An Application of Grey Wolf Optimizer for Commodity Price Forecasting

Zuriani Mustaffa; Mohd Herwan Sulaiman; Yuhanis Yusof

doi:10.4028/www.scientific.net/AMM.785.473

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HomeApplied Mechanics and MaterialsApplied Mechanics and Materials Vol. 785An Application of Grey Wolf Optimizer for...

An Application of Grey Wolf Optimizer for Commodity Price Forecasting

Abstract:

Over the recent decades, there are many nature inspired optimization algorithms have been introduced. In this study, a newly algorithm namely Grey Wolf Optimizer (GWO) is employed for gasoline price forecasting. The performance of GWO is compared against the results produced by Artificial Bee Colony (ABC) algorithm and Differential Evolution (DE) algorithm. Measured based on Mean Absolute Percentage Error (MAPE) and prediction accuracy, the GWO is proven to produce significantly better results as compared to the identified algorithms.

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Periodical:

Applied Mechanics and Materials (Volume 785)

Pages:

473-478

DOI:

https://doi.org/10.4028/www.scientific.net/AMM.785.473

Citation:

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Online since:

August 2015

Authors:

Zuriani Mustaffa*, Mohd Herwan Sulaiman, Yuhanis Yusof

Keywords:

Grey Wolf Optimizer, Parameter Tuning, Price Forecasting

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* - Corresponding Author

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