Modeling and forecasting of COVID-19 using a hybrid dynamic model based on SEIRD with ARIMA corrections

The outbreak of novel coronavirus (COVID-19) attracted worldwide attention. It has posed a significant challenge for the global economies, especially the healthcare sector. Even with a robust healthcare system, countries were not prepared for the ramifications of COVID-19. Several statistical, dynamic, and mathematical models of the COVID-19 outbreak including the SEIR model have been developed to analyze the infection its transmission dynamics. The objective of this research is to use public data to study the properties associated with the COVID-19 pandemic to develop a dynamic hybrid model based on SEIRD and ascertainment rate with automatically selected parameters. The proposed model consists of two parts: the modified SEIRD dynamic model and ARIMA models. We fit SEIRD model parameters against historical values of infected, recovered and deceased population divided by ascertainment rate, which, in turn, is also a parameter of the model. Residuals of the first model for infected, recovered, and deceased populations are then corrected using ARIMA models. The model can analyze the input data in real-time and provide long- and short-term forecasts with confidence intervals. The model was tested and validated on the US COVID statistics dataset from the COVID Tracking Project. For validation, we use unseen recent statistical data. We use five common measures to estimate model prediction ability: MAE, MSE, MLSE, Normalized MAE, and Normalized MSE. We proved a great model ability to make accurate predictions of infected, recovered, and deceased patients. The output of the model can be used by the government, private sectors, and policymakers to reduce health and economic risks significantly improved consumer credit scoring.