Canonical Correlation and Loglikelihood Ratio Analysis Applied to the Development of Crude Oil Products Evaluation
Shamsuddeen Idris Musa, General Studies, Emirates College of Health, Kano, Nigeria.
Usman Muhammad Tukur, General Studies, Emirates College of Health, Kano, Nigeria.
Investigation of whether the development of the Crude Oil Products depends over time or not and obtain the correlation matrix for the Crude Oil Products in Kaduna Refining and Petrochemical Company LTD (KRPC). Planning activities is very necessary in all organizations especially in oil producing companies because it helps to overcome the challenges in the future, looking at what had happened in the past, now and then make suggestions ahead. Statistical methodologies are concerned with making inference from observed data. Null hypothesis (Ho): The development of Crude Oil Products in KRPC is independence of the years. Alternate hypothesis (H1): The development of Crude Oil Products in KRPC is depending on the years. Canonical Correlation and Log-likelihood ratio test, Wilks lamda Criterion, and Correlation Matrix were used to analyzed the results using SPSS latest version. It reveals that a strong relationship exists between Xs variables Liquefied Petroleum Gas (LPG), Premium Motor Spit (PMS), Dual Purpose Kerosene (DPK) and Ys variables Automated Gas Oil (AGO), Low Pour Fuel Oil (LPFO), and Asphalt (A). The highest Co-efficient (CV1) is significant enough to conclude that there is a relationship between the Xs variables and Ys variables in terms of Development, and a Strong relationship exists between Crude Oil Products in Kaduna Refining and Petrochemical Company over time frame which is Statistically Significant (p<0.05). Although, the association between the number of years and the development of crude oil product in KRPC is (98.4%). Kaduna Refining and Petrochemical Company (KRPC) should notice the changes in the development of Crude Oil Products in the Company over the year so that it will enable them to plan ahead appropriately.
Canonical Correlation, Loglikelihood Ratio, Crude Oil products, Correlation Matrix, Refinery
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