A METHOD FOR DETERMINING RANCH PROFIT PROBABILITIES WHEN LIVESTOCK YIELDS ARE NORMALLY DISTRIBUTED

Martin J. Blake and James R. Gray

Western Journal of Agricultural Economics, 1981, vol. 06, issue 01, 10

Abstract: Data on net turnoff for small, medium-sized and large cow-calf and small and large size yearling ranches were tested for normality using the Shapiro - Wilk test. The yield data examined were accepted as normally distributed at the alpha = .10 level. The probability of profit for each type of ranch was assessed using normal curve techniques for nine different cost-price alternatives and weather conditions. Yearling cattle ranchers had higher profit probabilities than cow-calf ranchers. Prices received had more influence on profit probabilities than weather conditions.

Keywords: Livestock; Production/Industries (search for similar items in EconPapers)
Date: 1981
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:wjagec:32083

DOI: 10.22004/ag.econ.32083

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