QM 203 Course Project
A Brief Summary
After the completion of Chapter 11 (Regression Analysis – Statistical Inference) you are ready to embark on your project. Project is 20% of the course grade.
After the completion of the project, you will feel more comfortable with the Regression component of the course. Hopefully, some day you will apply the material learned to solve a business problem at your company.
Use the case data (DUPREE.XLS) provided by your text to analyze and find out whether a statistically reliable oil consumption model can be estimated from the data.
Project should be uploaded to BB the same way as HW. Do not email your project.
Some Additional Project Guidelines:
About 10 to 15 quality pages in Word format. No verbosity, please.
Using the materials used in this course and beyond propose the best model.
Using the automated variable selection procedures find the best model.
Compare the above two models and propose your best possible model.
Provide a summary of different models used and justify the best model.
Define the parameters of the proposed model.
Demonstrate the use of the model through examples.
Would you recommend any explanatory variables to be omitted.
Would you recommend any other explanatory variables that could be added to the model?
For more information please refer to:
“Course Documents” Link
“Multiple Regression – Statistical Inference (Ch 11)” Link
“8. Statistical Reporting – TERM PROJECT” Link
March 9, 2013