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Time series analysis on Indian Mackerel Retail Price in Peninsular Malaysia

Forecasting fish price has been started for a long time worldwide. The main objective of this study is to predict the monthly retail price of Indian Mackerel in Peninsular Malaysia based on the 9 years data (2007-2015) using two methods which are Box-Jenkins method and Holt’s Linear Trend method. An...

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Main Authors: Mat Ali, Nur Farhana, Rusiman, Mohd Saifullah, Abdullah, Abdul Wahab
Format: Article
Language:English
Published: Penerbit UTHM 2021
Subjects:
QA71-90 Instruments and machines
Online Access:http://eprints.uthm.edu.my/1281/1/P12553_daa37751921cbc0147adc59afa056ea0.pdf
http://eprints.uthm.edu.my/1281/
https://doi.org/10.30880/ekst.2021.01.01.002
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spelling my.uthm.eprints.12812021-10-18T02:41:24Z http://eprints.uthm.edu.my/1281/ Time series analysis on Indian Mackerel Retail Price in Peninsular Malaysia Mat Ali, Nur Farhana Rusiman, Mohd Saifullah Abdullah, Abdul Wahab QA71-90 Instruments and machines Forecasting fish price has been started for a long time worldwide. The main objective of this study is to predict the monthly retail price of Indian Mackerel in Peninsular Malaysia based on the 9 years data (2007-2015) using two methods which are Box-Jenkins method and Holt’s Linear Trend method. Analyse data showed that the Holt’s linear trend model and autoregressive integrated moving average or ARIMA (0, 1, 1) (0, 0, 0)12 model were proposed. The diagnostic checking for the estimated models confirmed the adequacy of the models. The result of the study showed that the Holt’s linear trend method was become the better model with the lower root mean square error (RMSE) and mean absolute percentage error (MAPE). Later, this method has been used to forecast 3 months upcoming Indian Mackerel price eventhough both models have been proven successful in forecasting the monthly fish prices. In conclusion, the potential result from this study could be used in helping fish farmers in their annual planning of increasing income especially in Peninsular Malaysia. Penerbit UTHM 2021 Article PeerReviewed text en http://eprints.uthm.edu.my/1281/1/P12553_daa37751921cbc0147adc59afa056ea0.pdf Mat Ali, Nur Farhana and Rusiman, Mohd Saifullah and Abdullah, Abdul Wahab (2021) Time series analysis on Indian Mackerel Retail Price in Peninsular Malaysia. Enhanced Knowledge in Sciences and Technology, 1 (1). pp. 8-14. https://doi.org/10.30880/ekst.2021.01.01.002
institution Universiti Tun Hussein Onn Malaysia
building UTHM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Tun Hussein Onn Malaysia
content_source UTHM Institutional Repository
url_provider http://eprints.uthm.edu.my/
language English
topic QA71-90 Instruments and machines
spellingShingle QA71-90 Instruments and machines
Mat Ali, Nur Farhana
Rusiman, Mohd Saifullah
Abdullah, Abdul Wahab
Time series analysis on Indian Mackerel Retail Price in Peninsular Malaysia
description Forecasting fish price has been started for a long time worldwide. The main objective of this study is to predict the monthly retail price of Indian Mackerel in Peninsular Malaysia based on the 9 years data (2007-2015) using two methods which are Box-Jenkins method and Holt’s Linear Trend method. Analyse data showed that the Holt’s linear trend model and autoregressive integrated moving average or ARIMA (0, 1, 1) (0, 0, 0)12 model were proposed. The diagnostic checking for the estimated models confirmed the adequacy of the models. The result of the study showed that the Holt’s linear trend method was become the better model with the lower root mean square error (RMSE) and mean absolute percentage error (MAPE). Later, this method has been used to forecast 3 months upcoming Indian Mackerel price eventhough both models have been proven successful in forecasting the monthly fish prices. In conclusion, the potential result from this study could be used in helping fish farmers in their annual planning of increasing income especially in Peninsular Malaysia.
format Article
author Mat Ali, Nur Farhana
Rusiman, Mohd Saifullah
Abdullah, Abdul Wahab
author_facet Mat Ali, Nur Farhana
Rusiman, Mohd Saifullah
Abdullah, Abdul Wahab
author_sort Mat Ali, Nur Farhana
title Time series analysis on Indian Mackerel Retail Price in Peninsular Malaysia
title_short Time series analysis on Indian Mackerel Retail Price in Peninsular Malaysia
title_full Time series analysis on Indian Mackerel Retail Price in Peninsular Malaysia
title_fullStr Time series analysis on Indian Mackerel Retail Price in Peninsular Malaysia
title_full_unstemmed Time series analysis on Indian Mackerel Retail Price in Peninsular Malaysia
title_sort time series analysis on indian mackerel retail price in peninsular malaysia
publisher Penerbit UTHM
publishDate 2021
url http://eprints.uthm.edu.my/1281/1/P12553_daa37751921cbc0147adc59afa056ea0.pdf
http://eprints.uthm.edu.my/1281/
https://doi.org/10.30880/ekst.2021.01.01.002
_version_ 1738580842392846336
score 13.211869

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