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Title: Hybrid Grey forecasting model for Taiwan’s Hsinchu Science Industrial Park
Authors: Sun, Chia Chi
Lin, Grace T R
Keywords: Grey forecasting model;Hsinchu Science Industrial Park;Markov chain
Issue Date: May-2009
Publisher: CSIR
Abstract: Grey theory is an effective method to solve uncertainty problems with discrete data and incomplete information. This paper proposes an improved grey GM (1, 1) model, using a technique that combines residual modification with Markov chain model. Proposed Grey-Markov model, applied as a case study to annual output of Taiwan Hsinchu Industries Science Park, could clearly improve forecast accuracy of original Grey forecast model.
Page(s): 354-360
ISSN: 0022-4456
Appears in Collections:JSIR Vol.68(05) [May 2009]

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