TY  - JOUR
T1  - A Prediction of Made in Nigeria Steel Bars Demand and Supply Using Regression Method
AU - , B. Kareem 
JO  - Journal of Engineering and Applied Sciences
VL  - 2
IS  - 3
SP  - 580
EP  - 584
PY  - 2007
DA  - 2001/08/19
SN  - 1816-949x
DO  - jeasci.2007.580.584
UR  - https://makhillpublications.co/view-article.php?doi=jeasci.2007.580.584
KW  - Steel bars
KW  -supply and demand
KW  -forecasting models
KW  -steel plants
AB  - Nigerian population is increasing daily; as a result of this increase, demand for various facilities, being industrial or domestic, would arise. It is, therefore, necessary that a strategy be devised to predict the future demands so as to plan for outputs such that it will always meet such demands. In this study, future demands and supplies of steel bars for Nigeria are predicted using Linear Regression (LR) approach. Information related to past demands and supplies of steel bars were extracted from relevant documents obtained from organisations. These data were used to formulate the trends equations. The correlations of the actual data to the calculated data showed that the trend was a good representation of the data. The results showed that the predicted supplies (2005 to 2010) are not always meeting demands and the annually increments in demand and supply were in good agreement with the established/projected Nigerian population annual growth rate of between 2.3 to 3.3%. It is clear that improving the present production capacity of the indigenous steel plants, among other consolidated measures, perhaps, will be expected to solve the problem of availability of made in Nigeria concrete reinforcement steel bars in future.
ER  -