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West African Journal of Industrial and Academic Research

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Buys-Ballot Modeling of Nigerian Domestic Crude Oil Production (2006 – 2012)

O Chigozie, KC Egwim, CN Eke, DO Onuoha

Abstract


This paper has examined time series analysis of Nigeria domestic crude oil production, the descriptive approach of time series analysis. Buys-Ballot table procedure was used in assessing variance stability (transformation), choice of model and seasonal effect. Inverse square root transformation was carried to stabilize the variance, quadratic trend was fitted and the error component was found to be random and normally distributed with mean zero and some constant variance i.e. e ~ N(0,0.022270) t .

Keywords: Buys-Ballot Table, Data Transformation, Periodic Averages, Choice of Model, Trend Assessment, Seasonal Indices




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