Forecasting the Number Of External Pilgrims: The Ratio-To-Trend Classical Decomposition Method

Document Type : Original Article

Author

Dep. of Quantitative Methods College of Administrative Sciences, King Saud University, Saudi Arabia

Abstract

The ratio to trend classical decomposition method was used to decompose external Hajj time series into trend, seasonal, and error components, and to forecast the number of external pilgrims. On the basis of the point forecasts, interval predictions were also generated. Point predictions were accurate according to resulting value of Theil's inequality coefficient and the 95% confidence limits established around the predicted values were able to hold most of the actual values. Projection has also been attempted outside the period of forecast.

Keywords