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Mathematical Modeling of the Price Volatility of Maize and Sorghum between 1960 and 2022

Journal of Mathematics Letters | Vol 1, Issue 1

Table 7. Serial Correlation Test Results of the two Best Fitted Volatility Models

	IGARCH (1,1) – MAIZE				IGARCH (1,1) – SORGHUM
Lag	AC	PAC	Q-Stat	Prob*	AC	PAC	Q-Stat	Prob*
1	0.066	0.066	3.2149	0.073	0.066	0.066	3.2149	0.073
2	0.003	-0.001	3.2227	0.200	0.003	-0.001	3.2227	0.200
3	0.071	0.071	6.9045	0.075	0.071	0.071	6.9045	0.075
4	0.007	-0.003	6.9388	0.139	0.007	-0.003	6.9388	0.139
5	0.007	0.007	6.9771	0.222	0.007	0.007	6.9771	0.222
6	0.044	0.038	8.3839	0.211	0.044	0.038	8.3839	0.211
7	0.012	0.007	8.4925	0.291	0.012	0.007	8.4925	0.291
8	0.018	0.016	8.7347	0.365	0.018	0.016	8.7347	0.365
9	0.024	0.016	9.1621	0.422	0.024	0.016	9.1621	0.422
10	0.032	0.028	9.8973	0.450	0.032	0.028	9.8973	0.450