Published February 23, 2023
| Version https://www.theijbmt.com/archive/0935/2042569771.pdf
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Forecasting Steel Prices Using ARIMAX Model: A Case Study of Turkey
Authors/Creators
- 1. Department of Business Management, Istanbul Aydin University, Turkey
Description
Steel prices for Turkey as a major steel producer and exporter have substantial importance to be predicted. The ARIMA model with explanatory variables is used to assess the out-of-sample forecast accuracy with the univariate ARIMA as a benchmark. The results revealed that despite expectations, The ARIMA model with explanatory variables could not perform superior results comparing ARIMA models in a 6-month forecast horizon.
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References
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