Mathematics
Mathematics, 20.03.2020 01:27, tynan74

An airline developed a regression model to predict revenue from flights that connect "feeder" cities to its hub airport. The response in the model is the revenue generated by flights operating to the feeder cities (in thousands of dollars per month), and the two explanatory variables are the air distance between the hub and the feeder city (Distance, in miles) and the population of the feeder city (in thousands). The least squares regression equation based on data for 37 feeder locations last month is Estimated Revenue= 87 + 0.3 Distance + 1.5 Population
with R2 = 0.74 and Se= 32.7.

a. The airline plans to expand its operations to add an additional feeder city. One possible city has population 100,000 and is 250 miles from the hub. A second possible city has population 75,000 and is 200 miles from the hub. Which would you recommend if the airline wants to increase total revenue?
b. What is the interpretation of the intercept in this equation?
c. What is the interpretation of the partial slope for Distance?
d. What is the interpretation of the partial slope for Population?

answer
Answers: 1

Other questions on the subject: Mathematics

image
Mathematics, 21.06.2019 16:30, ikgopoleng8815
11. minitab software was used to find the lsrl for a study between x=age and y=days after arthroscopic shoulder surgery until an athlete could return to their sport. use the output to determine the prediction model and correlation between these two variables. predictor coef se coef t p constant -5.054 4.355 -1.16 0.279 age 0.2715 0.1427 1.9 0.094 r-sq = 31.16%
Answers: 2
image
Mathematics, 21.06.2019 21:30, adam15200031
Yesterday, george drank 1 small bottle and 2 large bottles, for a total of 1,372 grams. the day before , he drank 1 small bottle and 1 large bottle, for the total of 858 grams. how many grams does each bottle hold?
Answers: 1
image
Mathematics, 22.06.2019 00:30, JGottem6489
If you invest 1,500 today in a bank that gives you a 5 percent annual interest rate, which of these items can you buy in two years? a. electronics worth $1,650 b. fitness equipment worth $1,700 c. a holiday package worth $2,000
Answers: 2
image
Mathematics, 22.06.2019 01:30, cpulls189
Cherie works in retail and her weekly salary includes commission for the amount she sells. the equation s=400+0.15c models the relation between her weekly salary, s, in dollars and the amount of her sales, c, in dollars. interpret the slope of the equation.
Answers: 3
Do you know the correct answer?
An airline developed a regression model to predict revenue from flights that connect "feeder" cities...

Questions in other subjects: