Fungsi Permintaan Terhadap Suatu Komoditi (Snacks) yang Dikonsumsi oleh Keluarga Tertentu

Abstract

Economics issues may typically be transformed into linear form. Demand of snacks, for example, can be predicted based on the estimation of variables relevant to the snacks itself. In this research, the demand function parameter for a given commodity was predicted using the least square method, which consist of Ordinary Least Square (OLS) and Restricted Least Square (RLS). With OLS, the prediction was conducted without any restrictions. On the other hand, the prediction with RLS was performed with parameter restrictions (true restricted and false restricted). The data analysis that carried out in this research are including sampling and simulation of Monte Carlo with one million repetition. Based on the data analysis performed, it is known that the prediction with true restricted RLS approach has provided a more accurate and reliable result, that correspond with the economic theory. In general, the hypothesis model testing has shown that the price of snacks, the price of other types of foods, the price of other products and services and the income are together affecting the quantity of snacks demand. This model is sufficient to be used as a snacks demand estimator. The result of hypothesis testing is also shown that the demand function theory is classified into homogeneity degree zero function. This means that if all the prices and income rise by the same proportion, there would be no change in the demand of the specific commodity.