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Forecasting the Prime Cost of Milk Production in an Uncertain Environment

  • T. YurenevaEmail author
  • O. Barinova
  • S. Golubeva
Conference paper
Part of the Smart Innovation, Systems and Technologies book series (SIST, volume 138)

Abstract

In the context of unstable economy, the importance of the quality of information required in the process of business management increases. The possibility of obtaining information that objectively reflects the economic situation of an enterprise is provided by the use of economic and statistical methods. In the article the possibility of the prime cost forecasting of milk production was studied based on the calculation of the complex influence of production factors on this indicator. As a result, a list of factors was determined that had the greatest impact on the effective feature – the prime cost, and statistically significant regression models for its prediction were built. The econometric regression model of the prime cost forecasting of milk taking into account the factor of cyclicity was developed, which allowed obtaining refined estimates of the prospective values of the indicator. The algorithm of construction of additive and multiplicative models of the forecasting of the prime cost taking into account the cyclic component that allowed increasing accuracy of the calculated forecasts was offered.

Keywords

Prime cost Forecasting Model Regression Correlation Factors Cyclicity 

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Copyright information

© Springer Nature Switzerland AG 2020

Authors and Affiliations

  1. 1.Vologda SDFAVologdaRussia

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