shishir349/Prediction-of-Tariff-Rates

Tariff is a list of expenses that incur while transporting the goods from one distance to another distance. Tariff is also dependent on seasonal and non-seasonal factors also. This project is aimed at predicting the tariff ratesfor truck load by using the different machine learning algorithms like lasso regression, elastic net regression, ridge regression and linear regression. Tariffisa combination of lot ofthings and tariff rate is dependent on some ofthe factorslikeYear, Road, SeasonalImpact, Fuel Cost,Distance, Weight, Toll charge, Demand, labour cost, travel expenses etc. Using some ofthese factors and by employing the above-mentioned machine learning regression algorithms we will be trying to predict the tariff rates on the trucks. By doing this we can help the industriesto estimate the tariffratesso that they can take the necessary actions and they can make their business run inprofitable way. This model helps small- and large-scale firms to control and manage the cost on transport.

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