Time Series Least Square Forecasting Analysis and Evaluation for Natural Gas Consumption

Abstract

Power and mechanical energies are now a down main stream of energy to produce any other type of product in any nation in the world. Currently natural resources are the main stream of resources to produce the power energy or mechanical energy. We aware that the natural resource energy is limited.It’s the prime focus now a day to optimize the natural resource consumption. Natural Gas is an integral part of the natural resource and hence needs a planning and forecasting to optimize the natural gas usage and wastage. Without the proper planning and forecasting, the natural gas consumption will be highly usage and wasted and hence the limited resource will be drained off. In this paper, we analyze the time series least square method and compare its results with the actual data with absolute error percentage. This paper provides a clear analytic results and comparisons which serves as a base forecasting model for natural gas consumption.