ABSTRACT
The demand for usage of the 95 express lanes can be determined based on forecasted information. The 95 Express presents a good test-bed for the application of a forecasting algorithm such as GARCH and will benefit significantly from its improvement in accuracy in light of the proposed extension of the tolled dynamic pricing lanes into Broward County, Florida. It has been successful in improving forecast accuracy in supply chain systems, by reducing bullwhip effect and modeling demand with high level of accuracy as demand moved through the different stages of a multi-echelon supply chain system. In prior implementation of the GARCH algorithm, the data was read directly from Radio Frequency ID (RFID) tags in a point-of-sale environment and fed into the manufacturing warehouse setting to a dedicated computer system which was able to adjust the forecast dynamically in near real time.
