Multiple Regression Analysis to Estimate the Unit Price of Hanwoo (Bos taurus coreanae) Beef

Abstract

This study were estimated the contribution of carcass traits to unit price, to analyze the marbling score as a categorical variable rather than a numerical variable, and to develop an optimal model that also includes the holiday effect and the raising period. The data for this study were acquired from the Quality Evaluation of the Korea Institute for Animal Products, and consisted of the trading records of 1,613,699 heads at 12 wholesale markets from 2010 to 2014. The unit price of a cow was estimated from the following parameters: −52.50 Won/mm, 8.93 Won/cm2, 7.20 Won/kg, and −1.04 Won/day for backfat thickness, eye muscle area, carcass weight, and raising period, respectively. Parameters for the dummy variables of marbling scores varied from 0 to 8328.74 Won/kg, which means that each marbling score grade had a different price value. The unit price of a steer was estimated from the following parameters: −92.12 Won/mm, 20.22 Won/cm2, 1.30 Won/kg, and −1.72 Won/day for backfat thickness, eye muscle area, carcass weights, and raising period, respectively. Parameters for dummy variables of marbling scores varied from 0 to 7338.80 Won/kg, which means that the grades of each marbling score had different price values. The unit price of sales during traditional holidays was significantly higher (827.71 Won/kg for cows, and 645.15 Won/kg for steers) than during non-holidays.We conclude that the use of categorical values for marbling scores would be needed to evaluate the price of Hanwoo beef using multiple regression analysis based on carcass traits and environmental factors.

The Impact of Bullish Trends in User Online Communities on the Stock Market

“…All of this stems from the deviation of their attributions, the inability to treat the occurrence of an event rationally and objectively, and they often choose to doubt or abandon their unfavorable news and ignore them. In general, attribution bias not only leads to short-term inertial behavior and long-term reversal, but also encourages overconfidence [22].…”

“…Published by Francis Academic Press, UK -7-At present, there is a relatively common view that they believe that positive return auto correlation is mostly caused by insufficient response to new information, and negative return auto correlation can only occur when overreacting to new information [23]. But the DHS model points to a different point of view.…”

Comparison of transcriptome between high- and low-marbling fineness in longissimus thoracis muscle of Korean cattle

“…In beef, intramuscular fat (IMF) or marbling is associated with flavor, juiciness, and tenderness and is a critical factor determining the grade of beef in some countries, including Korea and Japan [ 1 , 2 ]. The IMF content is positively correlated with the beef price [ 3 ], and highly marbled beef is a premium consumer product, especially in Korea and Japan [ 4 ].…”