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B40 Group Income Household Trend in Malaysia

Authors: Humaida Banu Samsudin; Norsyasya Aina Mohd Mokhtar;

B40 Group Income Household Trend in Malaysia

Abstract

Income inequality is crucial issue in the Malaysian economy. This issue has a great impact especially on the B40 group income household because of the rising cost of living today. Therefore, modelling of income data is done to look at income pattern of B40 group in Malaysia. Household income data for Malaysia in year 2007, 2009, 2012, 2014 and 2016 have been used in this study. The income distribution used in this study is a two-parameter distribution of Weibull, Log Normal, Fisk and Gamma. This study uses only two parametric distributions to suit the income data because the simplest model is better than the complex model. The best distribution selection is performed with the fitting of statistical distribution through maximum likelihood estimation (MLE) method. Goodness of fit test has been done to model B40 household income data. The best model for each year used to predict the average income in the future by using regression method. Weibull distribution is the best model for B40 household income data. The study also shows that the average income of the B40 group in the future will increase. Therefore, this study was conducted to assist B40 group to be more sensitive to the Malaysian economy and plan their income wisely.

Keywords

General Computer Science, Mechanics of Materials, 2278-3075, Electrical and Electronic Engineering, 100.1/ijitee.L79041091220, B40 group income, goodness of fit test, income distribution, income inequalities, Civil and Structural Engineering

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citations
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
Average
Average
Average