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Author(s): Azor Promise A., Omezuruike Gideon Wobo, Simon Iboye Aboko.

Volume/Issue: Volume 3 , Issue 3 (2020)

Abstract:

This research article describes a study of the application of simple linear regression modeling techniques to Nigerian Oil Export between the periods of 2004-2013 obtained from statistical bulletin. Our result shows that there is a direct linear relationship between Oil Export(X) and Gross domestic product(Y). The coefficient of determination provided a good summary of the total variability explained by the chosen fitted model. We also observe that Oil export is statistically significant due to the fact that Oil export plays a key role in the economic growth of Nigeria. Hence the proposed model y ̂=58123.115+0.723x is found to be adequate.

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