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Stochastic Analysis and Neural Network-Based Yield Prediction with Precision Agriculture

Author

Listed:
  • Humayra Shoshi

    (Department of Mathematics, North Dakota State University, Fargo, ND 58108-6050, USA)

  • Erik Hanson

    (Department of Agribusiness and Applied Economics, North Dakota State University, Fargo, ND 58108-6050, USA)

  • William Nganje

    (Department of Agribusiness and Applied Economics, North Dakota State University, Fargo, ND 58108-6050, USA)

  • Indranil SenGupta

    (Department of Mathematics, North Dakota State University, Fargo, ND 58108-6050, USA)

Abstract

In this paper, we propose a general mathematical model for analyzing yield data. The data analyzed in this paper come from a characteristic corn field in the upper midwestern United States. We derive expressions for statistical moments from the underlying stochastic model. Consequently, we illustrate how a particular feature variable contributes to the statistical moments (and in effect, the characteristic function) of the target variable (i.e., yield). We also analyze the data with neural network techniques and provide two methods of data analysis. This mathematical model and neural network-based data analysis allow for better understanding of the variability within the data set, which is useful to farm managers attempting to make current and future decisions using the yield data. Lenders and risk management consultants may benefit from the insights of this mathematical model and neural network-based data analysis regarding yield expectations.

Suggested Citation

  • Humayra Shoshi & Erik Hanson & William Nganje & Indranil SenGupta, 2021. "Stochastic Analysis and Neural Network-Based Yield Prediction with Precision Agriculture," JRFM, MDPI, vol. 14(9), pages 1-17, August.
    • Handle: RePEc:gam:jjrfmx:v:14:y:2021:i:9:p:397-:d:621181
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    Citations

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    Cited by:

    1. Minglian Lin & Indranil SenGupta & William Wilson, 2023. "Estimation of VaR with jump process: application in corn and soybean markets," Papers 2311.00832, arXiv.org, revised Jun 2024.
    2. Humayra Shoshi & Indranil SenGupta, 2023. "Some asymptotics for short maturity Asian options," Papers 2302.05421, arXiv.org, revised Sep 2024.

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