• The Journal of Industrial Distribution & Business
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• v.9 no.10
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• pp.83-89
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• 2018

Purpose - The purpose of this study examines when the optimism impact on financial asset price forecasting and the boundary condition of optimism in the financial asset price forecasting. People generally tend to optimistically forecast their future. Optimism is a nature of human beings and optimistic forecasting observed in daily life. But is it always observed in financial asset price forecasting? In this study, two factors were focused on considering whether the optimism that people have applied to predicting future performance of financial investment products (e.g., mutual fund). First, this study examined whether the degree of optimism varied depending on the direction of the prior price trend. Second, this study examined whether the degree of optimism varied according to the forecast period by dividing the future forecasted by people into three time horizon based on forecast period. Research design, data, and methodology - 2 (prior price trend: rising-up trend vs falling-down trend) × 3 (forecast time horizon: short term vs medium term vs long term) experimental design was used. Prior price trend was used between subject and forecast time horizon was used within subject design. 169 undergraduate students participated in the experiment. χ² analysis was used. In this study, prior price trend divided into two types: rising-up trend versus falling-down trend. Forecast time horizon divided into three types: short term (after one month), medium term (after one year), and long term (after five years). Results - Optimistic price forecasting and boundary condition was found. Participants who were exposed to falling-down trend did not make optimistic predictions in the short term, but over time they tended to be more optimistic about the future in the medium term and long term. However, participants who were exposed to rising-up trend were over-optimistic in the short term, but over time, less optimistic in the medium and long term. Optimistic price forecasting was found when participants forecasted in the long term. Exposure to prior price trends (rising-up trend vs falling-down trend) was a boundary condition of optimistic price forecasting. Conclusions - The results indicated that individuals were more likely to be impacted by prior price tends in the short term time horizon, while being optimistic in the long term time horizon.

• Korea Trade Review
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• v.46 no.6
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• pp.191-209
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• 2021

In this paper, various time series analysis models and machine learning models are presented for long-term prediction of export growth rate, and the prediction performance is compared and reviewed by RMSE and MAE. Export growth rate is one of the major economic indicators to evaluate the economic status. And It is also used to predict economic forecast. The export growth rate may have a negative (-) value as well as a positive (+) value. Therefore, Instead of using the ReLU function, which is often used for time series prediction of deep learning models, the PReLU function, which can have a negative (-) value as an output value, was used as the activation function of deep learning models. The time series prediction performance of each model for three types of data was compared and reviewed. The forecast data of long-term prediction of export growth rate was deduced by three forecast methods such as a fixed forecast method, a recursive forecast method and a rolling forecast method. As a result of the forecast, the traditional time series analysis model, ARDL, showed excellent performance, but as the time period of learning data increases, the performance of machine learning models including LSTM was relatively improved.

• Journal of Korea Water Resources Association
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• v.44 no.12
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• pp.967-974
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• 2011

Based on daily time series from RDAPS numerical weather forecast, Streamflow prediction was simulated and the result of ESP analysis was implemented considering quantitative mid- and long-term forecast to compare the results and review applicability. The result of ESP, ESP considering quantitative weather forecast, and flow forecast from RDAPS numerical weather forecast were compared and analyzed with average observed streamflow in Guem River Basin. Through this process, the improvement effect per method was estimated. The result of ESP considering weather information was satisfactory relatively based on long-term flow forecast simulation result. Discrepancy ratio analysis for estimating accuracy of probability forecast had similar result. It is expected to simulate more accurate flow forecast for RDAPS numerical weather forecast with improved daily scenario including time resolution, which is able to accumulate 3 hours rainfall or continuous simulation estimation.

• Communications for Statistical Applications and Methods
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• v.26 no.5
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• pp.497-506
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• 2019

Forecasting the U.S. employment level is made using machine learning methods of the artificial neural network: deep neural network, long short term memory (LSTM), gated recurrent unit (GRU). We consider the big data of the federal reserve economic data among which 105 important macroeconomic variables chosen by McCracken and Ng (Journal of Business and Economic Statistics, 34, 574-589, 2016) are considered as predictors. We investigate the influence of the two statistical issues of the dimension reduction and time series differencing on the machine learning forecast. An out-of-sample forecast comparison shows that (LSTM, GRU) with differencing performs better than the autoregressive model and the dimension reduction improves long-term forecasts and some short-term forecasts.

• Journal of Korean Society of Water and Wastewater
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• v.20 no.2
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• pp.187-196
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• 2006

Forecasting the long-term water demand is important in the plan of water supply system because the location and capacity of water facilities are decided according to it. To forecast the long-term water demand, the existing method based on lpcd and population has been usually used. But, these days the trend among the variation of water demand has been disappeared, so expressing other variation of it is needed to forecast correct water demand. To accomplish it, we introduced the System Dynamics method to consider total connections of water demand factor. Firstly, the factors connected with water demand were divided into three sectors(water demand, industry, and population sectors), and the connections of factors were set with multiple regression model. And it was compared to existing method. The results are as followings. The correlation efficients are 0.330 in existing model and 0.960 in SD model and MAE are 3.96% in existing model and 1.68% in SD model. So, it is proved that SD model is superior to the existing model. To forecast the long-term water demand, scenarios were made with variations of employment condition, economic condition and consumer price indexes and forecasted water demands in 2012. After all scenarios were performed, the results showed that it was not needed to increase the water supply ability in Seoul.

• Journal of Korean Society of Coastal and Ocean Engineers
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• v.34 no.6
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• pp.222-232
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• 2022

In this study we investigated the characteristics of long-term tidal constituents based on 30 tidal gauge data along the coasts of Korea and its the effects on total water level (TWL) forecasts. The results show that the solar annual (Sa) and semiannual (Ssa) tides were dominant among long-term tidal constituents, and they are relatively large in western coast of Korea peninsula. To investigate the effect of long-term tidal constituents on TWL forecasts, we produced predicted tides in 2021 with and without long-term tidal constituents. The TWL forecasts with and without long-term tidal constituents are then calculated by adding surge forecasts into predicted tides. Comparing with the TWL without long-term tidal constituents, the results with long-term tidal constituents reveals small bias in summer and relatively large negative bias in winter. It is concluded that the large error found in winter generally caused by double-counting of meteorological factors in predicted tides and surge forecasts. The predicted surge for 2021 based on the harmonic analysis shows seasonality, and it reduces the large negative bias shown in winter when it subtracted from the TWL forecasts with long-term tidal constituents.

• Journal of Korean Academy of Nursing
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• v.30 no.2
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• pp.437-451
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• 2000

The purpose of this study was to estimate the forecast of bed demand for institutional long-term care for the elderly persons in Taegu Metropolitan City. The study subject was the total 1,877 elderly persons over age 65 living in Taegu. Among them 1,441 elderly persons were sampled from community and 436 were from the elderly admitted 5 general hospitals. Data collection was carried out by interview from 25 August to 25 December 1997. The measuring instrument of this study was the modified tool of CARE, MAI, PCTC, and ADL which were examined for validity and reliability. In order to forecast bed demand of Nursing Home, this study revised prediction techniques suggested by Robin. The results were as follows : 1. OLDi of Taegu City were 122,202 by the year 1998 and number of Low-Income Elderly Persons were 3,210. 2. The Level I : Senior Citizen Home $ADEMi=\frac{AQi * ASTAYi}{365 * AOCUi}$. AQi = OLDi * LADLi * NASi * ALONi * LIADLi * AUTILi. Predicted number of bed demand for Home Based. Elderly Persons were 4,210 and Low-Income Elderly Persons were 1,081 and Total Elderly Persons were 5,291 by the year 1998, 6,343 by the year 2000 and 8,351 by the 2005. 3. The Level II : Nursing Home $BDEMi=\frac{(BQ1i+BQ2i) * BSTAYi}{365 * BOCUi}$. BQ1i = OLDi * HADLi * ALONi * HIADLi BQ2i = OLDi * HADLi * FAMi * OBEDi Predicted number of demand for Total Elderly Persons were 668 by the year 1998, 802 by the year 2000 and 1,055 by the 2005. 4. The Level III : Nursing Home $CDEMi=\frac{COLDi * HDISi * CUTILi * CSTAYi}{365 * COCUi}+OQi/10$ Predicted number of demand for Total Elderly Persons were 1,899 by the year 1998, 2,311 by the year 2000 and 3,003 by the 2005. 5. Predicted number of bed demand of long-term care facilities in the year 1998 according to Levels were 4.3% among elderly persons in Taegu by Level I, 0.5% by Level II and 1.5% by Level III. Number of elderly persons in current long-term care facilities were 458 in LevelI I,284 in Level II. 6. Deficit number of bed demand of long-term care facilities were 4,833 in Level I, 384 in Level II, 1,899 in Level III for the elderly persons in Taegu Metropolitan City.

• Proceedings of the KIEE Conference
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• 2005.07a
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• pp.843-845
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• 2005

The uncertainty of long term electricity plan consists of the uncertainty of demand forecast and additional generating capacity. Demand forecast is clearly improved the accuracy than the past through improving forecasting methods. However, the uncertainty of additional generating capacity is increased due to the change of market environment. In an operation by a sole utility, additional generating capacity would be possible by the regulation of government. Currently the generation companies have spined off from KEPCO and some IPPs participate the electricity market. It increases the uncertainty due to weakened regulation. Also the environment movement by NGOs and occurrence of civil affairs cause the increase of uncertainty. This research would analyze the current situation on the uncertainty of additional generating capacity and construction delays. Furthermore this research would present the plan to reflecting it in long term electricity plan.

• Korean Journal of Agricultural Science
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• v.25 no.1
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• pp.41-51
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• 1998

This study not only carried out to grasp about the sununarized characteristics of the relationship between international timber market and production trend of wood products, but also focused on the analysis of korean wood demand and the long-term forecast with econometric analysis. The result of regression analysis for wood demand in Korea is that coniferous roundwood demand(CIWD) is explained by coniferous foreign roundwood price(CWRI), Gross domestic product(GDP), a dummy variable. Non-coniferous roundwood demand(NCIWD)is explained by non-coniferous roundwood price(NCWRI), coniferous roundwood price(CWRI), a dummy variable. As the result of long-term forecast by base case, the total roundwood demand was forecasted $11,107,000m^3$ in the year 2000, $11,781,000m^3$ in 2005, $12,565,000m^3$ in 2010. As the result of scenario 1, total roundwood demand was forecasted $11,027,000m^3$ in 2000, $11,435,000m^3$ in 2005, $11,952,000m^3$ in 2010. And as the result by scenario 2, total roundwood demand was forecasted $11,341,000m^3$ in 2000, $12,208,000m^3$ in 2005 $13,257,000m^3$ in 2010.

• Journal of Satellite, Information and Communications
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• v.12 no.3
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• pp.22-34
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• 2017

The K-DRUM(K-water hydrologic & hydraulic Distributed RUnoff Model), a distributed rainfall-runoff model of K-water, calculates predicted runoff and water surface level of a dam using precipitation data. In order to obtain long-term hydrometeorological information, K-DRUM requires long-term weather forecast. In this study, we built a system providing long-term hydrometeorological information using predicted rainfall ensemble of GloSea5(Global Seasonal Forecast System version 5), which is the seasonal meteorological forecasting system of KMA introduced in 2014. This system produces K-DRUM input data by automatic pre-processing and bias-correcting GloSea5 data, then derives long-term inflow predictions via K-DRUM. Web-based UI was developed for users to monitor the hydrometeorological information such as rainfall, runoff, and water surface level of dams. Through this UI, users can also test various dam management scenarios by adjusting discharge amount for decision-making.