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Formulation of A Sale Price Prediction Model Based on Fuzzy Regression Analysis

In: Operations Research Proceedings 2011

Author

Listed:
  • Michihiro Amagasa

    (Hokkai-Gakuen University)

Abstract

It is indispensable for companies to take some marketing strategy to predict and analyze the sale price met to customer satisfaction. In sale price prediction model, human factors are included in the elements composing the model, and it is getting more difficult to define and describe entire systems precisely. Therefore in case we obtain data from such a model, the data are accompanied by human subjective and experiential uncertainty. In this paper, we develop a theoretical formulation of sale price prediction model based on fuzzy regression with fuzzy input-output data (SPP-model). The solutions of SPP-model is found by solving two LP problems, both Min- and Max-problems, and each of them indicates upper and lower bounds of possibility for solutions (prices).

Suggested Citation

  • Michihiro Amagasa, 2012. "Formulation of A Sale Price Prediction Model Based on Fuzzy Regression Analysis," Operations Research Proceedings, in: Diethard Klatte & Hans-Jakob Lüthi & Karl Schmedders (ed.), Operations Research Proceedings 2011, edition 127, pages 567-572, Springer.
    • Handle: RePEc:spr:oprchp:978-3-642-29210-1_90
    DOI: 10.1007/978-3-642-29210-1_90
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