STATISTICAL ANALYSIS ON THE MONTHLY INCOME GENERATED ON THE SALES OF COCA-COLA PRODUCTS IN AFIKPO

CHAPTER ONE

The world of business today calls for a great sophisticated competitors producing similar products. One of the major concerns of business enterprises in an environment is to identify and develop an effective marketing strategy for its products.

The development of every company depends on the amount of resources available for allocation to various sections in the company for the production of goods and services. Obviously, well established company is determined by its revenue generation and the level of profit made by such a company.

Some of the companies try to improve their products package, some try to offer free products. Manufacturers, who want to win the mind of the buyer of their products and drive away the interest those consumers have over competitors products, usually adopt marketing concept that sees the interest and satisfaction of the consumers as a focal point for any reasonable promotional strategies.

There is no establishment that stays in business that its interest is not to minimize loss in order to make reasonable profit. In order to achieve this, Nigeria Bottling Company (NBC) monitors their manufacturing processes so as to ensure a better control of the entire production processes. The monitoring activities help to ensure profit making which is the primary aim of every company and Nigeria Bottling Company (NBC) is not an exception.

Over the years, the sales rate of Nigeria bottling company (NBC) has undergone a series of change. The motive of setting up a producing company is to make profit. As a matter of facts, the sales level of a company is not expected to be static.

Therefore, the researcher intends to adop a linear model which can be used to determine the relationship existing between the coca cola products and the income generated from the sales in other to forecast the future sales (income) generated from the

company.

1.2 OBJECTIVES OF THE STUDY

The main objective of this study is to fit in a linear model which can be used to forecast or predict the future monthly sales generated from the some coca cola products in Afikpo. The specific objectives of the study are:

1.3 STATEMENT OF HYPOTHESIS

1.4 SIGNIFICANCE OF STUDY

This study will be very pertinent to Nigeria Bottling Company (NBC) and industries in the following ways:

1.5 SCOPE OF THE STUDY

This project covers the monthly income generated from the sales of the three specified products of Nigeria Bottling Company (NBC) in Afikpo North, Ebonyi State which include: sprite, fanta and coke from 2011 to 2015.

1.6 PROBLEMS ENCOUNTERED

There were many challenges encountered by the researcher in the course of collecting the data for this work. Such challenges include:

1.7DEFINITION OF TERMS:

Regression Analysis: Is a statistical process for estimating the relationship among variables.

Multiple Linear Regression: Is an aspect of regression which examines the linear relationships between one continuous response and two or more predictors.

Autocorrelation:Is a characteristics of data in which the correlation between the values of the same variables is based on related object. It violates the assumption of instance independence, which underlies most of the conventional model. It generally exist in those types of data-sets in which the data, instead of being randomly selected, is from the same source.

The Presence of Auto-correlation is generally unexpected by the researcher. It occurs mostly due to dependencies within the data. Its presence is a strong motivation for those researchers who are interested in relational learning and inference. In time series, autocorrelation is defined as the delayed correlation of a given series.

Detecting the presence of autocorrelation; there is a very popular test called Durbin Watson test that detects the presence of autocorrelation.

Multicollinearity:It is a phenomenon in which two or more predictor variables in a multiple regression model are highly correlated, meaning that one can be linearly predicted form the others with a substantial degree of accuracy.

Sales: the activities involve in giving a product to a buyer for exchange of price paid on that product.

Product: is any tangible and intangible that is offer to the market for attention, acquisition, use or consumption that might satisfy a want or need.

Econometrics can be defined as the application of statistical methods to economic data and such deals with the measure of economic relationship. This form of relationship is used by government and private sectors to formulate economic policies as well as to make decisions.

The basic tool for econometrics is regression analysis and it studies the relationship between two or more variables. In order to carry out and show the importance of econometrics analysis, one has to know how economic variables depend on one another and there is also need to carry out some tests based on information or data collected. It is also necessary to know the data analysis technique to be used in analyzing the given variables.

1. INTRODUCTION
1. STATEMENT OF PROBLEM
- To adopt a linear regression model for the monthly income generated from the sales of coca cola products.
- To examine whether there is a relationship between the coca cola products and the income generated from the sales.
- To know the particular coca cola product that contribute(s) most to the monthly sales (income) for the period (2011-2015).
- To forecast the monthly income from the sales using the developed model.
- To make recommendation based on the findings.
- The data is normally distributed.
- There is no presence of autocorrelation in the residual.
- The residuals are homogeneous.
- The regression model is not significant.
- There is no significant relationship between the coca cola products and the income generated from the sales.
1. It will help in inventory and stock control
2. The study will create awareness to the public and companies on the need for using statistical tools in analyzing their day to day activities.
3. It will strongly enable Nigeria Bottling Company (NBC) in making policy that will help them to increase their sales thereby enhancing their profit maximization.
- Reluctance in the release of needed data by NBC.
- Transport risks involved due to going from one place to another during the course of the research.
- There was also a financial challenge; a lot of expenses were made in the process of collecting the data for this work.

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