mean

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several GARCH(1,1) models were estimate, by considering different error measures, and combined by the use of simple arithmetical average and ANNs to produce a new model that integrate all information from individual models.
To facilitate a comparison across firms, we computed spread ratio, defined as the arithmetical average of a firm's daily relative bid-ask spread in the post-filing period divided by the arithmetical average of a firm's daily relative bid-ask spread in the pre-filing period.
In the case of these three indicators, the three main impact indicators are respectively calculated for the given region by the formula below and the complex tourism impact indicator then generated by the arithmetical average.