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CO5124- Statistical data analysis and decision modelling

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The objective of this assignment is to apply statistical theory covered in the subject to business situations. Students are given data related to a simulated real-world business case. Students must read and analyse the case using appropriate statistical method and tests by using Microsoft Excel/PHStat. Students are required to:(a) comprehensively explain and critically analyse the relationship between the business issues;(b) apply appropriate and accurate statistical model to solve the business issues;(c) evaluate, analyse, and discuss the model outcomes; and (d) Communicate findings and draw critical justified conclusions and present recommendations with supporting evidences and implications. Note: (a) to (c) is the ACTION PLAN and (d) is the MANAGEMENT REPORT. For the first assignment,

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Summary of the project 

Basically, we want to create a predictive model to see whether the future change in the share price of the company Warner Enterprise is related to some relevant variables and the past data. Werner Enterprises, Inc. is an American freight carrier and transportation and logistics company headquartered in Omaha, Nebraska. The company has two divisions - Truckload Transportation Services and Werner Logistics. At the end of 2017, Truckload division has 7,435 trucks and Werner Logistics has 45 drayage trucks. Werner ships throughout the United States, Canada, Mexico, Asia, Europe, South America, Africa and Australia. It has a fleet of 7,400 trucks and more than 24,000 trailers. In 2015, their net profit was estimated as being $123.7 million. Werner has terminals located in 11 states to provide services for drivers, equipment and local recruiting. It offers van, flatbed and temperature-controlled services. It has regional offices throughout North America, China and Australia.

We have taken daily data for the whole analysis. The multiple linear regression model has been created and we have attached the ANOVA table, co-efficient of R squared, variance inflation factor, residual analysis and some plots also to check the assumption of normality of the errors and in fine the conclusion has been drawn based on our analysis.

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