Jurnal Bayesian : Jurnal Ilmiah Statistika dan Ekonometrika
Vol. 3 No. 2 (2023): Jurnal Bayesian : Jurnal Ilmiah Statistika dan Ekonometrika

PREMIUM RICE PRICE MODELING USING ARIMA MODEL

Pardomuan Robinson Sihombing (BPS-Statistic Indonesia)
Ade Marsinta Arsani (BPS-Statistic Indonesia)
Mohamad Arif Kurniawan (BPS-Statistic Indonesia)
Triana Mauliasih Aritonang (BPS-Statistic Indonesia)
Sigit Budiantono (PKN-STAN)
Nurhidayati Nurhidayati (PKN-STAN)



Article Info

Publish Date
01 Sep 2023

Abstract

Rice is a food commodity that has a vital role in meeting the basic food needs of most Indonesian people. Therefore the price of rice significantly impacts the availability, accessibility, and stability of the people's social, economic, and welfare. This study aims to model large prices and conduct nighttime with the ARIMA method. The ARIMA model used based on ACF and PACF criteria is ARIMA (1,1,0). ARIMA modeling (1,1,0) satisfies all assumptions of normality, non-heteroskedastic, non-autocorrelation, and model stability. The model's performance is also good in forecasting with MAPE below 10 percent. Based on forecasting results, premium rice prices continue to increase. Implementing this result requires the government to anticipate rice price increases with comprehensive policies and remain calm so that large prices remain stable

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Journal Info

Abbrev

home

Publisher

Subject

Economics, Econometrics & Finance Mathematics

Description

Jurnal Bayesian : Jurnal Ilmiah Statistika dan Ekonometrika adalah Jurnal Ilmiah yang terbit secara daring pada bulan MARET dan SEPTEMBER. untuk menyebarluaskan hasil-hasil penelitian dalam bidang Statistika, Ekonometrika dan sub ilmu statistika ...