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Regression Analysis On National Income
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STATEMENT OF PROBLEM/MOTIVATION
As a result of poor economic
condition in Nigeria relevant information is of great interest to me for
investigation if viable economic solution can be revealed.
Nigeria considered as one of the third world countries is been assessed
by their income yearly. It is a simple logic of our living that it
country’s income is high with considerable population, the enjoyment of
the citizens of that country would be high, while the enjoyment is low
with low national income. It is on this point that I find it very
expedient to analyze the national income of Nigeria and make necessary
recommendation for the improvement of the economy for the betterment of
the citizenry.
AIMS AND OBJECTIVES
In view of Nigeria’s economic
predicament, the project is aimed at investigating the relationship
existing between disposable income, savings and government final
expenditure for the purpose of suggesting solutions to our economic
problems.
After the regression analysis had been carried out, it will supply solution to the following questions:
1. Is any linear relationship between the variables listed?
2. How reliable is our regression coefficient?
3. Can we predict the future value of dependent variable?
4. How reliable will be our estimate?
SCOPE OF THE STUDY
The study is centre on “National Income, Savings and Government Final
Consumption Expenditure Covering the period of six years 1998 – 2003.
The raw data used are collected as primary data by federal office of
statistics†publication and Federal Ministry of Finance Publication.
The data are collected as primary data by federal office of statistics
and used as secondary data in this project which centered on national
Accounts. Some of these National Accounts Aggregates Include Gross
Domestic Product (GDP) final consumption expenditure, exports and
imports.
National Accounts data presents the record of
economic transaction of the economic in a systematic manner and show the
relationship between the various components of the economy. Economic
transaction cover all the activities of an entity (Household,
government, firm, financial institution) that are of economic nature
(production, consumption distribution, savings and foreign exchange
transactions. These economic transactions of all the entiti8tes and
combined together ad presented inform of account.
Data collected for analysis in this study center on:-
1. Appropriation of disposable income as dependent variable.
2. Savings as one of the independent variable
3. Government final consumption expenditure as another independent variable.
SIGNIFICANCE OF THE STUDY
The
study will help to know the status of Nigeria economy. The knowledge
of the status will help to make necessary recommendation in order to
revitalize the poor economic condition of the country for the better
future.
The study will also create avenue for future research.
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