Friday 20 October 2023

Efficient Use of Markov Chains in Time Chains Forecasting (Population Forecasting Study in the Syrian Arab Republic) | Chapter 1 | An Overview on Business, Management and Economics Research Vol. 4

 In this research, the Markov chain plan was used to predict the populace of Syria in terms of instructional status. As we noticed, population enumerations are conducted each ten years, so only the sample of dossier obtained from 1980 to 2010 was intentional. It was forecast for three years, 2008, 2009 and 2010, place the forecasting process endured the following steps. In the first stage, the model was created based on the measure of the mean certain relative error (MAPE) and the measure of the root mean square wrong (RMSE). In the second stage, the chart was formed, and in the after second stage, the transition forge from one old age to another was formed, utilizing the MATLAB program, and in the final stage, the principles were predicted and before the values acquired were compared accompanying the actual principles. The obtained principles confirm that Markov chains have extreme reliability and are a trustworthy method in this place study. The research aimed to study all facets of demographics in accordance with educational stage, build an persuasive Markov chart model, and use Markov chains in prediction and clarify their importance. However, this study presented a set of results and recommendations, ultimate important of that is that the Markov chain technique is thought-out one of the main techniques that maybe used to predict the future in business-related and social studies. There is a large size of credibility when utilizing Markov chains and their prediction in examining opportunity series of the Syrian culture by educational level. The study demonstrated the importance concerning this technique in business-related and social studies on account of its dependability and credibility.

Author(s) Details:

Bassel Anwar Asaad,
Faculty of Science, University of Tartous, Tartous, Syria.

Ghazal Shafik Safia,
Faculty of Management, Arab Academy for Maritime Transport, Lattakia, Syria.

Please see the link here: https://stm.bookpi.org/AOBMER-V4/article/view/12234

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