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Big Oil In A Small Town: The Effects Of A Large Economic Event On Small Business Sales

Author

Listed:
  • Amy Bieber
  • Salem Boumediene
  • Scott Butterfield

Abstract

observe a relationship, data from the business’s sales was gathered along with historical oil prices and oil production in the region. Through the use of two-tailed statistical testing comparing sales to oil price and again to oil production, the differences between two means with dependent samples were observed. Both tests found that the oil production and price were indeed driving factors that affected the sales of the small business causing the sales trends to follow the same patterns as those found in the oil production and price amounts. These same tests can be applied to other businesses in the region to determine whether or not oil had a large effect on their sales figures as well

Suggested Citation

  • Amy Bieber & Salem Boumediene & Scott Butterfield, 2018. "Big Oil In A Small Town: The Effects Of A Large Economic Event On Small Business Sales," Accounting & Taxation, The Institute for Business and Finance Research, vol. 10(1), pages 51-60.
    • Handle: RePEc:ibf:acttax:v:10:y:2018:i:1:p:51-60
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    More about this item

    Keywords

    Sales Revenue; Oil Price; Oil Production; Bakken Oil Boom; Statistical Testing; Regression Analysis;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
    • Q31 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Demand and Supply; Prices

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