Dear researchers
I have the wholesales price index of manufactured goods from 1970 to 2011. but after 2011 the Pakistan Bureau of Statistic splits the manufactured goods index in so many sub-groups. How can i obtain the last three value of wholesales price index of manufactured goods. Can i obtain the it by using the average growth of wholesale price index of manufactured goods? Or Is there other option please guide me i am very thankful
Regards
Irshad
Hi there,
There would seem to be at-least two issues at-play: regressing beyond the available data, and missing data imputation. There are statistical techniques for "forecasting" into the future, but these widen your confidence intervals, here's the Wikipedia summary on these ideas: https://en.wikipedia.org/wiki/Forecasting
If you're not trying to estimate future values based on past values, but instead estimate values within a period for which you have data, then you'll need traditional missing data estimation techniques, the most powerful of which is multiple imputation: https://en.wikipedia.org/wiki/Imputation_%28statistics%29
I hope that helps. Happy stats-ing!
James
It is surprising that the Statistical Bureau has stopped the publication of the "sum index" after splitting. If you have some years before 2011 with sum and split data, you can try, if the average of the percentage changes of the split data is comparable to the percentage changes of the sum. If this is true or this comparison is not possible, I think you can take the averages, but not of the indices themselves, but of the percentage changes and inflate the sum index by these percentages. If the above presented comparison shows poor resuts, it might be worthwile to have a look at outliers of the split data. I think it does not pay to construct your own index via sales statistics (if available).
Have look on this.
http://www.inside-r.org/packages/cran/zoo/docs/na.approx
- Badges
- Science topic
- Similar topics
- Phytochemistry
- Extracts