Marginal Analysis of Gross Domestic Product using Best-Fitted Least Square Model

Abstract

Gross Domestic Product (GDP) represents the total monetary value of all goods and services produced over a specific time period. This study models the GDP data of the state of Kedah, Malaysia for year 2005-2016. A mathematical model is developed for the state GDP data using Least Square Methods. The future GDP values are predicted using five empirical models: Linear model, Quadratic model, Cubic model, Exponential model and Polynomial model. The result has shown that Exponential model is the best fitted model for Kedah GDP data. The result of the derivative of the obtained model provide marginal analysis that shows the performance of GDP per year for the state.
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