Application of grey prediction theory to forecast scientisits and technicians within the high-tech industries of Henan province in China

Author

Li, Wuwei ; Wei, Yueru

Author_Institution

Zhengzhou Inst. of Aeronaut. Ind. Manage., Zhengzhou, China

fYear

2011

fDate

16-18 Dec. 2011

Firstpage

367

Lastpage

370

Abstract

Based on the statistical data, over the period from 2004 to 2007 released by China Statistics Yearbook on High Technology Industry, this paper aims to predict the amount of scientists and technicians within the high-tech industries of Henan province in China by the usage of GM (1,1) model with the four items. The result of this empirical study is that the GM (1,1) model established in this paper can fit the amount of scientists and technicians within the high-tech industries of Henan province. The accuracy of the prediction results from the two established GM (1,1) models is above 95% and is higher than those from the established regression models in this paper, and corresponds with a distinction, which the grey prediction theory can meet expectations with small samples or data.

Keywords

grey systems; industrial economics; prediction theory; regression analysis; statistical analysis; China statistics yearbook; GM models; Henan province; forecast scientist; forecast technicians; grey prediction theory; high technology industry; high-tech industries; regression models; Analytical models; Data models; Economics; Industries; Mathematical model; Predictive models; Technological innovation; gm(1,1) method; grey theory; high-tech industries; regression model; scientists and technicians;

fLanguage

English

Publisher

ieee

Conference_Titel

Transportation, Mechanical, and Electrical Engineering (TMEE), 2011 International Conference on

Conference_Location

Changchun

Print_ISBN

978-1-4577-1700-0

Type

conf

DOI

10.1109/TMEE.2011.6199219

Filename

6199219