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

Table 8

Forecasting accuracy of all models for second synthetic data.

Number of observations	Models	EEMD			MEEMD
		GMDH	ANN	ARIMA	GMDH	ANN	ARIMA
500	RMSE	0.7943	1.6321	2.6523	0.1592	0.6321	1.7643
	MAE	0.6793	1.6432	2.3987	0.1151	0.6124	1.7432
	MAPE	1.0032	2.1953	2.4404	0.7757	0.8943	2.0032
1000	RMSE	1.9123	2.8621	2.8732	0.5319	1.9456	2.3452
	MAE	1.8943	2.5001	2.7632	0.4983	1.4387	1.0643
	MAPE	2.0232	2.7348	2.1198	0.6183	2.4532	1.8476
2000	RMSE	0.4323	1.7634	3.2123	0.1493	0.3456	2.2345
	MAE	0.2341	1.4532	2.2134	0.1245	0.3324	2.4321
	MAPE	0.4567	1.5567	2.6785	0.2346	0.6783	3.4321
5000	RMSE	1.5432	2.9783	4.1283	0.1734	2.3457	2.2198
	MAE	1.0003	2.4431	3.9991	0.1368	1.2963	1.8645
	MAPE	1.7634	3.1863	4.9921	0.9703	2.7234	2.0036
10000	RMSE	0.7431	2.5673	2.9528	0.1419	1.3176	3.2134
	MAE	0.7219	1.9090	2.1947	0.1126	1.0954	2.5674
	MAPE	0.8732	1.3421	2.4788	0.6234	0.8743	3.4532