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ARIMA Model for Forecasting of Greengram Prices in Telangana by using SAS
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Autoregressive integrated moving average (ARIMA) approach has been applied for modeling and forecasting of greengram prices in Telangana. Autocorrelation (AC) and partial autocorrelation (PAC) functions were estimated, which led to the identification and construction of ARIMA models, suitable in explaining the time series and forecasting the future production. To this end, evaluation of forecasting is carried out with Akaike’s information criterion (AIC) and Schwarz’s Bayesian information criterion ( BIC). The best identified model for the data under consideration was used for out-of-sample forecasting upto November 2019.
Keywords
ARIMA Model, Forecasting, Greengram, SAS.
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