The analysis was based on the data of pig carcasses from 30 local hog farms in 1987. Twelve items of the carcass were evaluated, such as unit price, average weight, standard deviation of average weight per farm, market price of the excellent (Jo) on the marketed day, average loss of market price from that of the excellent, etc.
These items can be classified into three categories: 1) Marketing techniques to meet the market conditions, 2) Quality control techniques to attain better prices, and 3) Carcass weight control techniques.
These groups are independent of each other.
In order to define the factors affecting the unit price, multiple regression equation (by forward method) of which the response variable (
Y) was the carcass unit price and the rest of items were explanatory variables.
These computations resulted in the identification of three most effective factors. The following conclusions were obtained.
1. The multiple regression equation was as follows:
Y=-60.563+1.067
X1+0.323
X2-1.211
X3(0.046) (0.033) (0.340)
R
2=0.970 R
22=0.967
Se=0.963 d. f=26
where,
X1 was the unit price of “Jo” on the marketed day, while
X2 was the proportion of “Jo” carcass to the total marketed amount, and
X3 was the standard deviation of the mean weight per farm.
2. The adjusted coefficient of multiple determination (R
2) was 0.967, indicating that 96.7% of the total variations in the unit price could be explained by the three variables included in the equation, and the standard error was 0.963.
3. Standardized regression coefficients were 0.833, 0.439 and -0.158, respectively, for the variables of
X1,
X2 and
X3.
As the result of these coefficients, the market price of “Jo” carcass on the marketed day proved to be the most important factor for the improvement of the mean carcass unit price.
View full abstract