Forecasting based on Markov chain modely
V. Ramasubramanian, Ravindra Singh Shekhawat, SATYA PRAKASH SINGH
Abstract
V. Ramasubramanian, Ravindra Singh Shekhawat, SATYA PRAKASH SINGH
Abstract
In this paper, we try to forecast crop yield by the probability model based on Markov Chain theory, which overcomes some of the drawbacks of the regression model. Markov Chain models are not constrained by a parametric assumption and are robust against outliers and extreme values. Here, multiple order Markov chain were utilized.
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In this paper, we try to forecast crop yield by the probability model based on Markov Chain theory, which overcomes some of the drawbacks of the regression model. Markov Chain models are not constrained by a parametric assumption and are robust against outliers and extreme values. Here, multiple order Markov chain were utilized.
Key concepts: Markov chain, Outlier, Markov model, Variable-order Markov model, Econometrics, Parametric statistics, Mathematics, Additive Markov chain