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  DOI Prefix   10.20431


 

International Journal of Modern Studies in Mechanical Engineering
Volume 2, Issue 2, 2016, Page No: 1-8
doi:dx.doi.org/10.20431/2454-9711.0202001

Application of Forecasting Techniques in Nissan Urvan Income Generation of Anambra State Transport Sector

Godwin, Harold C.1, Umeozokwere, Anthony O.2, Ezemuo Daniel T.2

1.Department of Industrial/Production Engineering, Nnamdi Azikiwe University, Awka.
2.Department of Mechanical Engineering Technology, Federal Polytechnic Oko.

Citation : Godwin Harold C., Umeozokwere Anthony O., Ezemuo Daniel T., Application of Forecasting Techniques in Nissan Urvan Income Generation of Anambra State Transport Sector International Journal of Modern Studies in Mechanical Engineering 2016, 2(2) : 1-8

Abstract

This research work studies several forecasting techniques to predict future income generation and its implications on the Nissan Urvan income generation in Anambra State Transport sector .This paper presents three forecasting models (time series decomposition method, winter's method and Arima method) to analyze data income generation of Anambra State Transport Sector over the period of 2005-2019, it is important to know the trend in Anambra Transport Sector to elicit patterns of incomes generated. However, the models used were based on applicable methodology to facilitate accurate and faster analysis of data. The results reveal that the future income generated for the products will continuously decrease with time. Having observed the values obtained from the models used, it is recommended that the company should employ time series decomposition forecasting model because it gives more accurate result with less error


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