Projects

Container Transportation Company Case Analysis. In July 2007, Young, regional manager of Container Transportation Company (CTC), and his colleagues were looking for a new strategy to allocate containers for transportation from Korea and China to the Middle East. Challenged by top management, which had urged all business departments to optimize their revenues and profit, Young considered whether he could improve pricing or apply other revenue management (RM) techniques to improve revenues.

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The goal of the project was to build the best neural network model in machine learning for predicting prices of listings on AirBnB in Washington D.C. Two neural network models were trained using the neuralnet and Caret packages, and were then evaluated and compared. The first model (NN1) performed better with lower MSE and RMSE values, and higher correlation and R^2 values. The second model (NN2) had a slightly lower mean absolute error, but the change between the mean differences of predicted price from actual price in each model was tiny. Both models were found to be reasonably accurate in predicting prices, but NN1 was recommended for use as it had a better fit to the true values.

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