Year Soybean Production (million bushels) Exports Export Share 1980 1,798 724 40
ID: 375363 • Letter: Y
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Year Soybean Production (million bushels) Exports Export Share 1980 1,798 724 40.28% 1981 1,989 929 46.70% 1982 2,190 905 41.32% 1983 1,636 743 45.42% 1984 1,861 598 32.14% 1985 2,099 741 35.30% 1986 1,943 757 38.97% 1987 1,938 804 41.49% 1988 1,549 527 34.03% 1989 1,924 622 32.33% 1990 1,926 557 28.92% 1991 1,987 684 34.43% 1992 2,190 771 35.20% 1993 1,870 588 31.45% 1994 2,515 840 33.40% 1995 2,174 849 39.05% 1996 2,380 886 37.22% 1997 2,689 874 32.51% 1998 2,741 805 29.37% 1999 2,654 973 36.66% 2000 2,758 996 36.11% 2001 2,891 1,064 36.80% 2002 2,756 1,044 37.89% 2003 2,454 887 36.13% 2004 3,124 1,097 35.12% 2005 3,068 940 30.63% 2006 3,197 1,116 34.93% 2007 2,677 1,159 43.29% 2008 2,967 1,279 43.12% 2009 3,361 1,499 44.60% 2010 3,331 1,505 45.18% 2011 3,097 1,365 44.08% 2012 3,042 1,328 43.64% 2013 3,358 1,638 48.77% 2014 3,927 1,843 46.94% 2015 3,929 1,690 43.01% Memo To: From: Date: Data Analytics Consulting SD Department of Agriculture 11/7/2017 Message We are very interested in forecasting Soybean production and exports. Please use the attached data to provide an analysis of soybeans Prepare a report and an informative poster summarizing your analysis. You report should answer the following 1. 2. What patterns do you detect in soybean production and export share? What is the appropriate forecasting method to use to analyze these data? a. What forecasting methods did you consider? How did you evaluate alternative forecasting methods to determine the appropriate one? Which forecasting method did you chose and why is that method appropriate for this task? b. c. 3. 4. What are the trends in soybean production and export share? Provide a forecast of soybean production and export share for the next 5 years.Explanation / Answer
Patterns noticed in Soyabean production and export
Soyabean production was 1,798 in 1980 which is more then double in 2015 i.e. 3,929 but Export Share increased by 2.73% only as it was 40.28% in 1980 and 43.01% in 2015. It shows that the Eport share was not increased the way it should increase.
The maximum it increased was 43.29% in 2007 from previous year wen it was 34.93%. So it was almost 9%
Since 2007, it is increasing or stable bu untill then it keep on increasing and decreasing very next year.
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