PREDICTION OF CONCRETE MIX COST USING MODIFIED REGRESSION THEORY
DOI:
https://doi.org/10.4314/njt.322.651Keywords:
concrete, regression theory, optimisation, cost, modelAbstract
The cost of concrete production which largely depends on the cost of the constituent materials, affects the overall cost of construction. In this paper, a model based on modified regression theory is formulated to optimise concrete mix cost (in Naira). Using the model, one can predict the cost per cubic meter of concrete if the mix ratios are given. The model can also give possible mix ratios for a specified cost. Statistical tool was used to verify the adequacy of this model. The concrete cost analysis is based on the current market prices of concrete constituent materials. A Price Fluctuation Factor (PFF) can be used to take care of price fluctuations over time.
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