Predicting the wind speed of the Central Black Sea region with regression model for panel data

Panel data analysis is a common method used in the prediction of particularly economic relations. Models used in panel data analysis can be classified as fixed effects model and random effects model. These models can be analysed according to unit, time or unit and time so that predictions can be made considering differences among units, and differences in time phases, time and unit.This study attempts to predict wind speed between the years 2009 and 2010 using panel data models. In order to achieve this, the variable whose wind speed is described, maximum temperature in average, minimum humidity in average and average humidity descriptors in have been taken as variables. The aim of the study is to determine the most appropriate model by comparing fixed effects model and random effects model for the data set. In conclusion, fixed effects model have been found out to be more appropriate.