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Estimation of Industrial Production Costs, Using Regression Analysis, Neural Networks or Hybrid Neural - Regression Method?

Author

Listed:
  • Esmaiel Abounoori

    (Associate Professor of Economics and Social Statistics, Department of Economics, University of Mazandaran, Babolsar-Iran)

  • Morteza Bagherpour

    (Department of Socio-economics System Engineering, Mazandaran University of Science & Technology, Babol-Iran)

Abstract

Estimation (Forecasting) of industrial production costs is one of the most important factor affecting decisions in the highly competitive markets. Thus, accuracy of the estimation is highly desirable. Hibrid Regression Neural Network is an approach proposed in this paper to obtain better fitness in comparison with Regression Analysis and the Neural Network methods. Comparing the estimated results from Regression Analysis and Neural Networks with the Hybrid Neural-Regression method has indicated the superiority of the latter method.

Suggested Citation

  • Esmaiel Abounoori & Morteza Bagherpour, 2006. "Estimation of Industrial Production Costs, Using Regression Analysis, Neural Networks or Hybrid Neural - Regression Method?," Iranian Economic Review (IER), Faculty of Economics,University of Tehran.Tehran,Iran, vol. 11(2), pages 17-29, spring.
    • Handle: RePEc:eut:journl:v:11:y:2006:i:2:p:17
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