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Cost Regression Example

This document describes a parametric estimate of highway construction costs using regression analysis. It identifies 7 factors that affect construction costs, including project type, year, season, location, duration, length, and capacity. Historical cost data for 18 highway projects is provided, along with a regression model that estimates costs based on the 7 factors. The model has an R-square value of 0.856, indicating it explains over 85% of the variation in actual costs.

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70 views4 pages

Cost Regression Example

This document describes a parametric estimate of highway construction costs using regression analysis. It identifies 7 factors that affect construction costs, including project type, year, season, location, duration, length, and capacity. Historical cost data for 18 highway projects is provided, along with a regression model that estimates costs based on the 7 factors. The model has an R-square value of 0.856, indicating it explains over 85% of the variation in actual costs.

Uploaded by

Clic Point
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd

Parametric Estimate of Highway Construction Cost

Factors affecting highway construction:


No. Name
1 Project Type Represents the type of the road (rural, main. Highway) and represented bu 1 or 2 or 3
2 Year The construction year (e.g., 1989, 2002, …..)
3 Season The construction season (Winter or Summer) and represented by 1 or 2
4 Location Project location (e.g., mansoura, Caro, …) with each represented by a code 1, 2, 3, …
5 Duration Construction period in Months
6 Length Road length in Km
7 Capacity Number of lanesin each direction

Historical data
Independent Variables Dependent variable

Project Project Type Year Season Location Duration Size Capacity Actual total Cost
1 3 1991.00 2 3 1 4.75 1 0.151
2 1 1990.00 2 3 9 0.1 1 0.335
3 2 1991.00 2 3 8 7.9 1 0.579
4 2 1991.00 3 3 12 1 1 0.376
5 2 1990.00 2 2 10 0.4 1 0.339
6 2 1991.00 2 3 9 6.4 1 0.612
7 2 1990.00 2 3 19 7.9 1 1.080
8 2 1990.00 2 2 20 0.87 1 0.673
9 2 1991.00 2 3 3 11.2 1 0.678
10 2 1990.00 2 3 4 1 1 0.129
11 2 1990.00 1 3 22 13.5 1 1.210
12 1 1991.00 2 3 17 0.1 1 0.220
13 2 1990.00 2 3 16 40 2 1.738
14 2 1991.00 2 3 20 0.9 1 0.637
15 2 1991.00 2 3 12 7.55 1 0.608
16 2 1989.00 1 3 36 11.6 1 0.717
17 2 1990.00 2 2 12 9 1 0.959
18 2 1991.00 2 3 11 8.4 1 0.710
Regression model
SUMMARY OUTPUT

Regression Statistics
esented bu 1 or 2 or 3 Multiple R 0.92561
R Square 0.856754
Adjusted R Square 0.756482
d by a code 1, 2, 3, … Standard Error 0.199254
Observations 18

ANOVA
df SS MS F Significance F
Regression 7 2.374595 0.339228 8.544281 0.001546
Residual 10 0.397023 0.039702

Total 17 2.771618

Coefficients
Standard Error t Stat P-value Lower 95%Upper 95%
Intercept -84.68172 244.4549 -0.34641 0.736213 -629.3611 459.9977
Project Type -0.092786 0.131128 -0.707594 0.495358 -0.384958 0.199386
Year 0.043269 0.122923 0.352001 0.732142 -0.23062 0.317157
Season 0.168769 0.194746 0.866614 0.406467 -0.265151 0.60269
Location -0.231928 0.149598 -1.550343 0.152104 -0.565253 0.101397
Duration 0.015607 0.007843 1.989843 0.07464 -0.001869 0.033082
Size 0.058974 0.01517 3.887655 0.003021 0.025174 0.092774
Capacity -0.875095 0.575081 -1.52169 0.159059 -2.156455 0.406266

RESIDUAL OUTPUT

Observation
Predicted Actual total
Residuals
Cost
1 0.250688 -0.099968
2 0.243615 0.091611
3 0.638488 -0.059838
4 0.462764 -0.086424
5 0.416056 -0.077302
6 0.565633 0.046525
7 0.766891 0.312978
8 0.59984 0.073114
9 0.755068 -0.076603
10 0.125872 0.002923
11 0.975195 0.234665
12 0.411736 -0.191579
13 1.738038 6.661E-16
14 0.41295 0.223931
15 0.680273 -0.072215
16 1.038369 -0.321088
17 0.954444 0.004188
18 0.714794 -0.004917
Lower 95.0%
Upper 95.0%
-629.3611 459.9977
-0.384958 0.199386
-0.23062 0.317157
-0.265151 0.60269
-0.565253 0.101397
-0.001869 0.033082
0.025174 0.092774
-2.156455 0.406266

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