A Study of Suitable Forecasting Model for the Export Quantity of Fresh or Chilled Fish in Thailand
Year: 2024
Type: article
Abstract: The aim of this study was to find a suitable forecasting model for the export quantity of fresh or chilled fish in Thailand using seven statistical methods including Box-Jenkins method, Holt’s exponential smoothing method, Brown’s exponential smoothing method, damped trend exponential smoothing method, simple seasonal exponential smoothing method, Winters’ additive exponential smoothing method, and Winters’ multiplicative exponential smoothing method. The average monthly export quantity from the website of the Office of Agricultural Economics was used for data analysis. The data set used to create the models was the export quantity from January 2011 to December 2020 for 120 months. The data set used to compare the accuracy was the export quantity from January to December 2021 for 12 months using the lowest mean absolute percentage error. The results indicated that the most accurate method was the damped trend exponential smoothing method.
Author: Warangkhana Riansut
Institution: Thaksin University
Language: English
Field: Decision Sciences
Domain: Social Sciences
SDG: Zero hunger
Open Access status: diamond
OpenAlex ID: W4401708132