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Title: The Application of Grey System Theory on Forecasting International Crude Oil Price
Source: International Conference on Engineering and Business Management 2012(Part 5 Innovative Technology) (pp 3892-3895)
Author(s): Zhisheng Dong, College of Economics and Management, Qujing Normal University, Qujing, China
Gusheng Zhu, Development Research Centre of Qujing Normal University, Qujing Normal University, Qujing, China
Abstract: International crude oil price has fluctuated in a relatively large amplitude fluctuation in recent years, so the accurately prediction of international crude oil price is very important for a country and a company. There are a lot of means to forecast the trend of things, but if the problem is uncertain and the information is lacking, grey system theory (GST) is an efficient method. In this work we forecast international crude oil price by using GST and modify the results by Fourier error correction. We create a Mat Lab program to achieve it.
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