BIG OIL IN A SMALL TOWN: THE EFFECTS OF A LARGE ECONOMIC EVENT ON SMALL BUSINESS SALES

Amy Bieber, Salem Boumediene and Scott Butterfield

Accounting & Taxation, 2018, vol. 10, issue 1, 51-60

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

Keywords: Sales Revenue; Oil Price; Oil Production; Bakken Oil Boom; Statistical Testing; Regression Analysis (search for similar items in EconPapers)
JEL-codes: C12 C3 M41 Q31 (search for similar items in EconPapers)
Date: 2018
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