A New Approach for Forecasting Crude Oil Prices Using Median Ensemble Empirical Mode Decomposition and Group Method of Data Handling

Table 7

Forecasting accuracy of all models for first synthetic data.

Number of observations	Models	EEMD			MEEMD
		GMDH	ANN	ARIMA	GMDH	ANN	ARIMA
500	RMSE	0.7543	1.0234	2.4567	0.3199	0.7089	1.4563
	MAE	0.7432	1.0032	2.4321	0.2582	0.8694	1.0234
	MAPE	0.9183	1.2313	2.0235	0.7253	1.0342	0.8456
1000	RMSE	1.2345	2.0934	3.5672	0.6462	0.7843	1.5321
	MAE	1.0326	2.0742	2.9531	0.3719	0.7653	1.3267
	MAPE	1.9482	2.6148	3.0219	0.6037	0.8723	1.7364
2000	RMSE	1.0234	2.3456	2.5342	0.3621	0.4932	1.3942
	MAE	0.9934	1.4532	2.4329	0.2899	0.3444	1.2345
	MAPE	0.8894	2.8743	1.6893	0.3523	0.6953	0.9654
5000	RMSE	0.8743	1.0043	2.0001	0.3945	0.5673	1.8721
	MAE	0.8362	0.8732	1.8863	0.3173	0.5542	1.8290
	MAPE	0.9795	1.3452	2.8743	0.8358	0.9731	1.2236
10000	RMSE	0.8456	1.4567	2.5693	0.2867	1.9567	3.1043
	MAE	0.8123	1.4221	2.7123	0.2224	1.9256	2.9876
	MAPE	0.7632	1.1345	1.4576	0.5211	2.1345	2.1376