PROBABILITY AND STATISTICS SOFTWARE FOR AN ENGINEERING APPLICATION: PETROLEUM SUPPLY DEMAND MODELING

The impact of computer technology on organization and society is increasing as
new technologies evolve and current technologies expand. Interaction and cooperation
between people and machines are rapidly growing to cover more and more aspects of
organizational activities. The increased use of computing facilities and the application of
concepts and theories from different disciplines (like operational research, management
science, artificial intelligence) have resulted in various types of computer based systems.
The use of models to support decision making is common-place, particularly since the
emergence of personal computer. These models have progressively been used more and
more by decision makers themselves
In this project, a software that incorporates a statistical model is being developed. This
model will be able to assist the users in carrying out forecasting activities. The proposed
models for the courseware include a multiple regression analysis and the time series
models. The purpose of this software is to allow easy and painless interaction between
the user and the software. The supply and demand aspects has been carefully studied to
provide a better understanding of the industry. The output of the software will be used to
improve engineers' and managers' decisions on topics such as whether petroleum
production be increased or whether alternative energy resources development should be
accelerated.