Mathematical Model for Estimating the Standard of Living of Nigerians and Achieving the First Agenda of the Vision 20; 2020

Abstract

The research is concerned with the development of a mathematical model for Nigerians’ standard of living and the achievement of the first item on the vision 20; 2020 agenda. The model was optimized to know whether it is possible for humans to have maximum or minimum standard of living. The optimization result showed that there is no specific standard of living value that can momentarily stop human existence but the snag indicated based on the work is that, those whose standard of living is critical (very close to zero percent) can take to negative ways of getting income in order to survive and thus, pose a challenge to the achievement of the overall vision 2020. Equally, the model was validated and observation about the model’s results and the questionnaire data was made, indicating that the results from our model and the questionnaire data have a higher degree of correlation of approximately 70%  or +0.7 ranking correlation coefficient and thus recommending the model as a standard measure for estimating the standard of living.

Key words: MDGs, Government Parameter, Vision 20-2020, Social status, HDR, MPI, constraint, Saddle-point, extremum.