Essay on Regression Analysis
Our regression analysis was done on OMNITRANS fuel consumption. This has been an ongoing issue for OMNITRANS where there seems to be an inconsistency with there CNG fuel consumption. There continues to be variance in what is consumed each day compared to the amount of miles driven. This issue is very important to OMNITRANS because it makes it very difficult to plan for future use with the CNG industry. OMNITRANS wants to have a consistency with CNG use so they can plan for budgeting purposes and new contracts that are connected with the CNG usage. We are going to establish what we believe will be a good analysis for OMNITRANS to look at and establish what is needed in order to improve there fuel consumption within the …show more content…
When X Y
Day1 2904.2 8712.6
Day6 2807.1 8421.3
Day11 4128.3 12384.9
Day16 3489.3 10467.9
Day21 2424.3 7272.9 Coefficient of Determine = 1 Fuel Consumed Miles Driven
2500 7500
3500 10500 Next was the issue of establishing the Y factor. With this we ran into an issue of how many miles for each day. Even though OMNITRANS has set schedules for there buses there seemed to be an issue of establishing a breakdown of each bus bases on the different routes. Some buses drive only10 miles a day while another bus may drive up to 400 in single work day. What we have done is taken the average miles per gallon and multiplied by the amount of fuel consumed in gallons. We found that this is the best way of showing the correlation between the X and Y.
The opportunity for this is that if we can establish a norm of what should be happening with fuel consumption we would have a better way of establishing what is going on with the OMNITRANS buses. Below you will find our regression analysis for the data that was explained between the X and Y. Interpret Results
By the data above it will show that there is a direct relationship between fuel consumed and miles driven. As fuel

Regression Analysis
1301 Words  6 PagesIntroduction This presentation on Regression Analysis will relate to a simple regression model. Initially, the regression model and the regression equation will be explored. As well, there will be a brief look into estimated regression equation. This case study that will be used involves a large Chinese Food restaurant chain. Business Case In this instance, the restaurant chain 's management wants to determine the best locations in which to expand their restaurant business. So far the most…

Regression Analysis
19751 Words  80 Pagesintervals and prediction intervals from simple linear regression The managers of an outdoor coffee stand in Coast City are examining the relationship between coffee sales and daily temperature. They have bivariate data detailing the stand 's coffee sales (denoted by [pic], in dollars) and the maximum temperature (denoted by [pic], in degrees Fahrenheit) for each of [pic] randomly selected days during the past year. The leastsquares regression equation computed from their data is [pic].…

Regression Analysis
1447 Words  6 PagesREGRESSION ANALYSIS Correlation only indicates the degree and direction of relationship between two variables. It does not, necessarily connote a causeeffect relationship. Even when there are grounds to believe the causal relationship exits, correlation does not tell us which variable is the cause and which, the effect. For example, the demand for a commodity and its price will generally be found to be correlated, but the question whether demand depends on price or viceversa; will not be answered…

Regression Analysis for Demand Estimation
1065 Words  5 PagesDemand Estimation by Regression Method – Some Statistical Concepts for application ( All the formulae marked in red for remembering. The rest is for your concept) In case of demand estimation working with data on sales and prices for a period of say 10 years may lead to the problem of identification. In such a case the different variables that may have changed over time other than price, may have an impact on demand more rather than price. In order to void this problem of identification what…

Regression Analysis For A Dependence Method
753 Words  4 PagesRegarding the testing of the hypotheses of this research, regression analysis or structural equation modelling techniques is best suited for a dependence method (Hair et al., 2014). We employed regression analysis to specify the extent to which the independent variables predicted the dependent variable. The analysis conducted in this study was therefore intended to test the hypotheses of the study. The regression output provided some measures which allow assessment of the hypotheses. Following from…

Regression Analysis
1134 Words  5 Pagesflown on Northeast Airlines, a commuter firm serving the Boston hub, are shown for the past 12 weeks: Week 1 2 3 4 5 6  Demand 17 19 15 21 20 23  Problem 7 [6] A careful analysis of the cost of operating an automobile was conducted by a firm. The following model was developed: Y = 4,000 + 0.20X where Y is the annual cost and X is the miles driven. a) If the car is driven 15,000 miles…

Regression Analysis
705 Words  3 PagesRegression Analysis and Business Rules of thumb, instinct, convention, and simple financial analysis are frequently no longer adequate for addressing such common decisions found in business such as makeversusbuy, facility site selection, and process redesign. Generally, the forces of competition are commanding a need for more efficient decision making at all levels in companies. "Decision analysts provide quantitative support for the decisionmakers in all areas including engineers, analysts…

Regression Analysis Of Wal Mart
1757 Words  8 PagesRegression Analysis of WalMart Abstract This paper seeks to evaluate the effects of wage rates and sales for WalMart business using regression analysis. The data would also major on salestoemployee ratio. The study is carried out using quantitative research methods with findings and conclusions made on the same. The results show that the corporation employs less staff to sell its products thereby reducing instead of increasing the retail employment. Introduction Regression analysis is used to…

Regression and Correlation Analysis
2189 Words  9 Pagesperform the regression and correlation analysis for the data on CREDIT BALANCE (Y) and SIZE (X) by answering the following. Generate a scatterplot for CREDIT BALANCE vs. SIZE, including the graph of the "best fit" line. Interpret. The scatter plot of Credit balance ($) versus Size show that the slope of the 'best fit' line is upward (positive); this indicates that Credit balance varies directly with Size. As Size increases, Credit Balance also increases vice versa. MINITAB OUTPUT: Regression Analysis:…

The Regression Analysis
976 Words  4 Pages3. The slope of the linear regression line is 0.0647. This is shown in the equation of the line, on the right hand side of the chart. The Yintercept of the linear regression line is 127.64. The equation is Y=0.0647X127.64. The regression analysis, including residuals is in the Excel file attached. Part II This project was aimed at creating some reasonable forecasts of the trend of gas prices in the United States in the next period of time, based on an analysis of a series of annual gas prices…
More about Essay on Regression Analysis

Regression Analysis
1301 Words  6 Pages 
Regression Analysis
19751 Words  80 Pages 
Regression Analysis
1447 Words  6 Pages 
Regression Analysis for Demand Estimation
1065 Words  5 Pages 
Regression Analysis For A Dependence Method
753 Words  4 Pages 
Regression Analysis
1134 Words  5 Pages 
Regression Analysis
705 Words  3 Pages 
Regression Analysis Of Wal Mart
1757 Words  8 Pages 
Regression and Correlation Analysis
2189 Words  9 Pages 
The Regression Analysis
976 Words  4 Pages