STATISTICAL ANALYSIS OF SELECTED STAPLE FOOD IN IMO STATE FROM (2002 - 2011)
ABSTRACT
The role of food items in the growth and development of our body cannot be over emphasized. Since food is the basic necessity of life, but a situation where there is a fluctuation in the prices of food items, it becomes a situation that requires proper attention and evaluation. However, this research work on statistical analysis of prices of selected staple food items in Imo State from (2002 – 2011) with Owerri- Urban as case study was carried out using the statistical tool of time series analysis-Least method and price relatives of index number based on the data collected from Ministry of Finance of National Bureau of statistics annual abstract (2010) to determine if there is an increase in the trend of quarterly prices of yam, rice, beans and garri from (2002 -2011) and as well ascertain whether there is percentage increases or decreases in price relatives of these food items. Generally, from the Analysis carried out on the data collected, it can be deduced that the trend of quarterly prices of these items were found to be on increase.
CHAPTER ONE
1.0 Introduction
This project work is concerned with the statistical analysis of the prices of selected staple food in Imo State (Owerri – Urban) from 2002 – 2011. Since the origin of life, food has always constituted the primary source of human existence. Hence, it can be deduced that food constitutes the basic necessity of life.
However, staple food items taken by any society is constrained by several factors ranging from the cost of cultivation, storage, transportation and labor. These factors contributed to the price of food in any society. This implies that price fluctuations are due to the variations inherent in the various factors that constitutes it.
These fluctuations in the prices of the staple foods in the various parts of the country have been a subject of major controversy in the nation's economic life, since it has affected negatively the lives of fixed income earners and caused inflation in the economy of the country.
The term food can be a substance that can be taken into the body of an animal or plant to maintain its life. Also, since food is the most basic necessary of life, the study will examine the living standard of the urban populace and the prices of these food items and as well assess the amount of economic burden being carried by the masses.
1.1 Statement of Problem
Over the years, the issue of prices of major food items has caused a lot of anxiety to the economic life of many Nigerians and as a result has constituted a major subject of discussion among the policy makers in the country, since it affects low and fixed income earners in the country.
However, the problems of the research work are to investigate whether there is increase or decrease in the trend of selected staple food items to ascertain the current markets prices of these food items.
Another problem of this research work is to investigate whether there are fluctuations on the current price per unit for the selected food items as compared to a base period price per unit for those selected food items.
1.2 Aims and Objectives of Study
In view of the problems been stated by this research work, this study will seek to achieve the following objectives:
- To determine the current market price of these four staple food items.
- To determine the trend in the prices of some selected food items like: rice, beans, yam and garri for the past ten (10) years i.e. From (2002 -2011) using least square method of time series analysis.
- The survey will make forecast for the expected prices of the food items for 2012 financial year.
- Finally to give necessary recommendations from the findings of this research work to the government and the populace.
1.3 Significance of Study
Based on the aims and objectives of this research survey, its significance can be viewed in many respective:
- It will enable the general public especially the fixed income earners to plan ahead due to the fluctuations that may be experienced in the prices of selected staple food items.
- In establishing control price units at the various markets in the state, as a means of creating uniformity in the price of the food items.
- Furthermore, it will enable the statisticians or researcher or policy makers to know the rate of inflation in the country through the estimated price relatives of food items.
- Generally, it will help the policy marker in the state in realizing the usefulness of statistics in keeping up to date on the major food items consumed in the state.
1.4 Scope of Study
This project work on statistical analysis of prices of selected staple food items in Imo State covers the area of Owerri –Urban as case study with a time period of ten (10) years from 2002 -2011. It will also cover the statistical techniques of Time series Analysis and price relatives of index number.
1.5 Limitation of Study
This project is limited to 10 years only, hence the expected precision of the estimates is not fully guaranteed. Efficiency and precision of estimates are dependent upon the number of observations used in the computation of the estimates. As the number increases, so does the precision.
I faced a lot of constraints during the cause of this research work which among others include:
- Inefficient finance was the major problems encountered that leads to many absorptions to be added in out of obtaining the figure.
- Some of the respondents were reluctant to attend to the researchers questions, which took the researcher extra time and effort to convince such persons.
1.6 Statement of Hypothesis
The alternative hypothesis and null hypothesis are stated as follows:
- HO: There is no significant increase in trend of quarterly prices of selected four (4) staple food item from (2002 -2011).
- HI: There is a significant increase in trend of quarterly prices of selected four (4) staple food items from 2002 – 2011.
- HO: There is no significant percentage increase in prices of four selected staple food items from (2002 -2011) with 2002 as base year.
- HI: There is significant percentage increase in prices of four (4) selected staple food items from (2002 -2012) with 2002 as base year.
CHAPTER TWO
2.0 Literature Review
2.1 Introduction
The review of relevant literature is the main topic of this chapter. A literature review covers theoretical and methodological contributions to a certain issue in addition to the state of knowledge at the time of writing. It provides information about the state of the art in relation to the subject you are writing about. It examines the body of work on the chosen subject. The literature evaluation in this study comprises the …
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TABLE OF CONTENTSPRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
- 1.0 Introduction
- 1.1 Statement of Problem
- 1.2 Aims and objective of the study
- 1.3 Significance of the study
- 1.4 Scope of study
- 1.5 Limitation of study
- 1.6 Statement of hypothesis
- 1.7 Definition of terms
- 2.0 Literature review
- 3.0 Methodology
- 3.1 Data Collection
- 3.2 Method of data analysis
- 3.3 Validity of instruments
- 3.4 Data presentation
- 4.0 Analysis of result
- 4.1 Data analysis
- 4.2 Interpretations of results
- 5.0 Summary, Conclusion and Recommendations
- 5.1 Summary
- 5.2 Conclusion
- 5.3 Recommendations
REFERENCES
APPENDIX
Disclaimer for Complete Material Utilization
The displayed research work titled "Statistical Analysis of Selected Staple Food in Imo State From (2002 - 2011)" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
PRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
- 1.0 Introduction
- 1.1 Statement of Problem
- 1.2 Aims and objective of the study
- 1.3 Significance of the study
- 1.4 Scope of study
- 1.5 Limitation of study
- 1.6 Statement of hypothesis
- 1.7 Definition of terms
- 2.0 Literature review
- 3.0 Methodology
- 3.1 Data Collection
- 3.2 Method of data analysis
- 3.3 Validity of instruments
- 3.4 Data presentation
- 4.0 Analysis of result
- 4.1 Data analysis
- 4.2 Interpretations of results
- 5.0 Summary, Conclusion and Recommendations
- 5.1 Summary
- 5.2 Conclusion
- 5.3 Recommendations
REFERENCES
APPENDIX
Disclaimer for Complete Material Utilization
The displayed research work titled "Statistical Analysis of Selected Staple Food in Imo State From (2002 - 2011)" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
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