Application of the VARMA Model for Sales Forecast: Case of Urmia Gray Cement Factory

  • Ramin BASHIR KHODAPARASTI <p>Urmia University</p>
  • Samad MOSLEHI University of Pyame Noor
Keywords: Forecasting Models, Autoregressive process.

Abstract

To forecast sales as reliably as possible is one of the most important issues in every business trade. Therefore, in recent years different models have been suggested to deal with this issue. One efficient model is the time series model. This study applies a multivariate time series model to forecast Urmia Gray Cement Factory's sales volume and more importantly, to propose an effective model to be used by other cement factories to predict their sales volume. The two independent variables of costs and revenues and the dependent variable of sales were used in the present study. Results of the study indicated the two independent variables had a positive and direct relationship with sales volume forecast.

Author Biographies

Ramin BASHIR KHODAPARASTI, <p>Urmia University</p>

Faculty of Economics and Management, Management department

Assistant professor

Samad MOSLEHI, University of Pyame Noor
Master of Statistics

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Published
2014-08-18
How to Cite
BASHIR KHODAPARASTI, R., & MOSLEHI, S. (2014). Application of the VARMA Model for Sales Forecast: Case of Urmia Gray Cement Factory. Timisoara Journal of Economics and Business, 7(1), 89-101. Retrieved from http://tjeb.ro/index.php/tjeb/article/view/TJEB7-1_89to101
Section
Articles