Economic forecast based on Markov chain

DOI

10.2991/iceeecs-16.2016.176How to use a DOI?

Keywords

Markov chain; state transition probability; market share; expected profit

Abstract

Economic forecasting is very important for market forecast analysis and market management decision. The paper proposes the application of Markov chain in economic forecast. Firstly, give the Markov base theory. Secondly, discuss the process of economic forecast based on Markov chain. Finally, forecast the expected profit using real data. Experimental results show that Markov theory could be used in real economic environment. It has important guiding significance in marketing activities.

Copyright

© 2016, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Jiya Tian
AU  - Yong Zhang
AU  - Nan Li
PY  - 2016/12
DA  - 2016/12
TI  - Economic forecast based on Markov chain
BT  - Proceedings of the 2016 4th International Conference on Electrical & Electronics Engineering and Computer Science (ICEEECS 2016)
PB  - Atlantis Press
SP  - 908
EP  - 914
SN  - 2352-538X
UR  - https://doi.org/10.2991/iceeecs-16.2016.176
DO  - 10.2991/iceeecs-16.2016.176
ID  - Tian2016/12
ER  -