Compound growth rate is a key indicator to measure agricultural growth and
can be used for forecasting production/productivity/area etc. of various
commodities. This plays a vital role in agricultural policy making in terms of
import/ export policies. Therefore, predicted value of growth rate needs to be
very precise so that suitable policies can be adopted accordingly. Accuracy of
predicted value depends largely on proper statistical procedures followed to
estimate it. Unfortunately, there are certain drawbacks in Current methodology
of estimating compound growth rate. There exist some realistic nonlinear growth
models through which it can be estimated more accurately. Furthermore,
nonparametric methodology can also be employed in estimating compound growth
rate specifically in case of increasing and decreasing behaviour of response
variable over the time-period as this scenario is prevalent particularly in the
field of agriculture in terms of production/ productivity etc.
This web application computes compound growth rate using 3-parameters nonlinear
growth models viz. Monomolecular, Logistic and Gompertz models. Compound growth
rate can also be estimated using 4-parameters growth models viz. Richards model,
Mixed-influence model and growth models based on second-order homogenous differential equation.
There is also provision to estimate growth rate using nonparametric methodology.