TY - JOUR
T1 - Comparison of bootstrap estimation intervals to forecast arithmetic mean and median air passenger demand
AU - Carmona-Benítez, Rafael Bernardo
AU - Nieto, María Rosa
N1 - Publisher Copyright:
© 2016 Informa UK Limited, trading as Taylor & Francis Group.
PY - 2017/5/19
Y1 - 2017/5/19
N2 - The aim of this paper is to compare passenger (pax) demand between airports based on the arithmetic mean (MPD) and the median pax demand (MePD). A three phases approach is applied. First phase, we use bootstrap procedures to estimate the distribution of the arithmetic MPD and the MePD for each block of routes distance; second phase, we use percentile, standard, bias corrected, and bias corrected accelerated methods to calculate bootstrap confidence bands for the MPD and the MePD; and third phase, we implement Monte Carlo (MC) experiments to analyse the finite sample performance of the applied bootstrap. Our results conclude that it is more meaningful to use the estimation of MePD rather than the estimation of MPD in the air transport industry. By carrying out MC experiments, we demonstrate that the bootstrap methods produce coverages close to the nominal for the MPD and the MePD.
AB - The aim of this paper is to compare passenger (pax) demand between airports based on the arithmetic mean (MPD) and the median pax demand (MePD). A three phases approach is applied. First phase, we use bootstrap procedures to estimate the distribution of the arithmetic MPD and the MePD for each block of routes distance; second phase, we use percentile, standard, bias corrected, and bias corrected accelerated methods to calculate bootstrap confidence bands for the MPD and the MePD; and third phase, we implement Monte Carlo (MC) experiments to analyse the finite sample performance of the applied bootstrap. Our results conclude that it is more meaningful to use the estimation of MePD rather than the estimation of MPD in the air transport industry. By carrying out MC experiments, we demonstrate that the bootstrap methods produce coverages close to the nominal for the MPD and the MePD.
KW - Air passenger demand
KW - arithmetic mean
KW - bias corrected
KW - bias corrected accelerated method
KW - bootstrap
KW - forecast
KW - median
KW - percentile method
UR - http://www.scopus.com/inward/record.url?scp=84979073738&partnerID=8YFLogxK
U2 - 10.1080/02664763.2016.1201794
DO - 10.1080/02664763.2016.1201794
M3 - Artículo
AN - SCOPUS:84979073738
SN - 0266-4763
VL - 44
SP - 1211
EP - 1224
JO - Journal of Applied Statistics
JF - Journal of Applied Statistics
IS - 7
ER -