• KDI Journal of Economic Policy
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• v.14 no.1
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• pp.121-145
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• 1992

This paper examines characteristics of time series data related to the construction investment(stationarity and time series components such as secular trend, cyclical fluctuation, seasonal variation, and random change) and surveys predictibility, fitness, and explicability of independent variables of various models to build a short-term construction investment forecasting model suitable for current economic circumstances. Unit root test, autocorrelation coefficient and spectral density function analysis show that related time series data do not have unit roots, fluctuate cyclically, and are largely explicated by lagged variables. Moreover it is very important for the short-term construction investment forecasting to grasp time lag relation between construction investment series and leading indicators such as building construction permits and value of construction orders received. In chapter 3, we explicate 7 forecasting models; Univariate time series model (ARIMA and multiplicative linear trend model), multivariate time series model using leading indicators (1st order autoregressive model, vector autoregressive model and error correction model) and multivariate time series model using National Accounts data (simple reduced form model disconnected from simultaneous macroeconomic model and VAR model). These models are examined by 4 statistical tools that are average absolute error, root mean square error, adjusted coefficient of determination, and Durbin-Watson statistic. This analysis proves two facts. First, multivariate models are more suitable than univariate models in the point that forecasting error of multivariate models tend to decrease in contrast to the case of latter. Second, VAR model is superior than any other multivariate models; average absolute prediction error and root mean square error of VAR model are quitely low and adjusted coefficient of determination is higher. This conclusion is reasonable when we consider current construction investment has sustained overheating growth more than secular trend.

• Journal of Digital Convergence
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• v.16 no.8
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• pp.169-179
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• 2018

Recently, web search query information has been applied in advanced predictive model research. Google dominates the global web search market in the Korean market; however, Naver possesses a dominant market share. Based on this characteristic, this study intends to compare the utility of the Korean web search query information of Google and Naver using predictive models. Therefore, this study develops three time-series predictive models to estimate the youth unemployment rate in Korea using the ARIMA model. Model 1 only used the youth unemployment rate in Korea, whereas Models 2 and 3 added the Korean web search query information of Naver and Google, respectively, to Model 1. Compared to the predictability of the models during the training period, Models 2 and 3 showed better fit compared with Model 1. Models 2 and 3 correlated different query information. During predictive periods 1 (continuous with the training period) and 2 (discontinuous with the training period), Model 3 showed the best performance. During predictive period 2, only Model 3 exhibited a significant prediction result. This comparative study contributes to a general understanding of the usefulness of Korean web query information using the Naver and Google search engines.

• The Korean Journal of Applied Statistics
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• v.34 no.5
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• pp.723-734
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• 2021

Wind energy is one of the rapidly developing renewable energies which is being developed and invested in response to climate change. As renewable energy policies and power plant installations are promoted, the supply of wind power in Korea is gradually expanding and attempts to accurately predict demand are expanding. In this paper, the ARIMA and ARIMAX models which are Time series techniques and the SVR, Random Forest and XGBoost models which are machine learning models were compared and analyzed to predict wind power generation in the Jeonnam and Gyeongbuk regions. Mean absolute error (MAE) and mean absolute percentage error (MAPE) were used as indicators to compare the predicted results of the model. After subtracting the hourly raw data from January 1, 2018 to October 24, 2020, the model was trained to predict wind power generation for 168 hours from October 25, 2020 to October 31, 2020. As a result of comparing the predictive power of the models, the Random Forest and XGBoost models showed the best performance in the order of Jeonnam and Gyeongbuk. In future research, we will try not only machine learning models but also forecasting wind power generation based on data mining techniques that have been actively researched recently.

• Water for future
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• v.28 no.1
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• pp.81-90
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• 1995

This study attempts to develop a stochastic system model for extension and prediction of monthly runoff series in river basins where the observed runoff data are insufficient although there are long-term hydrometeorological records. For this purpose, univariate models of a seasonal ARIMA type are derived from the time series analysis of monthly runoff, monthly precipitation and monthly evaporation data with trend and periodicity. Also, a causual model of multiple input-single output relationship that take monthly precipitation and monthly evaporation as input variables-monthly runoff as output variable is built by the cross-correlation analysis of each series. The performance of the univariate model and the multiple input-output model were examined through comparisons between the historical and the generated monthly runoff series. The results reveals that the multiple input-output model leads to the improved accuracy and wide range of applicability when extension and prediction of monthly runoff series is required.

• Environmental Engineering Research
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• v.20 no.3
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• pp.268-276
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• 2015

Solid waste production increases due to population and consumption increments. Landfill is the ultimate destination for all kinds of municipal solid waste; and is the most convenient waste disposal method in developing countries. To minimize investment and operational costs and society's opposition towards locating landfills nearby, proper landfill sizing and siting are essential. In this study, solid waste forecasting using Autoregressive Integrating Moving Average (ARIMA) was integrated with government future plans and waste composition to estimate the required landfill area for the state of Selangor, Malaysia. Landfill siting criteria were then prioritized based on expert's preferences. To minimize ambiguity and the uncertainty of the criteria prioritizing process, the expert's preferences were treated using integrated Median Ranked Sample Set (MRSS) and Analytic Hierarchy Process (AHP) models. The results show that the required landfill area is 342 hectares and the environmental criteria are the most important; with a priority equal to 48%.

• The Journal of Bigdata
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• v.4 no.2
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• pp.105-114
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• 2019

Missing value replacement is one of the big issues in data analysis. If you ignore the occurrence of the missing value and proceed with the analysis, a bias can occur and give incorrect results for the estimate. In this paper, we need to find and apply an appropriate alternative to missing data from weather data. Through this, we attempted to clarify and compare the simulations for various situations using existing methods such as MICE and MissForest based on R and time series-based models. When comparing these results with each variable, it was determined that the kalman filter of the auto arima model using the ImputeTS package and the MissForest model gave good results in the weather data.

• Journal of applied mathematics & informatics
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• v.5 no.2
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• pp.373-382
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• 1998

Most of the works in Time Series Analysis are based on the Auto Regressive Integrated Moving Average (ARIMA) models presented by Box and Jeckins(1976). If the data exhibits no ap-parent deviation from stationarity and if it has rapidly decreasing autocorrelation function then a suitable ARIMA(p,q) model is fit to the given data. Selection of the orders of p and q is one of the crucial steps in Time Series Analysis. Most of the methods to determine p and q are based on the autocorrelation function and partial autocor-relation function as suggested by Box and Jenkins (1976). many new techniques have emerged in the literature and it is found that most of them are over very little use in determining the orders of p and q when both of them are non-zero. The Durbin-Levinson algorithm and Innovation algorithm (Brockwell and Davis 1987) are used as recur-sive methods for computing best linear predictors in an ARMA(p,q)model. These algorithms are modified to yield an effective method for ARMA model identification so that the values of order p and q can be determined from them. The new method is developed and its validity and usefulness is illustrated by many theoretical examples. This method can also be applied to an real world data.

• Asian Journal of Business Environment
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• v.7 no.4
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• pp.35-41
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• 2017

Purpose - This paper aims to examine several time series models to predict sales of department stores and discount store markets in South Korea, while other previous trial has performed sales of convenience stores and supermarkets. In addition, optimal predicted values on the underlying model can be got and be applied to distribution industry. Research design, data, and methodology - Two retailing types, under investigation, are homogeneous and comparable in size based on 86 realizations sampled from January 2010 to February in 2017. To accomplish the purpose of this research, both ARIMA model and exponential smoothing methods are, simultaneously, utilized. Furthermore, model-fit measures may be exploited as important tools of the optimal model-building. Results - By applying Holt-Winters' additive seasonality method to sales of two large-scale retailing types, persisting increasing trend and fluctuation around the constant level with seasonal pattern, respectively, will be predicted from May in 2017 to February in 2018. Conclusions - Considering 2017-2018 forecasts for sales of two large-scale retailing types, it is important to predict future sales magnitude and to produce the useful information for reforming financial conditions and related policies, so that the impacts of any marketing or management scheme can be compared against the do-nothing scenario.

• International conference on construction engineering and project management
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• 2011.02a
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• pp.1-6
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• 2011

As large-scale building projects have recently increased for the residential, commercial and office facilities, construction costs for these projects have become a matter of great concern, due to their significant construction cost implications, as well as unpredictable market conditions and fluctuations in the rate of inflation during the projects' long-term construction periods. In particular, recent volatile fluctuations of construction material prices fueled such problems as cost forecasting. This research develops a time series model using the Box-Jenkins approach and material price time series data in Korea in order to forecast trends in the unit prices of required materials. Building information modeling (BIM) approaches are also used to analyze injection times of construction resources and to conduct quantity take-off so that total material prices can be forecast. To determine an optimal time series model for forecasting price trends, comparative analysis of predictability of tentative autoregressive integrated moving average (ARIMA) models is conducted. The proposed BIM-based time series forecasting model can help to deal with sudden changes in economic conditions by estimating material prices that correspond to resource injection times.

• Asia-Pacific Journal of Business
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• v.14 no.4
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• pp.343-356
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• 2023

Purpose - This study attempted to predict short-term transportation demand using trains and getting off at Gangchon Station. Through this, we present numerical data necessary for future tourist inflow policies in the Gangchon area of Chuncheon and present related implications. Design/methodology/approach - This study collected and analyzed transportation demand data from Gangchon Station using the Gyeongchun Line and ITX-Cheongchun Train from January 2014 to August 2023. Winters exponential smoothing model and ARIMA model were used to reflect the trend and seasonality of the raw data. Findings - First, transportation demand using trains to get off at Gangchon Station in Chuncheon City is expected to show a continuous increase from 2020 until the forecast period is 2024. Second, the number of passengers getting off at Gangchon Station was found to be highest in May and October. Research implications or Originality - As transportation networks are improving nationwide and people's leisure culture is changing, the number of tourists visiting the Gangchon area in Chuncheon City is continuously decreasing. Therefore, in this study, a time series model was used to predict short-term transportation demand alighting at Gangchon Station. In order to calculate more accurate forecasts, we compared models to find an appropriate model and presented forecasts.