TRAFFIC FORECASTING USING ECONOMETRIC METHOD

Abstract

An estimation of future traffic on highways is required for a variety of purposes. The width of the pavement and the number of lanes to be added is decided on the basis of the traffic volume it can efficiently accommodate. The pavement needs to be widened when the traffic flow exceeds its capacity. Transportation demand analysis is not a recent development, though the more rational methods have been developed recently. There are several different techniques for forecasting from which to choose, depends on the requirements of the analysis. Now it is non evitable to find out that how much growth and road/highway development corelated to each other, how much these two are coupled and also how much future development of highways would impact the GDP growth or vice versa growth of GDP would need roads sector. The way or method to find out the co relation through regression is one of the most viable method or accepted throughout the globe if appropriate data is available and the Indian Road Congress accepted and suggested the same for this type of analysis in code IRC: 108-2016 as a econometric method to find out the traffic demand or we can say demand for roads based up on the economical parameters