dc.description.abstract |
The overall objective of the present paper is demonstrating the utility of price
forecasting of farm prices and validating the sa
me for major crops namely, Paddy, Ragi
and Maize in Karnataka state for the year 2016 using the time series data from 2002 to
2016. The results were obtained from the application of univariate ARIMA techniques to
produce price forecasts for cereal and prec
ision of the forecasts were evaluated using the
standard criteria of
MSE
,
MAPE
and Theils
U
coefficient criteria. The results of ARIMA
price forecasts amply demonstrated the power of the ARIMA model as a tool for price
forecasting as revealed by pragmatic
models of forecasted prices for 2020. The values of
MSE
,
MAPE
and Theils
U
were relatively lower, indicating validity of the forecasted
prices of the three crops.
Keywords
: ARIMA, Forecasting,
MAPE
,
MSE
, Theils
U
coefficient. |
en_US |