"Modeling of Determinants of Petroleum Consumption of Vehicles in Ghana"

Abude, Francis Mawuli
March 2013
International Journal of Applied Science & Technology;Mar2013, Vol. 3 Issue 3, p111
Academic Journal
Petroleum consumption of vehicles is always a concern of many prospective car buyers, yet many seem clueless about its determinants. This paper determined the main predictors of petroleum use of vehicles from six predictor variables, and also developed a statistical model for predicting petroleum consumption. Data was gathered from seven automobile companies in Accra, Ghana on 121 common vehicles in the country. Statistical analyses used included Pearson's correlation and Best Subsets Regression, where the Mallow's Cp and adjusted R-square helped to determine the most adequate and plausible regression model. Key findings showed that weight, width, and horsepower were significantly negatively correlated with petroleum use of vehicles. However, the best regression model for prediction involved only weight and horsepower of a vehicle. The study bears implications for prospective vehicle buyers, sellers and Government.


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