Estimation of industrial production costs, using regression analysis, neural networks or hybrid neural-regression method

Abstract

Estimation (Forecasting) of industrial production costs is the most important factors affecting decisions in the highly competitive markets. Thus, improved accuracy of estimation is highly desirable. Comparing regression analysis and neural networks with hybrid neuralregression method, has clearly indicated the superiority of the latter method.

Keywords:

• Regression analysis
• neural networks
• Hybrids neural-regression method