Throughput Port Demand ForecastingJeffrey E Jarrett*
Professor of Management Science and Finance, University of Rhode Island, Kingston- 02852, USA
- *Corresponding Author:
- Jeffrey E. Jarrett
Professor of Management Science and Finance
University of Rhode Island, Kingston-02852, USA
Tel: +1 401-874-1000
Received date: September 03, 2015; Accepted date: October 12, 2015; Published date: October 16, 2015
Citation: Jarrett JE (2015) Throughput Port Demand Forecasting. Int J Econ Manag Sci 4:293. doi:10.4172/2162-6359.1000293
Copyright: © 2015 Jarrett JE. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
Forecasts are numerical estimates of the future levels of sales, demand, inventories, costs imports, exports and prices, among others. For a firm, industry, a sector of the economy or the aggregate economy let alone factors such as international trade and finance. The objective is to assist management in planning, budgeting, marketing efforts, materials requirements, sustainability, the refuse from power production and efforts to restrain the effects of pollution on climate change. We indicate several procedures which are relatively easier to compute, more accurate and not dependent on finding predictor (or explanatory) variables which have coefficients of correlation which are small. By using one set of data, (port demand in units), we do short-term forecasting of up to twelve periods which are less data dependent and produce forecasts which do not require a huge investment in computer and personnel time.