• DocumentCode
    3247058
  • Title

    Crude oil price forecasting using fuzzy time series

  • Author

    Zhang, Xiaoxiao ; Wu, Qizong ; Zhang, Jianfeng

  • Author_Institution
    Sch. of Manage. & Econ., Beijing Inst. of Technol., Beijing, China
  • fYear
    2010
  • fDate
    20-21 Oct. 2010
  • Firstpage
    213
  • Lastpage
    216
  • Abstract
    Predicting oil price movements is very important for investors. Fuzzy time series which combine people´s subjective attitude and objective history values can help people to solve forecasting problems. It has been applied to many areas such as stock index, university enrollments, exchange rates and tourism forecasting. This paper brings fuzzy time series into short term crude oil price forecasting. We use West Taxes Intermediate oil as an example. To evaluate our method´s performances, we use root mean square error method. Experiments show that fuzzy time series can produce good forecast results.
  • Keywords
    crude oil; forecasting theory; fuzzy set theory; mean square error methods; pricing; time series; West Taxes Intermediate oil; crude oil price forecasting; exchange rates; fuzzy time series; objective history values; people subjective attitude; root mean square error method; stock index; tourism forecasting; university enrollments; Economics; Educational institutions; Crude oil price forecasting; Fuzzy time series; Root mean square error;
  • fLanguage
    English
  • Publisher
    ieee
  • Conference_Titel
    Knowledge Acquisition and Modeling (KAM), 2010 3rd International Symposium on
  • Conference_Location
    Wuhan
  • Print_ISBN
    978-1-4244-8004-3
  • Type

    conf

  • DOI
    10.1109/KAM.2010.5646256
  • Filename
    5646256