Applications of Mathematics and Statistics in Economics 2017
DOI: 10.15611/amse.2017.20.29
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Modelling the Number of Road Accidents

Abstract: Modelling the number of daily road accidents can be beneficial not only for insurance companies but also for other institutions such as the national road administration, national insurers' bureau etc. Accurate predictions of the number of road accidents could be beneficial in terms of efficient liquidation planning, improving the reserving processes, streamlining the capital allocation and road maintaining. Consequently, it is relevant to build a viable model for predicting the number of daily road accidents. … Show more

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Cited by 17 publications
(13 citation statements)
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“…The GARMA approach, which restricts the parameter space, was employed by Prochazka and Camej [31] to ensure that the process is stationary. Forecasting…”
Section: Methodsmentioning
confidence: 99%
“…The GARMA approach, which restricts the parameter space, was employed by Prochazka and Camej [31] to ensure that the process is stationary. Forecasting…”
Section: Methodsmentioning
confidence: 99%
“…The most widely used methods for forecasting the number of accidents are time series methods [17]- [18], but they have the disadvantage of frequently autocorrelating the residual component and the inability to assess the forecast's accuracy based on previous predictions [19]. Procházka et al [20]'s multiple seasonality model and Sunny et al [21]'s Holt-Winters exponential smoothing method were both used for forecasting. Exogenous variables cannot be included in the model, which is one of its disadvantages [22]- [23].…”
Section: Figure 1 Accidents That Occurred On Polish Roads Between 199...mentioning
confidence: 99%
“…However, the shortcoming of this metho is the inability to assess the quality of the forecast based on outdated forecasts and the frequent autocorrelation of the residuals [5]. Procházka et al [6,7] used a multiple seasonality model for forecasting; in contrast, Sunny et al [8] chose the Holt-Winters exponential smoothing method.…”
Section: Introductionmentioning
confidence: 99%