VEHICLE REPAIR AND MAINTENANCE COSTS IN NIGERIA DEVELOPMENT OF A STANDARD MODEL
AbstractA standard model was established for the prediction of repair and maintenance costs of vehicles in a non-profit making government parastatal. The model was derived based on data collected over a ten year period from a non-profit making government parastatal, and it predicts repair and maintenance costs as a linear function of the age (in years) of the vehicles. The model showed that the vehicles' age (in years) was the major determinant of the vehicle repair and maintenance costs. It also revealed that a number of other factors, which were not quantified in this study due to lack of information, influenced repair and maintenance costs but to a lesser degree as compared to the age of the vehicles. These factors include maintenance management, driver skill and attitude, and the condition of the roads. Tests of significance for the model parameters show that most of the parameters are highly significant.
Key Words: Repair, Maintenance, Vehicle, Replacement, Model
Global Jnl of Mathematical Sciences Vol. 31) 2004: 1-4