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This study examined the behavioural pattern, determine the best fitted model and to forecast the tin metal market price used in casting process in manufacturing the CamPro cylinder block for year 2015. In this paper, the purpose is to evaluate the best method of forecast technique by looking at the...

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Bibliographic Details
Main Author: Muhamad Mahfuz, Nurshazwani
Format: Monograph
Language:English
Published: Bachelor of Science (Hons.) Statistics 2015
Subjects:
Online Access:https://ir.uitm.edu.my/id/eprint/34412/1/34412.pdf
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Summary:This study examined the behavioural pattern, determine the best fitted model and to forecast the tin metal market price used in casting process in manufacturing the CamPro cylinder block for year 2015. In this paper, the purpose is to evaluate the best method of forecast technique by looking at the smallest MSE (Mean Square Error). The results from a 137 data of tin metal market price indicate that: 1. The behavioural pattern is the trend pattern from April 2003 until August 2014. 2. The best forecast method is ARIMA (1, 1, 1) compared to others with 19.46 of MSE value. 3. The forecast for the year 2015 of tin metal market price shows increasing with stability. That is, when the MSE is small value compared to the others models value, and then there will be the best method ever to forecast in the required time series accordingly