Proceedings of the International Conference on Electronics, Mechanics, Culture and Medicine

Research on Forecasting the Cost of Residential Construction Based on PCA and LS-SVM

Authors
Zhongfu Qin, Xiaolong Lei, Liqing Meng
Corresponding Author
Zhongfu Qin
Available Online February 2016.
DOI
https://doi.org/10.2991/emcm-15.2016.17How to use a DOI?
Keywords
Residential construction; Indicators; costs forecasting; Principal component analysis; Least squares support vector machine
Abstract
To forecast the costs of a residential construction rapidly and accurately in the initial stage of construction and lack of relevant information. Based on the strengths and weaknesses of previous studies about it, a new model to forecast the costs of a residential construction which is based on Principal Component Analysis (PCA) and Least Squares Support Vector Machine (LS-SVM) is proposed. First based on the factors analysis in the costs of a residential construction, chooses the indicators and samples of residential construction for the prediction of the Construction Costs, after which submits the selected indicators data to the Principal Component Analysis(PCA) to eliminate the Correlation in it; then, the new indicators data is imported into the Least Squares Support Vector Machine (LS-SVM) and training in it to build a new model to forecast the costs of a residential construction. Finally, selects 5 projects in conjunction with the new model for simulation analysis, the relative error are controlled within±7%.
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Proceedings
International Conference on Electronics, Mechanics, Culture and Medicine
Part of series
Advances in Computer Science Research
Publication Date
February 2016
ISBN
978-94-6252-163-6
ISSN
2352-538X
DOI
https://doi.org/10.2991/emcm-15.2016.17How to use a DOI?
Open Access
This is an open access article distributed under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Zhongfu Qin
AU  - Xiaolong Lei
AU  - Liqing Meng
PY  - 2016/02
DA  - 2016/02
TI  - Research on Forecasting the Cost of Residential Construction Based on PCA and LS-SVM
BT  - International Conference on Electronics, Mechanics, Culture and Medicine
PB  - Atlantis Press
SP  - 84
EP  - 88
SN  - 2352-538X
UR  - https://doi.org/10.2991/emcm-15.2016.17
DO  - https://doi.org/10.2991/emcm-15.2016.17
ID  - Qin2016/02
ER  -