The steps and tests which were run in order to get a clear picture of the demand and how the regional development has increased for the Hong Kong Airport in particular are in discussion here. The demand forecast for the year 2015 has also been included in this report using the appropriate moving average method. In a nut shell, a moving average (MA) is defined as a pattern indicator or slacking pointer in light of the fact that it is in view of past values. The two essential and regularly utilized MAs are the straightforward moving average (SMA), which is the basic average of a security over a characterized number of time periods, and the weighted moving average (WMA), which gives greater weight to later values. The most well-known…show more content… The monthly data for January 2015 and February 2015 was not included in the sample as it was not sufficient to forecast the demand.
2. The model has forecasted a demand for 2015.
3. In order to get a fair comparison we ignore the months used in MA3 and MA4 modelling along with the respective error terms.
4. It was assumed that the model which performed well in the past will be the one performing well in the future.
5. To be more specific with our results, Weighted Moving Average model was further applied by assigning equal weights to all the years at first and running the solver analysis.
Results & Discussion:
Air transport has turned out to be more imperative to Hong Kong exchange throughout the years. 36% and 41% of Hong Kong 's aggregate fares and imports were done through air transport in the initial ten months of 2014, contrasted and 26% and 19% in 1980 individually. Hong Kong 's effectiveness in traditions leeway and its status as a free port are among the fundamental donors to this increment. Basic traditions leeway and 24-hour operation of HKIA makes it advantageous for merchandise bound for the Chinese territory to experience Hong Kong for the terrain. In 2013, Hong Kong 's aggregate fares via air came to HK$ 1,254 billion, up 8.7% from 2012. For imports via air around the same time, they came to HK$ 1,599 billion, up 6.0% from 2012. (Jacqueline Yuen, 2015)
The trends regarding the market over all are discussed below: