From the point of view of statistics or econometrics, NN models are a particular class of nonlinear input–output models. NNs have been established to be superior to the conventional models of linear kind (including regression, univariate time series models, and multivariate time series transfer function models) and some other non-linear kind. Application of NN does not require the data to meet the assumptions that must otherwise be met in a regression model. ANN adapts to learn the relationship or mapping between input and outputs during the training process. During supervised training, which is used in this study, pairs of input and target data are used. An input is propagated through the ANN, the model output is
compared with the target output, and the weights between nodes are updated to minimize the error
between simulated and target output.