Table 5 The best-performing model

Model R-squared RMSE MAE BIC MAPE
ARIMA (0,0,2) 0.695 81.792 56.046 9.013 0.511
ARIMA (0,0,3) 0.731 77.474 51.359 8.972 0.467
ARIMA (1,0,1) 0.763 72.041 47.825 8.759 0.436
ARIMA (1,0,2) 0.773 71.162 44.983 8.803 0.409
ARIMA (2,0,0) 0.762 72.237 45.369 8.769 0.413
Source: Autoregressive Integrated Moving Average (ARIMA).
Note: RMSE, Root Mean Square Error; MAE, Mean Absolute Error; BIC, Bayesian Information Criterion; MAPE, Mean Absolute Percentage Error.