Price analysis of orange juice enterprises in Makurdi local government area of Benue state, Nigeria

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Abstract

This project is on Price analysis of orange juice enterprises in Makurdi local government area of Benue state, Nigeria. The study involved the random selection of orange juice sellers within, Makurdi town. A total of 99 questionnaires were administered and collected, data collected were subjected to descriptive analysis, gross margin analysis and the hypothesis was tested using a t-test. The result of the study indicated that 37.4% and 62.6% were male and female respectively, it was also discovered that the majority (50.5%) of the respondents were within the age of 26-37 year old and majority (73.7%) were single. Cost and return analysis showed that orange juice production is a profitable enterprise with a total cost of N 1,297.9798, enterprise earning of N 7,459.60 and gross margin of N 6,161.6162. The result also indicated price of orange juice is affected by the cost of materialS, quality of the juice, geographical area, season, and cost of production and packaging of the juice. the enterprise F-statistics (2.197) was statistically significant (p0.05). Hence, the null hypothesis was rejected and the alternative hypothesis accepted. The coefficient of determination (R2) was 0.145, implying that the independent variable in the model accounted for 58.6% variation in the gross margin. The hypothesis testing result further showed that enterprise experience (962.35) significantly (p0.05) affects the gross margin of the orange enterprise. It was concluded that orange juice production is a profitable enterprise in Makurdi.
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Price analysis of orange juice enterprises in Makurdi local government area of Benue state, Nigeria

3,000.00

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