Biomedical Statistics and Informatics

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A Model Selection on Economic Variable in Nigeria

Received: 11 September 2016    Accepted: 21 October 2016    Published: 12 December 2016
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Abstract

This study is on model selection on economic variable on gross domestic product in Nigeria, the data used for this study were extracted from National Bureau of Statistics (NBS), the statistical tool is multiple regression model and model selection to select the best model and in the variable and to evaluate and test GDP as a determinant which will capture the effect on economic variables. At the end of the analysis and findings it were concluded that Import value import value from the export, production, petroleum and consumption plays the most significant role in the company’s market. It can be used as a tool to estimate the company’s future market price.

DOI 10.11648/j.bsi.20160101.12
Published in Biomedical Statistics and Informatics (Volume 1, Issue 1, December 2016)
Page(s) 13-18
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Gross Domestics Product, Multiple Regression, Model Selection, Variance Inflation Factor (VIF), Tolerance

References
[1] Abiola, J., & Asiweh, M. (2012). Impact of tax administration on government revenue in a developing economy- a case study of Nigeria. International Journal of Business and Social Science. 3(8), 99-113.
[2] Afuberoh, D., & Okoye, E. (2014). The impact of taxation on revenue generation in Nigeria. A study of Federal Capital Territory and selected states. International Journal of Public Administration and Management Research. 2(2), 22-47.
[3] Ayuba, A.J. (2014). Impact of non-oil revenue on economic growth: the Nigerian perspective. International Journal of Finance and Accounting. 3(5), 303-309. Berman, H. (n.d.). Residual Analysis in Regression. Stat Trek. Retrieved from http://stattrek.com/regression/residual-analysis.aspx
[4] Douglas Montgomery, Peck, E., & Vinning, G. (2012). Introduction to Linear Regression Analysis (5th ed.). Wiley. Experiment Design and Analysis Reference. (n.d.). ReliaSoft. Retrieved from http://reliawiki.org/index.php/Experiment_Design_and_Analysis_Reference
[5] Iyanaga, S., & Kawada, Y. (1980). Statistical Estimation and Statistical Hypothesis Testing. (Vol. Appendix A, Table 23). Cambridge, MA: MIT Press.
[6] Otu, O. H., & Adejumo, T. O. (2013). The effects of tax revenue on economic growth in Nigeria (1970-2011). International Journal of Humanitiesand Social Science invention. 2(6), 16-26.
[7] Edame, G. E., & Okoi, W. W. (2014). The impact of taxation on investment and economic development in Nigeria. Academic Journal ofInterdisciplinary Studies. 3(4). 209-218.
[8] Fasoranti, M. M. (2013). Tax productivity and economic growth. Lorem Journal of Business and Economics. 1(1), 1-10.
[9] Okoye, P.V.C., & Ezejiofor, R. (2014). The impact of e-taxation on revenue generation in Enugu, Nigeria. International of Advanced Research. 2(2), 449-458.
[10] Residual Analysis. (n.d.). DePaul University. Retrieved from http://facweb.cs.depaul.edu/sjost/csc423/documents/resid-anal.htm
Author Information
  • Statistics Department, Lens Polytechnic Offa, Offa, Nigeria

  • Statistics Department, Lens Polytechnic Offa, Offa, Nigeria

  • Mathematics and Statistics Department, Federal Polytechnic Offa, Offa, Nigeria

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  • APA Style

    Muritala Abdulkabir, Omuku Ikechukwu Joshua, Raji Surajudeen Tunde. (2016). A Model Selection on Economic Variable in Nigeria. Biomedical Statistics and Informatics, 1(1), 13-18. https://doi.org/10.11648/j.bsi.20160101.12

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    ACS Style

    Muritala Abdulkabir; Omuku Ikechukwu Joshua; Raji Surajudeen Tunde. A Model Selection on Economic Variable in Nigeria. Biomed. Stat. Inform. 2016, 1(1), 13-18. doi: 10.11648/j.bsi.20160101.12

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    AMA Style

    Muritala Abdulkabir, Omuku Ikechukwu Joshua, Raji Surajudeen Tunde. A Model Selection on Economic Variable in Nigeria. Biomed Stat Inform. 2016;1(1):13-18. doi: 10.11648/j.bsi.20160101.12

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  • @article{10.11648/j.bsi.20160101.12,
      author = {Muritala Abdulkabir and Omuku Ikechukwu Joshua and Raji Surajudeen Tunde},
      title = {A Model Selection on Economic Variable in Nigeria},
      journal = {Biomedical Statistics and Informatics},
      volume = {1},
      number = {1},
      pages = {13-18},
      doi = {10.11648/j.bsi.20160101.12},
      url = {https://doi.org/10.11648/j.bsi.20160101.12},
      eprint = {https://download.sciencepg.com/pdf/10.11648.j.bsi.20160101.12},
      abstract = {This study is on model selection on economic variable on gross domestic product in Nigeria, the data used for this study were extracted from National Bureau of Statistics (NBS), the statistical tool is multiple regression model and model selection to select the best model and in the variable and to evaluate and test GDP as a determinant which will capture the effect on economic variables. At the end of the analysis and findings it were concluded that Import value import value from the export, production, petroleum and consumption plays the most significant role in the company’s market. It can be used as a tool to estimate the company’s future market price.},
     year = {2016}
    }
    

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  • TY  - JOUR
    T1  - A Model Selection on Economic Variable in Nigeria
    AU  - Muritala Abdulkabir
    AU  - Omuku Ikechukwu Joshua
    AU  - Raji Surajudeen Tunde
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    DO  - 10.11648/j.bsi.20160101.12
    T2  - Biomedical Statistics and Informatics
    JF  - Biomedical Statistics and Informatics
    JO  - Biomedical Statistics and Informatics
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    EP  - 18
    PB  - Science Publishing Group
    SN  - 2578-8728
    UR  - https://doi.org/10.11648/j.bsi.20160101.12
    AB  - This study is on model selection on economic variable on gross domestic product in Nigeria, the data used for this study were extracted from National Bureau of Statistics (NBS), the statistical tool is multiple regression model and model selection to select the best model and in the variable and to evaluate and test GDP as a determinant which will capture the effect on economic variables. At the end of the analysis and findings it were concluded that Import value import value from the export, production, petroleum and consumption plays the most significant role in the company’s market. It can be used as a tool to estimate the company’s future market price.
    VL  - 1
    IS  - 1
    ER  - 

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