Indonesia is the one of the world’s top coffee producing and exporting countries. Meanwhile, in this study, only focus on forecasting the total of domestic coffee consumption in Indonesia applied the Grey differential model which is called GM (1,1) model of Grey theory to predict the amount of domestic coffee consumption in Indonesia from 1990 to 2017. According to the estimated result, the average residual error of the Grey forecast model is over 5 percent. The model predicts that the total of consumption will increase in each year. Based on the experimental results, this proposed method apparently not only improve the forecasting accuracy of the original Grey models but also provide a valuable reference for Indonesia coffee farmer and industries to make the action plan for the future.
| Published in | International Journal of Business and Economics Research (Volume 6, Issue 4) |
| DOI | 10.11648/j.ijber.20170604.15 |
| Page(s) | 67-72 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2024. Published by Science Publishing Group |
Coffee, Consumption, Forecasting, GM (1,1), Grey Theory, Indonesia
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APA Style
Tien-Chin Wang, Muhammad Ghalih. (2017). Evaluation of Grey Forecasting Method of Total Domestic Coffee Consumption in Indonesia. International Journal of Business and Economics Research, 6(4), 67-72. https://doi.org/10.11648/j.ijber.20170604.15
ACS Style
Tien-Chin Wang; Muhammad Ghalih. Evaluation of Grey Forecasting Method of Total Domestic Coffee Consumption in Indonesia. Int. J. Bus. Econ. Res. 2017, 6(4), 67-72. doi: 10.11648/j.ijber.20170604.15
AMA Style
Tien-Chin Wang, Muhammad Ghalih. Evaluation of Grey Forecasting Method of Total Domestic Coffee Consumption in Indonesia. Int J Bus Econ Res. 2017;6(4):67-72. doi: 10.11648/j.ijber.20170604.15
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Download@article{10.11648/j.ijber.20170604.15,
author = {Tien-Chin Wang and Muhammad Ghalih},
title = {Evaluation of Grey Forecasting Method of Total Domestic Coffee Consumption in Indonesia},
journal = {International Journal of Business and Economics Research},
volume = {6},
number = {4},
pages = {67-72},
doi = {10.11648/j.ijber.20170604.15},
url = {https://doi.org/10.11648/j.ijber.20170604.15},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.20170604.15},
abstract = {Indonesia is the one of the world’s top coffee producing and exporting countries. Meanwhile, in this study, only focus on forecasting the total of domestic coffee consumption in Indonesia applied the Grey differential model which is called GM (1,1) model of Grey theory to predict the amount of domestic coffee consumption in Indonesia from 1990 to 2017. According to the estimated result, the average residual error of the Grey forecast model is over 5 percent. The model predicts that the total of consumption will increase in each year. Based on the experimental results, this proposed method apparently not only improve the forecasting accuracy of the original Grey models but also provide a valuable reference for Indonesia coffee farmer and industries to make the action plan for the future.},
year = {2017}
}
TY - JOUR T1 - Evaluation of Grey Forecasting Method of Total Domestic Coffee Consumption in Indonesia AU - Tien-Chin Wang AU - Muhammad Ghalih Y1 - 2017/07/19 PY - 2017 N1 - https://doi.org/10.11648/j.ijber.20170604.15 DO - 10.11648/j.ijber.20170604.15 T2 - International Journal of Business and Economics Research JF - International Journal of Business and Economics Research JO - International Journal of Business and Economics Research SP - 67 EP - 72 PB - Science Publishing Group SN - 2328-756X UR - https://doi.org/10.11648/j.ijber.20170604.15 AB - Indonesia is the one of the world’s top coffee producing and exporting countries. Meanwhile, in this study, only focus on forecasting the total of domestic coffee consumption in Indonesia applied the Grey differential model which is called GM (1,1) model of Grey theory to predict the amount of domestic coffee consumption in Indonesia from 1990 to 2017. According to the estimated result, the average residual error of the Grey forecast model is over 5 percent. The model predicts that the total of consumption will increase in each year. Based on the experimental results, this proposed method apparently not only improve the forecasting accuracy of the original Grey models but also provide a valuable reference for Indonesia coffee farmer and industries to make the action plan for the future. VL - 6 IS - 4 ER -
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