CA_Dairy_Prediction_using_R

January 15, 2017

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This is an experiment that demonstrates time-series prediction of Dairy production in CA.
This experiment is based on the quickstart guide exercise for creating experiments with R. We use the California dairy production and pricing data. This data includes monthly information on the production of several dairy products and the price of milk fat, a benchmark commodity. This dataset is an example of time-series data. We incorporate trend- and seasonal modeling to make a forecasting model. Using this model we will forecast California milk production for the 12 months of 2013. Our forecasting model will have two components, a trend component and a seasonal component. The complete forecast is the product of these two components. This type of model is known as a multiplicative model. The alternative is an additive model.