I need to write a mini proposal , can you help me with 1. Model showing independ

Question

I need to write a mini proposal , can you help me with

1. Model showing independent and dependent variables.

2. Statistical technique to use.

" Impacts of falling crude oil prices on the economy of Saudi Arabia (2014-2017) As a result of high market demand of crude oil, many economies especially the economy of Saudi Arabia largely depended on it. Therefore any miniature shift on its price can cause an impact to both the manufacturer and the consumer but most of all on the economy. The following are some of the impacts that hit the economy of Saudi Arabia as a result of a drop in the prices of crude oil between the year 2014 and 2017 A drop in the price of oil leads to a negative impact in the government budget plans and social problems therefore leading to a drop in the county's GDP and per capita income It also lowers the government's effort to mine the oil due to high cost of production but low profit margins. In addition, a drop in the price of crude oil destabilized the economy of Saudi Arabia. This is because the fall in the price of crude oil leads to reduced profitability in the alternative energy sources. This also reduces the consumption of the fuel in the country. Furthermore, it kills the visions of an economy that depends on crude oil by a bigger percentage to shift to other means of energy sources. But as result of good

Explanation / Answer

Independent variable is price of crude oil

Dependent variable are per capita Income and GDP , Fuel Consumption , consumption of alternative sources of energy

You can use Stata or Excel to run regression and check for significance of variable . Also using excel you can see correlation coefficient between variables .

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