2. From the regression results, what would you conclude about a) airframe vs engine costs for each airline b) comparing airlines as to airframe costs
Part #2
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The data shows airframe as well as engine costs for two separate airlines.
By regression analysis, we mean to determine how the response variable is affected by the independent variable(s). For a simple linear regression, there is only one independent variable.
A simple linear regression equation can be written as, y = a + bx.
a. In this case, we want to determine how the engine cost is affected by the airframe cost for the Northern Airline.
Hence, our simple linear regression here is:
Engine Cost = a + b * Airframe cost.
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