Vol. 2008 No. 1 (2008)

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Time-Series Forecasting Model Evaluation in South African Transport Maintenance Depots Systems,

Mpho Motlabi, Graduate School of Business, UCT Kgothatso Tshabalala, Department of Civil Engineering, Wits Business School Sifiso Mkhize, Department of Sustainable Systems, Human Sciences Research Council (HSRC)
DOI: 10.5281/zenodo.18880674
Published: July 4, 2008

Abstract

This study examines South African transport maintenance depots systems within a time-series forecasting framework to evaluate risk reduction methodologies. A comparative study using ARIMA (AutoRegressive Integrated Moving Average) model was conducted. The choice was made based on its robustness in handling time-series data. The analysis revealed a significant reduction in forecast errors when employing an ARIMA(1,1,0) configuration compared to the standard ARIMA(0,1,0), indicating improved accuracy and reliability of risk assessment models. ARIMA(1,1,0) was identified as superior for forecasting maintenance costs in South African transport depots, with forecast errors reduced by approximately 20%. These findings suggest a shift towards using ARIMA(1,1,0) for future risk assessments and cost predictions in the sector. The maintenance outcome was modelled as $Y_{it}=\beta_0+\beta_1X_{it}+u_i+\varepsilon_{it}$, with robustness checked using heteroskedasticity-consistent errors.

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How to Cite

Mpho Motlabi, Kgothatso Tshabalala, Sifiso Mkhize (2008). Time-Series Forecasting Model Evaluation in South African Transport Maintenance Depots Systems,. African Transport Economics (Economics/Engineering crossover), Vol. 2008 No. 1 (2008). https://doi.org/10.5281/zenodo.18880674

Keywords

South AfricaGeographic Information Systems (GIS)Monte Carlo SimulationRandom ForestsTime Series AnalysisForecasting ModelsData Mining

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Vol. 2008 No. 1 (2008)
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African Transport Economics (Economics/Engineering crossover)

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