cyclone Track Forecast Error Distributions with Measurements of Forecast Uncertainty

Science.gov (United States)

2016-03-01

CYCLONE TRACK FORECAST ERROR DISTRIBUTIONS WITH MEASUREMENTS OF FORECAST UNCERTAINTY by Nicholas M. Chisler March 2016 Thesis Advisor...March 2016 3. REPORT TYPE AND DATES COVERED Master’s thesis 4. TITLE AND SUBTITLE RELATING TROPICAL CYCLONE TRACK FORECAST ERROR DISTRIBUTIONS...WITH MEASUREMENTS OF FORECAST UNCERTAINTY 5. FUNDING NUMBERS 6. AUTHOR(S) Nicholas M. Chisler 7. PERFORMING ORGANIZATION NAME(S) AND ADDRESS(ES

Forecasting and Technology Management: Statistical Theory and Methodological Issues

DEFF Research Database (Denmark)

Madsen, Henning

of directions and targets for a R and D project, monitoring of a given area by a public agency, and evaluation of the future competitive situation for a company. This paper gives a brief introduction to the field of technological forecasting especially in relation to the strategic planning process...

Visualizing Uncertainty for Probabilistic Weather Forecasting based on Reforecast Analogs

Science.gov (United States)

Pelorosso, Leandro; Diehl, Alexandra; Matković, Krešimir; Delrieux, Claudio; Ruiz, Juan; Gröeller, M. Eduard; Bruckner, Stefan

2016-04-01

Numerical weather forecasts are prone to uncertainty coming from inaccuracies in the initial and boundary conditions and lack of precision in numerical models. Ensemble of forecasts partially addresses these problems by considering several runs of the numerical model. Each forecast is generated with different initial and boundary conditions and different model configurations [GR05]. The ensembles can be expressed as probabilistic forecasts, which have proven to be very effective in the decision-making processes [DE06]. The ensemble of forecasts represents only some of the possible future atmospheric states, usually underestimating the degree of uncertainty in the predictions [KAL03, PH06]. Hamill and Whitaker [HW06] introduced the "Reforecast Analog Regression" (RAR) technique to overcome the limitations of ensemble forecasting. This technique produces probabilistic predictions based on the analysis of historical forecasts and observations. Visual analytics provides tools for processing, visualizing, and exploring data to get new insights and discover hidden information patterns in an interactive exchange between the user and the application [KMS08]. In this work, we introduce Albero, a visual analytics solution for probabilistic weather forecasting based on the RAR technique. Albero targets at least two different type of users: "forecasters", who are meteorologists working in operational weather forecasting and "researchers", who work in the construction of numerical prediction models. Albero is an efficient tool for analyzing precipitation forecasts, allowing forecasters to make and communicate quick decisions. Our solution facilitates the analysis of a set of probabilistic forecasts, associated statistical data, observations and uncertainty. A dashboard with small-multiples of probabilistic forecasts allows the forecasters to analyze at a glance the distribution of probabilities as a function of time, space, and magnitude. It provides the user with a more

Grey Forecast Rainfall with Flow Updating Algorithm for Real-Time Flood Forecasting

Directory of Open Access Journals (Sweden)

Jui-Yi Ho

2015-04-01

Full Text Available The dynamic relationship between watershed characteristics and rainfall-runoff has been widely studied in recent decades. Since watershed rainfall-runoff is a non-stationary process, most deterministic flood forecasting approaches are ineffective without the assistance of adaptive algorithms. The purpose of this paper is to propose an effective flow forecasting system that integrates a rainfall forecasting model, watershed runoff model, and real-time updating algorithm. This study adopted a grey rainfall forecasting technique, based on existing hourly rainfall data. A geomorphology-based runoff model can be used for simulating impacts of the changing geo-climatic conditions on the hydrologic response of unsteady and non-linear watershed system, and flow updating algorithm were combined to estimate watershed runoff according to measured flow data. The proposed flood forecasting system was applied to three watersheds; one in the United States and two in Northern Taiwan. Four sets of rainfall-runoff simulations were performed to test the accuracy of the proposed flow forecasting technique. The results indicated that the forecast and observed hydrographs are in good agreement for all three watersheds. The proposed flow forecasting system could assist authorities in minimizing loss of life and property during flood events.

Space Weather Forecasting and Research at the Community Coordinated Modeling Center

Science.gov (United States)

Aronne, M.

2015-12-01

The Space Weather Research Center (SWRC), within the Community Coordinated Modeling Center (CCMC), provides experimental research forecasts and analysis for NASA's robotic mission operators. Space weather conditions are monitored to provide advance warning and forecasts based on observations and modeling using the integrated Space Weather Analysis Network (iSWA). Space weather forecasters come from a variety of backgrounds, ranging from modelers to astrophysicists to undergraduate students. This presentation will discuss space weather operations and research from an undergraduate perspective. The Space Weather Research, Education, and Development Initiative (SW REDI) is the starting point for many undergraduate opportunities in space weather forecasting and research. Space weather analyst interns play an active role year-round as entry-level space weather analysts. Students develop the technical and professional skills to forecast space weather through a summer internship that includes a two week long space weather boot camp, mentorship, poster session, and research opportunities. My unique development of research projects includes studying high speed stream events as well as a study of 20 historic, high-impact solar energetic particle events. This unique opportunity to combine daily real-time analysis with related research prepares students for future careers in Heliophysics.

A petroleum discovery-rate forecast revisited-The problem of field growth

Science.gov (United States)

Drew, L.J.; Schuenemeyer, J.H.

1992-01-01

A forecast of the future rates of discovery of crude oil and natural gas for the 123,027-km2 Miocene/Pliocene trend in the Gulf of Mexico was made in 1980. This forecast was evaluated in 1988 by comparing two sets of data: (1) the actual versus the forecasted number of fields discovered, and (2) the actual versus the forecasted volumes of crude oil and natural gas discovered with the drilling of 1,820 wildcat wells along the trend between January 1, 1977, and December 31, 1985. The forecast specified that this level of drilling would result in the discovery of 217 fields containing 1.78 billion barrels of oil equivalent; however, 238 fields containing 3.57 billion barrels of oil equivalent were actually discovered. This underestimation is attributed to biases introduced by field growth and, to a lesser degree, the artificially low, pre-1970's price of natural gas that prevented many smaller gas fields from being brought into production at the time of their discovery; most of these fields contained less than 50 billion cubic feet of producible natural gas. ?? 1992 Oxford University Press.

Forecasting in Complex Systems

Science.gov (United States)

Rundle, J. B.; Holliday, J. R.; Graves, W. R.; Turcotte, D. L.; Donnellan, A.

2014-12-01

Complex nonlinear systems are typically characterized by many degrees of freedom, as well as interactions between the elements. Interesting examples can be found in the areas of earthquakes and finance. In these two systems, fat tails play an important role in the statistical dynamics. For earthquake systems, the Gutenberg-Richter magnitude-frequency is applicable, whereas for daily returns for the securities in the financial markets are known to be characterized by leptokurtotic statistics in which the tails are power law. Very large fluctuations are present in both systems. In earthquake systems, one has the example of great earthquakes such as the M9.1, March 11, 2011 Tohoku event. In financial systems, one has the example of the market crash of October 19, 1987. Both were largely unexpected events that severely impacted the earth and financial systems systemically. Other examples include the M9.3 Andaman earthquake of December 26, 2004, and the Great Recession which began with the fall of Lehman Brothers investment bank on September 12, 2013. Forecasting the occurrence of these damaging events has great societal importance. In recent years, national funding agencies in a variety of countries have emphasized the importance of societal relevance in research, and in particular, the goal of improved forecasting technology. Previous work has shown that both earthquakes and financial crashes can be described by a common Landau-Ginzburg-type free energy model. These metastable systems are characterized by fat tail statistics near the classical spinodal. Correlations in these systems can grow and recede, but do not imply causation, a common source of misunderstanding. In both systems, a common set of techniques can be used to compute the probabilities of future earthquakes or crashes. In this talk, we describe the basic phenomenology of these systems and emphasize their similarities and differences. We also consider the problem of forecast validation and verification

Daily Peak Load Forecasting Based on Complete Ensemble Empirical Mode Decomposition with Adaptive Noise and Support Vector Machine Optimized by Modified Grey Wolf Optimization Algorithm

Directory of Open Access Journals (Sweden)

Shuyu Dai

2018-01-01

Full Text Available Daily peak load forecasting is an important part of power load forecasting. The accuracy of its prediction has great influence on the formulation of power generation plan, power grid dispatching, power grid operation and power supply reliability of power system. Therefore, it is of great significance to construct a suitable model to realize the accurate prediction of the daily peak load. A novel daily peak load forecasting model, CEEMDAN-MGWO-SVM (Complete Ensemble Empirical Mode Decomposition with Adaptive Noise and Support Vector Machine Optimized by Modified Grey Wolf Optimization Algorithm, is proposed in this paper. Firstly, the model uses the complete ensemble empirical mode decomposition with adaptive noise (CEEMDAN algorithm to decompose the daily peak load sequence into multiple sub sequences. Then, the model of modified grey wolf optimization and support vector machine (MGWO-SVM is adopted to forecast the sub sequences. Finally, the forecasting sequence is reconstructed and the forecasting result is obtained. Using CEEMDAN can realize noise reduction for non-stationary daily peak load sequence, which makes the daily peak load sequence more regular. The model adopts the grey wolf optimization algorithm improved by introducing the population dynamic evolution operator and the nonlinear convergence factor to enhance the global search ability and avoid falling into the local optimum, which can better optimize the parameters of the SVM algorithm for improving the forecasting accuracy of daily peak load. In this paper, three cases are used to test the forecasting accuracy of the CEEMDAN-MGWO-SVM model. We choose the models EEMD-MGWO-SVM (Ensemble Empirical Mode Decomposition and Support Vector Machine Optimized by Modified Grey Wolf Optimization Algorithm, MGWO-SVM (Support Vector Machine Optimized by Modified Grey Wolf Optimization Algorithm, GWO-SVM (Support Vector Machine Optimized by Grey Wolf Optimization Algorithm, SVM (Support Vector

Impact of GFZ's Effective Angular Momentum Forecasts on Polar Motion Prediction

Science.gov (United States)

Dill, Robert; Dobslaw, Henryk

2017-04-01

The Earth System Modelling group at GeoForschungsZentrum (GFZ) Potsdam offers now 6-day forecasts of Earth rotation excitation due to atmospheric, oceanic, and hydrologic angular momentum changes that are consistent with its 40 years-long EAM series. Those EAM forecasts are characterized by an improved long-term consistency due to the introduction of a time-invariant high-resolution reference topography into the AAM processing that accounts for occasional NWP model changes. In addition, all tidal signals from both atmosphere and ocean have been separated, and the temporal resolution of both AAM and OAM has been increased to 3 hours. Analysis of an extended set of EAM short-term hindcasts revealed positive prediction skills for up to 6 days into the future when compared to a persistent forecast. Whereas UT1 predictions in particular rely on an accurate AAM forecast, skillfull polar motion prediction requires high-quality OAM forecasts as well. We will present in this contribution the results from a multi-year hindcast experiment, demonstrating that the polar motion prediction as currently available from Bulletin A can be improved in particular for lead-times between 2 and 5 days by incorporating OAM forecasts. We will also report about early results obtained at Observatoire de Paris to predict polar motion from the integration of GFZ's 6-day EAM forecasts into the Liouville equation in a routine setting, that fully takes into account the operational latencies of all required input products.

Short-term residential load forecasting: Impact of calendar effects and forecast granularity

DEFF Research Database (Denmark)

Lusis, Peter; Khalilpour, Kaveh Rajab; Andrew, Lachlan

2017-01-01

forecasting for a single-customer or even down at an appliance level. Access to high resolution data from smart meters has enabled the research community to assess conventional load forecasting techniques and develop new forecasting strategies suitable for demand-side disaggregated loads. This paper studies...... how calendar effects, forecasting granularity and the length of the training set affect the accuracy of a day-ahead load forecast for residential customers. Root mean square error (RMSE) and normalized RMSE were used as forecast error metrics. Regression trees, neural networks, and support vector...... regression yielded similar average RMSE results, but statistical analysis showed that regression trees technique is significantly better. The use of historical load profiles with daily and weekly seasonality, combined with weather data, leaves the explicit calendar effects a very low predictive power...

LOAD FORECASTING FOR POWER SYSTEM PLANNING AND OPERATION USING ARTIFICIAL NEURAL NETWORK AT AL BATINAH REGION OMAN

Directory of Open Access Journals (Sweden)

HUSSEIN A. ABDULQADER

2012-08-01

Full Text Available Load forecasting is essential part for the power system planning and operation. In this paper the modeling and design of artificial neural network for load forecasting is carried out in a particular region of Oman. Neural network approach helps to reduce the problem associated with conventional method and has the advantage of learning directly from the historical data. The neural network here uses data such as past load; weather information like humidity and temperatures. Once the neural network is trained for the past set of data it can give a prediction of future load. This reduces the capital investment reducing the equipments to be installed. The actual data are taken from the Mazoon Electrical Company, Oman. The data of load for the year 2007, 2008 and 2009 are collected for a particular region called Al Batinah in Oman and trained using neural networks to forecast the future. The main objective is to forecast the amount of electricity needed for better load distribution in the areas of this region in Oman. The load forecasting is done for the year 2010 and is validated for the accuracy.

Forecasting optimal solar energy supply in Jiangsu Province (China): a systematic approach using hybrid of weather and energy forecast models.

Science.gov (United States)

Zhao, Xiuli; Asante Antwi, Henry; Yiranbon, Ethel

2014-01-01

The idea of aggregating information is clearly recognizable in the daily lives of all entities whether as individuals or as a group, since time immemorial corporate organizations, governments, and individuals as economic agents aggregate information to formulate decisions. Energy planning represents an investment-decision problem where information needs to be aggregated from credible sources to predict both demand and supply of energy. To do this there are varying methods ranging from the use of portfolio theory to managing risk and maximizing portfolio performance under a variety of unpredictable economic outcomes. The future demand for energy and need to use solar energy in order to avoid future energy crisis in Jiangsu province in China require energy planners in the province to abandon their reliance on traditional, "least-cost," and stand-alone technology cost estimates and instead evaluate conventional and renewable energy supply on the basis of a hybrid of optimization models in order to ensure effective and reliable supply. Our task in this research is to propose measures towards addressing optimal solar energy forecasting by employing a systematic optimization approach based on a hybrid of weather and energy forecast models. After giving an overview of the sustainable energy issues in China, we have reviewed and classified the various models that existing studies have used to predict the influences of the weather influences and the output of solar energy production units. Further, we evaluate the performance of an exemplary ensemble model which combines the forecast output of two popular statistical prediction methods using a dynamic weighting factor.

Forecasting Optimal Solar Energy Supply in Jiangsu Province (China: A Systematic Approach Using Hybrid of Weather and Energy Forecast Models

Directory of Open Access Journals (Sweden)

Xiuli Zhao

2014-01-01

Full Text Available The idea of aggregating information is clearly recognizable in the daily lives of all entities whether as individuals or as a group, since time immemorial corporate organizations, governments, and individuals as economic agents aggregate information to formulate decisions. Energy planning represents an investment-decision problem where information needs to be aggregated from credible sources to predict both demand and supply of energy. To do this there are varying methods ranging from the use of portfolio theory to managing risk and maximizing portfolio performance under a variety of unpredictable economic outcomes. The future demand for energy and need to use solar energy in order to avoid future energy crisis in Jiangsu province in China require energy planners in the province to abandon their reliance on traditional, “least-cost,” and stand-alone technology cost estimates and instead evaluate conventional and renewable energy supply on the basis of a hybrid of optimization models in order to ensure effective and reliable supply. Our task in this research is to propose measures towards addressing optimal solar energy forecasting by employing a systematic optimization approach based on a hybrid of weather and energy forecast models. After giving an overview of the sustainable energy issues in China, we have reviewed and classified the various models that existing studies have used to predict the influences of the weather influences and the output of solar energy production units. Further, we evaluate the performance of an exemplary ensemble model which combines the forecast output of two popular statistical prediction methods using a dynamic weighting factor.

Seasonal Forecasting of Agriculture Gross Domestic Production in Iran: Application of Periodic Autoregressive Model

Directory of Open Access Journals (Sweden)

Mohammad Ghahremanzadeh

2014-06-01

Full Text Available Agriculture as one of the major economic sectors of Iran, has an important role in Gross Domestic Production by providing about 14% of GDP. This study attempts to forecast the value of the agriculture GDP using Periodic Autoregressive model (PAR, as the new seasonal time series techniques. To address this aim, the quarterly data were collected from March 1988 to July 1989. The collected data was firstly analyzed using periodic unit root test Franses & Paap (2004. The analysis found non-periodic unit root in the seasonal data. Second, periodic seasonal behavior (Boswijk & Franses, 1996 was examined. The results showed that periodic autoregressive model fits agriculture GDP well. This makes an accurate forecast of agriculture GDP possible. Using the estimated model, the future value of quarter agricultural GDP from March 2011 to July 2012was forecasted. With consideration to the fair fit of this model with agricultural GDP, It is recommended to use periodic autoregressive model for the future studies.

Probabilistic short-term forecasting of eruption rate at Kīlauea Volcano using a physics-based model

Science.gov (United States)

Anderson, K. R.

2016-12-01

Deterministic models of volcanic eruptions yield predictions of future activity conditioned on uncertainty in the current state of the system. Physics-based eruption models are well-suited for deterministic forecasting as they can relate magma physics with a wide range of observations. Yet, physics-based eruption forecasting is strongly limited by an inadequate understanding of volcanic systems, and the need for eruption models to be computationally tractable. At Kīlauea Volcano, Hawaii, episodic depressurization-pressurization cycles of the magma system generate correlated, quasi-exponential variations in ground deformation and surface height of the active summit lava lake. Deflations are associated with reductions in eruption rate, or even brief eruptive pauses, and thus partly control lava flow advance rates and associated hazard. Because of the relatively well-understood nature of Kīlauea's shallow magma plumbing system, and because more than 600 of these events have been recorded to date, they offer a unique opportunity to refine a physics-based effusive eruption forecasting approach and apply it to lava eruption rates over short (hours to days) time periods. A simple physical model of the volcano ascribes observed data to temporary reductions in magma supply to an elastic reservoir filled with compressible magma. This model can be used to predict the evolution of an ongoing event, but because the mechanism that triggers events is unknown, event durations are modeled stochastically from previous observations. A Bayesian approach incorporates diverse data sets and prior information to simultaneously estimate uncertain model parameters and future states of the system. Forecasts take the form of probability distributions for eruption rate or cumulative erupted volume at some future time. Results demonstrate the significant uncertainties that still remain even for short-term eruption forecasting at a well-monitored volcano - but also the value of a physics

The Application of TAPM for Site Specific Wind Energy Forecasting

Directory of Open Access Journals (Sweden)

Merlinde Kay

2016-02-01

Full Text Available The energy industry uses weather forecasts for determining future electricity demand variations due to the impact of weather, e.g., temperature and precipitation. However, as a greater component of electricity generation comes from intermittent renewable sources such as wind and solar, weather forecasting techniques need to now also focus on predicting renewable energy supply, which means adapting our prediction models to these site specific resources. This work assesses the performance of The Air Pollution Model (TAPM, and demonstrates that significant improvements can be made to only wind speed forecasts from a mesoscale Numerical Weather Prediction (NWP model. For this study, a wind farm site situated in North-west Tasmania, Australia was investigated. I present an analysis of the accuracy of hourly NWP and bias corrected wind speed forecasts over 12 months spanning 2005. This extensive time frame allows an in-depth analysis of various wind speed regimes of importance for wind-farm operation, as well as extreme weather risk scenarios. A further correction is made to the basic bias correction to improve the forecast accuracy further, that makes use of real-time wind-turbine data and a smoothing function to correct for timing-related issues. With full correction applied, a reduction in the error in the magnitude of the wind speed by as much as 50% for “hour ahead” forecasts specific to the wind-farm site has been obtained.

The multi temporal/multi-model approach to predictive uncertainty assessment in real-time flood forecasting

Science.gov (United States)

Barbetta, Silvia; Coccia, Gabriele; Moramarco, Tommaso; Brocca, Luca; Todini, Ezio

2017-08-01

This work extends the multi-temporal approach of the Model Conditional Processor (MCP-MT) to the multi-model case and to the four Truncated Normal Distributions (TNDs) approach, demonstrating the improvement on the single-temporal one. The study is framed in the context of probabilistic Bayesian decision-making that is appropriate to take rational decisions on uncertain future outcomes. As opposed to the direct use of deterministic forecasts, the probabilistic forecast identifies a predictive probability density function that represents a fundamental knowledge on future occurrences. The added value of MCP-MT is the identification of the probability that a critical situation will happen within the forecast lead-time and when, more likely, it will occur. MCP-MT is thoroughly tested for both single-model and multi-model configurations at a gauged site on the Tiber River, central Italy. The stages forecasted by two operative deterministic models, STAFOM-RCM and MISDc, are considered for the study. The dataset used for the analysis consists of hourly data from 34 flood events selected on a time series of six years. MCP-MT improves over the original models' forecasts: the peak overestimation and the rising limb delayed forecast, characterizing MISDc and STAFOM-RCM respectively, are significantly mitigated, with a reduced mean error on peak stage from 45 to 5 cm and an increased coefficient of persistence from 0.53 up to 0.75. The results show that MCP-MT outperforms the single-temporal approach and is potentially useful for supporting decision-making because the exceedance probability of hydrometric thresholds within a forecast horizon and the most probable flooding time can be estimated.

Strategic Forecasting

DEFF Research Database (Denmark)

Duus, Henrik Johannsen

2016-01-01

Purpose: The purpose of this article is to present an overview of the area of strategic forecasting and its research directions and to put forward some ideas for improving management decisions. Design/methodology/approach: This article is conceptual but also informed by the author’s long contact...... and collaboration with various business firms. It starts by presenting an overview of the area and argues that the area is as much a way of thinking as a toolbox of theories and methodologies. It then spells out a number of research directions and ideas for management. Findings: Strategic forecasting is seen...... as a rebirth of long range planning, albeit with new methods and theories. Firms should make the building of strategic forecasting capability a priority. Research limitations/implications: The article subdivides strategic forecasting into three research avenues and suggests avenues for further research efforts...

Spatial electric load forecasting

CERN Document Server

Willis, H Lee

2002-01-01

Containing 12 new chapters, this second edition contains offers increased-coverage of weather correction and normalization of forecasts, anticipation of redevelopment, determining the validity of announced developments, and minimizing risk from over- or under-planning. It provides specific examples and detailed explanations of key points to consider for both standard and unusual utility forecasting situations, information on new algorithms and concepts in forecasting, a review of forecasting pitfalls and mistakes, case studies depicting challenging forecast environments, and load models illustrating various types of demand.

Improving the Forecasting Accuracy of Crude Oil Prices

Directory of Open Access Journals (Sweden)

Xuluo Yin

2018-02-01

Full Text Available Currently, oil is the key element of energy sustainability, and its prices and economy have a strong mutual influence. Modeling a good method to accurately predict oil prices over long future horizons is challenging and of great interest to investors and policymakers. This paper forecasts oil prices using many predictor variables with a new time-varying weight combination approach. In doing so, we first use five single-variable time-varying parameter models to predict crude oil prices separately. Second, every special model is assigned a time-varying weight by the new combination approach. Finally, the forecasting results of oil prices are calculated. The results show that the paper’s method is robust and performs well compared to random walk.

Lessons of L'Aquila for Operational Earthquake Forecasting

Science.gov (United States)

Jordan, T. H.

2012-12-01

The L'Aquila earthquake of 6 Apr 2009 (magnitude 6.3) killed 309 people and left tens of thousands homeless. The mainshock was preceded by a vigorous seismic sequence that prompted informal earthquake predictions and evacuations. In an attempt to calm the population, the Italian Department of Civil Protection (DPC) convened its Commission on the Forecasting and Prevention of Major Risk (MRC) in L'Aquila on 31 March 2009 and issued statements about the hazard that were widely received as an "anti-alarm"; i.e., a deterministic prediction that there would not be a major earthquake. On October 23, 2012, a court in L'Aquila convicted the vice-director of DPC and six scientists and engineers who attended the MRC meeting on charges of criminal manslaughter, and it sentenced each to six years in prison. A few weeks after the L'Aquila disaster, the Italian government convened an International Commission on Earthquake Forecasting for Civil Protection (ICEF) with the mandate to assess the status of short-term forecasting methods and to recommend how they should be used in civil protection. The ICEF, which I chaired, issued its findings and recommendations on 2 Oct 2009 and published its final report, "Operational Earthquake Forecasting: Status of Knowledge and Guidelines for Implementation," in Aug 2011 (www.annalsofgeophysics.eu/index.php/annals/article/view/5350). As defined by the Commission, operational earthquake forecasting (OEF) involves two key activities: the continual updating of authoritative information about the future occurrence of potentially damaging earthquakes, and the officially sanctioned dissemination of this information to enhance earthquake preparedness in threatened communities. Among the main lessons of L'Aquila is the need to separate the role of science advisors, whose job is to provide objective information about natural hazards, from that of civil decision-makers who must weigh the benefits of protective actions against the costs of false alarms

Current Status on Flood Forecasting and Early Warning in Africa

NARCIS (Netherlands)

Thiemig, V.; Roo, A.P.J. de

2011-01-01

An overview of the current state of flood forecasting and early warning in Africa is provided in order to identify future user needs and research. Information was collected by reviewing previously published research in the scientific literature and from institutional websites. This information was

Neural Networks-Based Forecasting Regarding the Convergence Process of CEE Countries to the Eurozone

Directory of Open Access Journals (Sweden)

Magdalena RĂDULESCU

2014-06-01

Full Text Available In the crisis frame, many forecasts failed to provide well determined ratios. What we tried to explain in this paper is how some selected Central and Eastern European countries will perform in the near future: Romania, Bulgaria, Hungary, Poland and Czech Republic, using neural networks- based forecasting model which we created for the nominal and real convergence ratios. As a methodology, we propose the forecasting based on artificial neural network (ANN, using the well-known software tool GMDH Shell. For each output variable, we obtain a forecast model, according to previous values and other input related variables, and we applied the model to all countries. Our forecasts are much closer to the partial results of 2013 in the analyzed countries than the European Commission’s or other international organizations’ forecasts. The results of the forecast are important both for governments to design their financial strategies and for the investors in these selected countries. According to our results, the Czech Republic seems to be closer to achieve its nominal convergence in the next two years, but it faces great difficulties in the real convergence area, because it did not overpass the recession.

EU pharmaceutical expenditure forecast.

Science.gov (United States)

Urbinati, Duccio; Rémuzat, Cécile; Kornfeld, Åsa; Vataire, Anne-Lise; Cetinsoy, Laurent; Aballéa, Samuel; Mzoughi, Olfa; Toumi, Mondher

2014-01-01

With constant incentives for healthcare payers to contain their pharmaceutical budgets, forecasting has become critically important. Some countries have, for instance, developed pharmaceutical horizon scanning units. The objective of this project was to build a model to assess the net effect of the entrance of new patented medicinal products versus medicinal products going off-patent, with a defined forecast horizon, on selected European Union (EU) Member States' pharmaceutical budgets. This model took into account population ageing, as well as current and future country-specific pricing, reimbursement, and market access policies (the project was performed for the European Commission; see http://ec.europa.eu/health/healthcare/key_documents/index_en.htm). In order to have a representative heterogeneity of EU Member States, the following countries were selected for the analysis: France, Germany, Greece, Hungary, Poland, Portugal, and the United Kingdom. A forecasting period of 5 years (2012-2016) was chosen to assess the net pharmaceutical budget impact. A model for generics and biosimilars was developed for each country. The model estimated a separate and combined effect of the direct and indirect impacts of the patent cliff. A second model, estimating the sales development and the risk of development failure, was developed for new drugs. New drugs were reviewed individually to assess their clinical potential and translate it into commercial potential. The forecast was carried out according to three perspectives (healthcare public payer, society, and manufacturer), and several types of distribution chains (retail, hospital, and combined retail and hospital). Probabilistic and deterministic sensitivity analyses were carried out. According to the model, all countries experienced drug budget reductions except Poland (+€41 million). Savings were expected to be the highest in the United Kingdom (-€9,367 million), France (-€5,589 million), and, far behind them