A Methodical Approach to Design and Valuation of Weather Derivatives in Agriculture

Table 4

Result of Anderson-Darling test of index 𝑇3 for wheat and barley.

Distribution	Wheat		Distribution	Barley
	A-D	𝑃 value		A-D	𝑃 value
Logistic	0.3899	0.317	Logistic	0.2230	0.776
Student's 𝑡	0.4792	×	Lognormal	0.2731	0.538
Beta	0.5144	×	Beta	0.2821	×
Normal	0.5146	0.193	Gamma	0.2867	0.55
Lognormal	0.5274	0.089	Normal	0.2889	0.623
Gamma	0.5383	0.099	Weibull	0.3096	0.524
Weibull	0.5941	0.223	Max Extreme	0.5899	0.128
Max Extreme	0.9252	0.018	Student's 𝑡	1.0695	×
Min Extreme	1.6905	0	Triangular	1.2479	×
Triangular	2.4206	×	Min Extreme	1.3435	0
Pareto	5.4825	×	Uniform	4.1707	0
Uniform	5.5950	0	Pareto	4.7336	×
BetaPERT	12.5932	×	BetaPERT	6.8939	×
Exponential	19.5335	0	Exponential	19.4727	0

Source: authors.