Ecology, Environment and Conservation Paper

Vol 21, Issue 1, 2015; Page No.(231-236)

PRICE FORECASTING OF YELLOW TEAK (ADINA CARDIFOLIA ROXB.) - BY AN APPLICATION OF EXPONENTIAL SMOOTHING

T. Vasanth Kumar, A.S. Kamble, M. Sudheendra and H.B. Mallikarjuna

Abstract

Timber is now becoming a scarce commodity. The demand for industrial wood is 0.4 million cubic meters and the prediction is 1.6 million cubic meters. Yellow Teak is an important timber species grown in India and is much appreciated by carpenters. Yellow Teak is commonly known as Hedde. Time series data of Yellow Teak in different classes were collected from Dandeli depot, Karnataka State from May 1996 to Dec 2011 with following headings: CIIc, CIb, DIc & DIVb (Shown in Appendix). Where, in classesÂ’ first English capital letter represent the quality, second roman number represents the length and last small English letter shows the girth of a timber. The timber lot is classified based on standard classification such as diameter classes, height classes & quality classes. Forecasting of price of Yellow Teak by an Exponential Smoothing model was applied. The Forecasts were made for four years ahead from December 2011. It indicates that, the error between actual price and forecasted price were very less and it shows best model for short term forecasting.

Enter your contact information below to receive full paper.
Your Name :
Email:
Phone:
City:
Cost of Full Paper: Rs.150 for Indian Nationals or $20 (USD) for international subscribers.
By clicking on Request Paper you Agree to pay the above mentioned cost per paper.