International Journal of Science and Research (IJSR)

International Journal of Science and Research (IJSR)
Call for Papers | Fully Refereed | Open Access | Double Blind Peer Reviewed

ISSN: 2319-7064


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Research Paper | Management | India | Volume 7 Issue 7, July 2018 | Popularity: 6.4 / 10


     

Time Series Forecasting of Producer Price Index, using ARIMA

Nikhil Garg, Aakash Varshney, Adarsh Agrawal


Abstract: Producer Price Index (PPI) is a key indicator of economic stability of a country. This project aims to forecast the quarterly future PPI of USA using ARIMA Model for the years 2003 2007, using a data set with quarterly PPI data for the years 1960 2002. Based on our analysis, it was interpreted that the ARIMA (1, 1, 1) was best suited for modeling the future PPI, with maximum log-likelihood of and the minimum AIC of 393. The Ljung Box test reveals that the residuals are free from heteroscedasticity and serial correlation.


Keywords: Time Series forecasting, ARIMA, econometrics, PPI, MA Process, ACF plot


Edition: Volume 7 Issue 7, July 2018


Pages: 1019 - 1024



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Nikhil Garg, Aakash Varshney, Adarsh Agrawal, "Time Series Forecasting of Producer Price Index, using ARIMA", International Journal of Science and Research (IJSR), Volume 7 Issue 7, July 2018, pp. 1019-1024, https://www.ijsr.net/getabstract.php?paperid=ART2019201, DOI: https://www.doi.org/10.21275/ART2019201



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