Competitive Advantages
- Identifies the most important factors to maximize the returns of production
- Factors ranked by their contributions to the returns
- Estimates reliable production returns
- Strategy for a successful maximization of the product returns
- Strategy to stimulate investor confidence
Summary
Our researchers have developed a data-driven multivariate nonlinear statistical model that identified seven significant individual contributable factors and six significant contributable interaction terms that accurately predict the returns from corn production in the U.S. from 1975-2018.The identified factors include the opportunity cost of land, fuel, lube and electricity, custom services, the market value of the grain, fertilizer, operating capital, hired labor, as well as other interaction factors. Our statistical model is of high quality and accurately predicts the returns, satisfying all assumptions, residual analysis, and goodness-of-fit tests. The proposed model performs much better compared to other least square models.
Assessed Accuracy of Prediction by the Proposed Model with Results that Exemplify a Nearly Exact Prediction of Previous return
Desired Partnerships
- License
- Sponsored Research
- Co-Development