PELS (Procedia of Engineering and Life Science)
Vol 4 (2023): Proceedings of the 6th Seminar Nasional Sains 2023

Comparison of Multiple Linear Regression and Holt-Winter Exponential Smoothing in the Gold Jewelry Pricing Prediction

Wirawan Khairul Majid (Universitas 17 Agustus 1945 Surabaya)
Intan Dzikria (Universitas 17 Agustus 1945 Surabaya)

Article Info

Publish Date
07 Jul 2023

Abstract

One important factor in someone's decision to purchase gold jewelry is the price factor. However, the price of gold jewelry varies from store to store. Therefore, a gold jewelry price forecasting system is needed to assist customers in determining the right time to buy gold jewelry. This study aims to develop a gold jewelry prediction system by comparing two methods: multiple linear regression and Holt-Winter exponential smoothing. These two methods were chosen because the researcher wants to compare which method is more accurate in predicting the price of gold jewelry. The second reason is that both multiple linear regression and Holt-Winter exponential smoothing methods share similarities in using three variables. The three variables in multiple linear regression include period (X1), profit (X2), and price (Y), while the variables in the Holt-Winter exponential smoothing method include level, trend, and season.

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Journal Info
PELS (Procedia of Engineering and Life Science)
Website

Abbrev

PELS

Publisher

Universitas Muhammadiyah Sidoarjo

Subject

Computer Science & IT Control & Systems Engineering Electrical & Electronics Engineering Engineering

Description

PELS (Procedia of Engineering and Life Science) is an international journal published by Faculty of Science and Technology Universitas Muhammadiyah Sidoarjo. The research article submitted to this online journal will be double blind peer-reviewed (Both reviewer and author remain anonymous to each ...