Bus308: Stats for Managers - Final Paper

 Bus308: Stats for Managers - Last Paper

Gas Prices

Nathaniel Peters

BUS 308: Statistics to get Managers

Trainer: Ali Choudhry

August 8, 2011

Gas Prices

Delivery service is a way of life. Every day, people get packages brought to them by way of this assistance. But few people think of the costs the delivery company must deal with. One of the primary operating costs that we as a delivery company have is usually gasoline. We all use gas daily in massive quantities. The cost of gas affects American's daily, and individuals can be observed complaining about the high rates. What about delivery companies? In this paper, we will be discussing the effect of increasing gas rates on the company throughout the next ten years.

Gas prices change daily, and all year round it is amazing to look at the monthly uses changing. In 2008 these kinds of averages various from a low of 1. xie hundred, eighty-nine to a high of 4. 09. That is a difference of 2. 401, a huge big difference within one year. So what could it be that makes gas prices alter so drastically? There is a mixture of sorts to consider with regards to why we pay that which we pay for gas. The formula is: crude oil + improving process & retail sales/distribution + taxation = gas price. A good example of a sudden selling price change are located in Hurricane Katrina. Many olive oil refineries and drilling businesses were worn out because of the storm, causing a spike inside the gasoline prices because of the sudden reduction in source. (Roy, 2010)

We on the delivery organization have come up with a data going help survey on the effects of this situation. We began by simply compiling typical gas value by month and year. The annual values had been then accustomed to create a spread plot in order that we could view the price differentials in a visible format. In that case, a geradlinig regression range was added to show the maximize throughout the years in a geradlinig fashion, thus helping all of us determine in which the prices will certainly average out to in the a long time.

There are, of course , points that may considerably change the span of the thready regression collection that...

Sources: 1 . Roy, R. (2010). Why does gas cost a lot? Retrieved September 7, 2011 from http://autos.aol.com/article/why-gas-costs-so-much/.

2 . Kilian, Lutz. Outlining fluctuation in gasoline prices: a joint model of a global crude oil market and the U. S. retail gasoline market. Energy Diary, 2010, Vol. 31 Issue 2 . Gathered August almost 8, 2011 by http://web.ebscohost.com/ehost/.

3. Atkinson, W.; Eckert, A.; West, G. Price matching and the dominospiel effect within a retail fuel market. Financial Inquiry, This summer 2009, Volume. 47 Issue 3. Recovered August almost eight, 2011 coming from http://web.ebscohost.com/ehost/.


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