COVID-19 Risk Factors, Economic Factors, and Epidemiological Factors nexus on Economic Impact: Machine Learning and Structural Equation Modelling Approaches

Authors

  • David Opeoluwa Oyewola
    Department of Mathematics and Computer Science, Federal University Kashere, Gombe, Nigeria
  • Emmanuel Gbenga Dada
    Department of Mathematical Sciences, University of Maiduguri, Maiduguri, Nigeria
  • Juliana Ngozi ndunagu
    Department of Computer Sciences, National Open University of Nigeria, Nigeria
  • Terrang Abubakar Umar
    5Department of Mathematics and Computer Science, Federal University Kashere, Gombe, Nigeria
  • Akinwunmi S.A
    5Department of Mathematics and Computer Science, Federal University Kashere, Gombe, Nigeria

Keywords:

COVID-19 Structural Equation Modelling, Latent variables, Random forest, Boosting.

Abstract

Since the declaration of COVID-19 as a global pandemic, it has been transmitted to more than 200 nations of the world. The harmful impact of the pandemic on the economy of nations is far greater than anything suffered in almost a century. The main objective of this paper is to apply Structural Equation Modeling (SEM) and Machine Learning (ML) to determine the relationships among COVID-19 risk factors, epidemiology factors and economic factors. Structural equation modeling is a statistical technique for calculating and evaluating the relationships of manifest and latent variables. It explores the causal relationship between variables and at the same time taking measurement error into account. Bagging (BAG), Boosting (BST), Support Vector Machine (SVM), Decision Tree (DT) and Random Forest (RF) Machine Learning techniques was applied to predict the impact of COVID-19 risk factors. Data from patients who came into contact with coronavirus disease were collected from Kaggle database between 23 January 2020 and 24 June 2020. Results indicate that COVID-19 risk factors have negative effects on epidemiology factors. It also has negative effects on economic factors.

Dimensions

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Published

2021-11-29

How to Cite

COVID-19 Risk Factors, Economic Factors, and Epidemiological Factors nexus on Economic Impact: Machine Learning and Structural Equation Modelling Approaches. (2021). Journal of the Nigerian Society of Physical Sciences, 3(4), 395-405. https://doi.org/10.46481/jnsps.2021.173

Issue

Volume 3, Issue 4, November 2021

Section

Original Research
Copyright & Licensing

Copyright (c) 2021 Journal of the Nigerian Society of Physical Sciences

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

How to Cite

COVID-19 Risk Factors, Economic Factors, and Epidemiological Factors nexus on Economic Impact: Machine Learning and Structural Equation Modelling Approaches. (2021). Journal of the Nigerian Society of Physical Sciences, 3(4), 395-405. https://doi.org/10.46481/jnsps.2021.173

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