The paper is aimed at examining the econometric modeling of passenger demand for international air transport in Nigeria Airports with the objective of examining the relationship between the international passenger demand in Nigeria airports and economic variables. 91.2% of the dependent variable can be well explained by the independent variables and the unexplained variables or the error term is 8.8%. The fact that the coefficient of explanation (R Square) is very high, this is a sign that there is a problem of multicolinearity and the Durbin Watson value (3.443) which is greater than 2 also signifies there is a problem of autocorrelation or serial correlation. The significance level of the computed test statistics is 1.29 which is more than the significance level (0.05), hence we cannot reject the null hypothesis which states that there is no statistical significant relationship between % change in international Passenger Traffic (Annual) and % change in economic indicators (Consumer Inflation Price (CPI), Naira value to Dollar and Gross Domestic Product). It is therefore concluded that the economic indicators cannot give a good forecast of international air transport demand because the model suffers from serial correlation, multicolinearity and insignificance of the test.
Published in | American Journal of Traffic and Transportation Engineering (Volume 2, Issue 4) |
DOI | 10.11648/j.ajtte.20170204.11 |
Page(s) | 39-44 |
Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
Copyright |
Copyright © The Author(s), 2017. Published by Science Publishing Group |
Air Transport, Demand, Trend Analysis, Transportation
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APA Style
Adetayo Olaniyi Adeniran, Adedayo Ayomide Adeniran. (2017). Econometric Modeling of Passenger Demand for International Air Transport in Nigeria Airports. American Journal of Traffic and Transportation Engineering, 2(4), 39-44. https://doi.org/10.11648/j.ajtte.20170204.11
ACS Style
Adetayo Olaniyi Adeniran; Adedayo Ayomide Adeniran. Econometric Modeling of Passenger Demand for International Air Transport in Nigeria Airports. Am. J. Traffic Transp. Eng. 2017, 2(4), 39-44. doi: 10.11648/j.ajtte.20170204.11
@article{10.11648/j.ajtte.20170204.11, author = {Adetayo Olaniyi Adeniran and Adedayo Ayomide Adeniran}, title = {Econometric Modeling of Passenger Demand for International Air Transport in Nigeria Airports}, journal = {American Journal of Traffic and Transportation Engineering}, volume = {2}, number = {4}, pages = {39-44}, doi = {10.11648/j.ajtte.20170204.11}, url = {https://doi.org/10.11648/j.ajtte.20170204.11}, eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ajtte.20170204.11}, abstract = {The paper is aimed at examining the econometric modeling of passenger demand for international air transport in Nigeria Airports with the objective of examining the relationship between the international passenger demand in Nigeria airports and economic variables. 91.2% of the dependent variable can be well explained by the independent variables and the unexplained variables or the error term is 8.8%. The fact that the coefficient of explanation (R Square) is very high, this is a sign that there is a problem of multicolinearity and the Durbin Watson value (3.443) which is greater than 2 also signifies there is a problem of autocorrelation or serial correlation. The significance level of the computed test statistics is 1.29 which is more than the significance level (0.05), hence we cannot reject the null hypothesis which states that there is no statistical significant relationship between % change in international Passenger Traffic (Annual) and % change in economic indicators (Consumer Inflation Price (CPI), Naira value to Dollar and Gross Domestic Product). It is therefore concluded that the economic indicators cannot give a good forecast of international air transport demand because the model suffers from serial correlation, multicolinearity and insignificance of the test.}, year = {2017} }
TY - JOUR T1 - Econometric Modeling of Passenger Demand for International Air Transport in Nigeria Airports AU - Adetayo Olaniyi Adeniran AU - Adedayo Ayomide Adeniran Y1 - 2017/08/25 PY - 2017 N1 - https://doi.org/10.11648/j.ajtte.20170204.11 DO - 10.11648/j.ajtte.20170204.11 T2 - American Journal of Traffic and Transportation Engineering JF - American Journal of Traffic and Transportation Engineering JO - American Journal of Traffic and Transportation Engineering SP - 39 EP - 44 PB - Science Publishing Group SN - 2578-8604 UR - https://doi.org/10.11648/j.ajtte.20170204.11 AB - The paper is aimed at examining the econometric modeling of passenger demand for international air transport in Nigeria Airports with the objective of examining the relationship between the international passenger demand in Nigeria airports and economic variables. 91.2% of the dependent variable can be well explained by the independent variables and the unexplained variables or the error term is 8.8%. The fact that the coefficient of explanation (R Square) is very high, this is a sign that there is a problem of multicolinearity and the Durbin Watson value (3.443) which is greater than 2 also signifies there is a problem of autocorrelation or serial correlation. The significance level of the computed test statistics is 1.29 which is more than the significance level (0.05), hence we cannot reject the null hypothesis which states that there is no statistical significant relationship between % change in international Passenger Traffic (Annual) and % change in economic indicators (Consumer Inflation Price (CPI), Naira value to Dollar and Gross Domestic Product). It is therefore concluded that the economic indicators cannot give a good forecast of international air transport demand because the model suffers from serial correlation, multicolinearity and insignificance of the test. VL - 2 IS - 4 ER -