Statistical Analysis On Prices And Quantities Of Staple Foods From 2007 To 2008 (A Case Study Of National Bureau Of Statistics Owerri)

Project and Seminar Material for Mathematics and Statistics

Abstract

In a city, state or country, prices of staple foods are never the same from one period to another. The prices of these staple foods either inflate or deflate depending on the period of purchase. This study is aimed to determine the instabilities in the prices and quantities of staple foods for the years 2007 and 2008 respectively.

The data for this study is secondary data source. Index number as a statistical tool was used to measure the variations in the prices and quantities of these foods. Also, analysis of variance (Anova) test was carried out, which led to the conclusion that there is significant difference in the prices of staple foods in Owerri and in Nigeria as a whole.

Table Of Content

Preliminary Page(s)

• Title page
• Certification
• Dedication
• Acknowledgement
• Abstract
• Table of content

Chapter One

1.0 introduction

• 1.1 background of the study
• 1.2 Statement of problem
• 1.3 Aim and objectives of the study
• 1.4 Significance of the study
• 1.5 Research question
• 1.6 Statement of hypothesis
• 1.7 Definition of terms

Chapter Two

2.0 Literature review

• 2.1 Food
• 2.2 Staple food
• 2.3 Price
• 2.4 Index number

Chapter Three

Research methodology

• 3.1 Source of data collection
• 3.2 Method of data analysis

Chapter Four

4.0 Data Presentation and Analysis

• 4.1 Presentation of data
• 4.2 Analysis of data using index methods
• 4.3 Testing of result using Anova techniques
• 4.4 Graphical representation of results

Chapter Five

Findings, Summary, Conclusion and Recommendation

• 5.1 Findings
• 5.2 summary
• 5.3 conclusion
• 5.4 recommendation
• 5.5 references.

Chapter One

1.0 Introduction

1.1 Background Of The Study

A staple food is a food that can be stored for use throughout the year and forms the basis of a traditional diet. Staple foods vary from place to place, but are typically inexpensive starchy foods of vegetable origin that are high in food energy (calories) and carbohydrate. The staple food of a specific cuisine may commonly be served as part of every meal, and its name may be used synonymously with “food” in some contexts such as the reference to “our daily bread” in the Lord ’s Prayer.

Although nutritious, staple foods generally do not by themselves provide a full range of nutrients, so other foods need to be added to the diet to prevent malnutrition.

A staple food is one that is eaten regularly and in such quantities as to constitute the dominant part of a diet and supply a major proportion of energy and nutrient needs. Staple food does not meet a population’s total nutritional needs; a variety of food is required. This is particularly the case for children and other nutritional vulnerable groups.

Typically, staple foods are well adapted to the growth conditions in their source areas. Farmers often rely on staple crops to reduce risk and increase the resilience of their agricultural systems. Most people live on a diet based on one or more of the following staples; rice, wheat, maize (corn), millet, sorghum, roots, tubers, (potatoes, cassava, yams) and animal products such as meat, milk, eggs, cheese and fish.
It has been investigated that some staple foods may act as a giften food in conditions of extreme poverty.

1.2 Statement Of The Problem

In our country Nigeria, the market environment of prices and quantities of staple foods has been unstable due to bad economy, and the ability to adapt to this environmental change is of great importance to most consumers. A means or measure for adaptation is by studying the index in the prices and quantities of staple food items.

However, to have better economy, there is need to study the instability of staple foods which determines the consumption pattern of any consumer in any country.

1.3 Aim And Objectives Of The Study

The aim of this research work is to determine the statistical analysis on the prices and quantities of staple food for the period of two years, 2007 and 2008 of which National Bureau of statistics is used as the case study.

The Objectives Are:

1. To determine the variation in prices and quantities of staple foods in Owerri, Imo State.
2. To determine the yearly increase in the prices and quantities of staple foods.
3. By making some necessary recommendations that will help the country in the nearest future based on the findings of this research work.

1.4 Significance Of The Study

At the end of this project, the Nigerian economy will be better, because it will be useful in controlling the prices and quantities of staple foods. Its significance is as follows:

1. It will serve as a market picture to the marketers on their daily business.
2. It will serve as a guide to the government in making certain policies on the prices and quantities of staple foods most especially in Imo State.
3. It will help the producers of staple foods to project for the future.
4. It will help the government and some agencies to know the need of keeping day to day record of the prices and quantities of staple foods in any particular place.

1.5 Research Question

A research question serve as a guide to the researcher in his quest for answers to the problems being investigated. Therefore, some of these research questions are as follows:

1. Are there any changes in the prices and quantities of staple foods?
2. Is there any effect in the yearly increase in the prices and quantities of staple foods?

1.6 Statement Of Hypothesis

Since we want to know whether there exists difference or changes in the prices and quantities of staple foods in the years 2007 and 2008, our null and alternate hypothesis will be:

• Ho: There is no significant difference in the prices of staple foods.
• HI: There is significant difference in the prices of staple foods.

1.7 Definition Of Term

Statistics:

It is a scientific method concerned with the collection, collation, computation, comparison, analysis and interpretation of numbers. These numbers are often referred to as data.

Staple Food:

It is a food that is eaten regularly and in such quantities as to constitute the dominant part of a diet and supplies major proportion of energy and nutrient need.

Price:

This is the sum of money by which a commodity is sold or bought.

Quantity:

This is the number of items or commodity that is sold or bought.

Producer:

This is the person that manufactures the staple foods.

Consumer:

This is the person that utilizes the staple food produced.

Inflation:

This is the general increase in the prices of commodities and fall in the purchasing power of money.

Deflation:

This is the general decrease in the prices of commodities and a rise in the purchasing power of money. It is the opposite of inflation.

Variation:

This is the degree of change.

Chapter Five

Findings, Summary, Conclusion And Recommendation

5.1 Findings

It is quite obvious from the findings of the study carried out in the fourth chapter that in 2007, the prices of staple foods were high and in 2008, the prices increased higher, much more than in 2007 which indicates that there was inflation in the prices of staple food in 2008.

The price of staple food determines the standard of market and standard of economy.

Index number is a very important tool in the measurement of the annual price variation because the different types of index methods that were used to analyze the data for this study resulted into the same range of price and quantity which means that index number is a reliable tool for measurement.

The ANOVA test also proves that there is significant difference in the prices of staple foods.

5.2 Summary

The prices of staple foods are never the same in any country, state or city. These prices inflate or deflate depending on the period of its purchase.

5.3 Conclusion

Based on the finding of this research work, it can be concluded that there is significant difference in the prices of staple foods in Owerri, since fcal (o.62) < ftab (5.99) thereby we reject Ho and accept Hi. Also from the result of index number, it is concluded that there is price instability in Owerri. And therefore, there is also price instability in the country.

5.4 Recommendation

1. The government should control the prices of these staple foods and other essential goods.
2. They should also improve in the work of price controlling board that are responsible for controlling the prices of essential commodities.
3. There should be increase in the production of essential goods and other efficient distribution so as to meet the demand for these goods.
4. Moreso, the government should promote investment and development of agriculture production of some staple foods.

Statistical Analysis On Prices And Quantities Of Staple Foods From 2007 To 2008 (A Case Study Of National Bureau Of Statistics Owerri)

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