Statistical Analysis Of Selected Staple Food In Imo State From (2002 – 2011) (A Case Study Of Owerri –Urban)

Project and Seminar Material for Mathematics and Statistics

Project and Seminar Material for Mathematics and Statistics


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.


Table Of Contents


Preliminary Page(s)

  • Title page
  • Approval page
  • Dedication
  • Acknowledgment
  • Abstract
  • Table of content

Chapter One

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

Chapter Two

2.0 Literature Review


Chapter Three

3.0 Methodology

  • 3.1 Data Collection
  • 3.2 Method of data analysis
  • 3.3 Validity of instruments
  • 3.4 Data presentation

Chapter Four

4.0 Analysis of Result

  • 4.1 Data analysis
  • 4.2 Interpretations of results

Chapter Five

5.0 Summary, Conclusion and Recommendations

  • 5.1 Summary
  • 5.2 Conclusion
  • 5.3 Recommendations
  • References
  • Appendix

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:

  1. To determine the current market price of these four staple food items.
  2. 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.
  3. The survey will make forecast for the expected prices of the food items for 2012 financial year.
  4. 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:

  1. 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.
  2. 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.
  3. 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.
  4. 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:

  1. Inefficient finance was the major problems encountered that leads to many absorptions to be added in out of obtaining the figure.
  2. 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:

  1. 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.
  2. 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.

1.7 Definitions Of Terms

Food:

This can be defined as a substance (especially solid) that can be taken into the body of an animal or plant to maintain its life.

Staple:

This means a basic type of food that is used a lot.

Rice:

This is a cereal plant grown in marshes in hot countries, with seeds used a food.

Beans:

This is a seed or pot containing seeds of a climbing plant, eaten as a vegetable.

Garri:

This is the large root of a tropical plant that is cooked as a vegetable.

Prices:

This can be defined as a measure of a commodity that expresses its worth in exchange for other goods and services. Or price is the amount of money for which a thing is bought or sold.


Chapter Five


5.0 Summary, Conclusion And Recommendation

5.1 Summary

Based on the fact that food has been described to constitute the primary source of human existence and also the basic necessity of life, but a situation where the staple food supply of any society is constrained by several factors ranging from the cost of cultivation, storage, transportation and labour, it will however pose a serious problem to the well being of the people in particular and Nigeria in general.

This project work on the analysis of prices of selected four (4) staple food items was carried out to determine if there is an increase in the trend of the prices of these food items and whether there is percentage increase or decrease in the prices of these items using a particular year as base year.

Therefore, from the analysis carried out from the data collected, the following summary of findings was revealed.

  1. That the current market prices of these staple food items were determined as follows N80.00 per cigarette cup of beans, N50.00 per cigarette cup of rice and a medium size tuber of yam weighing 2500 -3000 kilograms cost at N250.00.
  2. It was also observed through the computed price relatives for yam that there is a general decrease in the prices of yam with 2002 -2011; for rice, beans and garri, the computed price relative revealed that there was a significant increase in their prices.
  3. The reason behind the general rise in the computed price relatives for food items like: Rice, Beans and Garri was discovered that the state does not cultivate these items in large quantity, embargo placed on food importation and high cost of transportation.
  4. Furthermore, the estimated trend for quarterly prices of yam shows that the trend for price of yam from 2002 – 2011 was N146.775 with an increase of 0.5512%, for rice the trend was found at N70.5 per unit (kg) with an increase of 1.0352%, that of Beans was found to be N69.15 per unit (kg) with a quarterly increase of 0.9148% while the price trend of Garri was obtained as N32.45 per unit (kg) with a quarterly increase of 0.3432%.

5.2 Conclusion

In view of the summary of findings made above, the following conclusion can be drawn. There was a general percentage decrease on the prices of yam for the period in view and there was an uncontrollable significant percentage increase in the prices of Rice, Beans and Garri due to the fact that the state do not cultivate these items in large quantity and as well conclude that the estimated quarterly trend for those items was on increase, while the current market piles of these food items are N80.00 per cigarette cup of Beans, N30.00 per cigarette of Garri, N50.00 per cigarette of Rice, and N250.00 for a medium size tuber of yam.


5.3 Recommendation

Considering the summary of finds and conclusions drawn from the analysis carried out, the following recommendations are herby made:

  1. States and Federal Government should invest on Agriculture and Agro- based industries so as to improve the food supply to the nation.
  2. Price control boards should be established in the various food stuff markets in order to check the nonchalant attitude of some market traders who indulge in hoarding foodstuff which creates artificial inflation.
  3. Federal and state Government should try and establish adequate food storage facilities in order to check the annual loss of food crops to pests.

Statistical Analysis Of Selected Staple Food In Imo State From (2002 – 2011) (A Case Study Of Owerri –Urban)


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