Air Traffic Forecasting Using Optimization for Econometric Models
Volume 3, Issue 5 Tolebi Sailauov, Z. W. Zhong
Published online: 24 October 2017
Article Views: 42
Abstract
This paper proposes a new way of forecasting air traffic by combining the optimization model with the econometric model. In other words, this paper proposes the way how to combine optimization and modeling together to forecast future air traffic. Forecasting has always been playing an important role for any company or organization. Air traffic forecasting is no exception. General formulas for the calculation of the aircraft volume and passenger volume in airports have been proposed. Using these formulas, an econometric model for passenger volume in Changi airport has been obtained. Furthermore, by using this model, Singapore air traffic passenger numbers have been predicted for 2016-2021. Accurate air traffic forecasting will help plan future projects, management decisions, such as how much investment is needed, which projects to develop, which projects to postpone, etc.
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To Cite this article
T. Sailauov and Z.W. Zhong “Air traffic forecasting using optimization for econometric models.” International Journal of Technology and Engineering Studies, vol. 3, no. 5, pp. 197-203, 2017.
