ECONOMETRICS ANALYSIS ON THE MONTHLY INCOME GENERATED FROM SALES OF LEGEND GUILDER, AND MALTINA DRINKS IN NIGERIA
ABSTRACT
The goal of this project is to conduct research on the monthly income generated by the sale of stout, Guilder, and Maltina drinks in Nigeria Breweries Ibadan Oyo State. Multicollinearity, autocorrelation, hetrosedasticity, and individual coefficient multiple regression analysis were used in the study. The analysis results show that there is a link between Stout, Guilder, and Maltina drinks. It also has the ability to predict an increase.
CHAPTER ONE
1.0 INTRODUCTION
Econometrics is a branch of social science concerned with the measurement of economic relationships. This type of relationship is used by the government and the private sector to formulate economic policies and make decisions.
The most common econometric tool is regression analysis, which studies the relationship between variables (two or more than two). To carry out econometric analysis and demonstrate the importance of econometric analysis in showing how economic variables depend on one another, some tests must be carried out based on information or data collected from an industry. It is also necessary to understand the data analysis technique that will be used to analyze the known variable.
1.1 HISTORICAL BACKGROUND OF NIGERIA BREWERIES PLC IBADAN OYO STATE.
Econometrics is a branch of social science concerned with the measurement of economic relationships. This type of relationship is used by the government and the private sector to formulate economic policies and make decisions.
The most common econometric tool is regression analysis, which studies the relationship between variables (two or more than two). To carry out econometric analysis and demonstrate the importance of econometric analysis in showing how economic variables depend on one another, some tests must be carried out based on information or data collected from an industry. It is also necessary to understand the data analysis technique that will be used to analyze the known variable.
Legend Extra Stout (Maltina Strewbery, Maltina exotic, and Maltina with principle) December 1992 Amtel Malt (1994), and Schweppes range of carbonated soft drinks included in December 1996 (Schweppes soda water). It was followed by the crush orange lunch in November 1997 and the Schweppes pine apple lunch in October 1999. In June 1998, the company introduced Heineken Larger beer into the Nigerian market. Because of the need to focus on its core competencies, the company decided to enter the carbonated soft drinks market in August 2001.
Nigerian Breweries Plc is a socially responsible corporate citizen with a strong track record of corporate philanthropy in areas such as education, the environment, and communication. In 1994, the company was founded on education. The trust fund #100 million to play a more active role in the establishment of educational and research facilities in higher citadels of learning is all part of an effort to provide and encourage academic excellence in Nigeria. This is in addition to its secondary and university scholarship program for employees’ children.
1.1 AIMS AND OBJECTIVES
The goal of this project is to demonstrate the rate at which the general public is interested in purchasing alcoholic and Maltina drinks.
i. Determine the degree of similarity between the independent and dependent variables
ii. Recognize the various types of relationships that exist between the independent and dependent variables.
iii. Determine the parameters of the econometrics model and test their significance.
iv. To develop an equation that can be used to forecast sales.
v. To forecast the factors’ values of the model’s variables
vi. To develop an economic policy and put it to the test using the obtained parameter.
1.2 SCOPE AND COVERAGE
Econometric base on the calculation of economic relationship. The scope of this project is based on the income generated on the sales of three specified product of Nigeria Breweries Ibadan, Oyo State, namely stout larger beer, Guilder larger beer and maltina drinks.
1.3 PROBLEM ENCOUNTERED
There are many problems that a researcher must face when collecting data for research work. Some of these problems are listed in the following paragraphs.
i. The primary data owner’s reluctance to release their data.
ii. Transportation risk exists as a result of traveling from one location to another during the course of the research work.
iii. There is also a financial issue; a large sum of money may be required for research work.
iv. Unavailability of relevant data due to a specific circumstance, for example, during political crises, data may not be able to be collected for a specific month, and during N.U.R.T.W. (National Union of Road Transport Workers) crises, data may not be accurately collected.
iv. Inaccuracy It may occur as a result of a misinterpretation of figures, approximation, rounding off, or even translation errors.
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