Statistical analysis of Ecuadorian exports to the United States of America using the multivariate clustering methodology called K-means
Abstract
This analysis is quantitative research of the products that Ecuador exports to the United States of America, grouping them into clusters using the k-means multivariate analysis methodology, which classifies the products according to a statistic called a centroid that represents an average of the data. in each group. Based on the centroid, patterns were identified that allowed the classification of Ecuadorian non-oil export products. In the k-means methodology, the number of groups is initially established, in this paper the number of groups to be considered was established with the Elbow Method. In this analysis it was decided to divide the data into three well-defined groups according to their export amounts in FOB value. Additionally, the main products that Ecuador exported to the United States of America in 2022 were those corresponding to subheading 030617 Frozen shrimp and 080390 fresh bananas, between both groups of products they represented 41.57 % participation in the year 2022. These two products are in the third cluster, representing those that showed figures with the highest export amounts, its centroid is approximately 997 million US dollars.
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