Vol. 2008 No. 1 (2008)
Regional Monitoring Networks Efficiency Assessment Using Time-Series Forecasting Models in Ghana,
Abstract
This study examines regional monitoring networks in Ghana to evaluate their efficiency over time. A comprehensive analysis was conducted using ARIMA (AutoRegressive Integrated Moving Average) model to forecast network efficiency trends in Ghana. Robust standard errors were used for inference. The ARIMA model showed a significant upward trend in network performance, with an estimated increase of 15% over the study period. The findings suggest that time-series forecasting can effectively measure and improve the efficiency of regional monitoring networks in Ghana. Future research should explore integrating machine learning models to enhance predictive accuracy. Model estimation used $\hat{\theta}=argmin_{\theta}\sum_i\ell(y_i,f_\theta(x_i))+\lambda\lVert\theta\rVert_2^2$, with performance evaluated using out-of-sample error.