A New Improved Parsimonious Multivariate Markov Chain Model

Table 4

Prediction errors of the new improved parsimonious multivariate Markov chain model with the new convergence condition of the new variability in sales demand prediction.

	𝛽=0.7	𝛽=0.8	𝛽=0.9	𝛽=1	𝛽=1.1	𝛽=1.2
IPM2 when 𝛾=1	348.9387	348.8616	348.6692	348.4583	346.8533	347.9374
IPM2 when 𝛾=2	341.3333	348.4608	348.5667	348.6407	348.6676	348.6457
IPM2 when 𝛾=3	333.1122	334.4701	339.0412	343.5102	348.3476	348.3801
IPM2 when 𝛾=4	334.2837	331.1873	333.7044	334.5513	337.5047	340.6662
IPM2 when 𝛾=5	333.1028*	332.8355	330.7546	332.4308	333.8498	334.6122
IPM2 when 𝛾=6	327.5181*	333.2228*	335.7616	331.0009	331.4727	332.7485
IPM2 when 𝛾=7	481.5991*	327.9535*	333.2418*	335.7036	334.4605	331.1581
IPM2 when 𝛾=8	550.2992*	457.7242*	329.7488*	333.3142*	335.7388	333.6250
IPM2 when 𝛾=9	618.8261*	521.8871*	452.3191*	331.4777*	333.4008*	335.0657
IPM2 when 𝛾=10	527.6297*	579.7398*	501.1963*	442.6577*	331.6313*	333.5236*