Time Series Analysis Of Insurance Data Using Box-Jenkins Method

ABSTRACT

 In this work the monthly values of the data on the number of vehicles insured in Abia State for the period 1997- 2002 was analysed using the Box-Jenkins method. A time series graph of the data was plotted and it was observed that there was no trend. The estimated autocorrelation function and the estimated partial autocorrelation function were compared with the theoretical autocorrelation function and theoretical partial autocorrelation function. And it showed that the data series followed a moving 7:,average of order one. The fitted- Box Jgnkins model was used to make fore-casts and . . . in general, we observed that the number of vehicles insured in one year does not differ significantly from that of other years which conforms with the opinion that people in Abia State have not realized fully the importanrtof insurance in modem times.