Homework Help is Here – Start Your Trial Now!
Math
Statistics
(c) What is the interpretation of the partial slope for Distance?

(c) What is the interpretation of the partial slope for Distance?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
See similar textbooks
Question

I need help with c

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 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 = 81 +0.3Distance + 1.4Population with R² = 0.75 and se = 31.2. Complete parts a through d. (a) The airline plans to expand its operations to add an additional feeder city. The first possible city has population 150,000 and is 275 miles from the hub. A second possible city has population 180,000 and is 250 miles from the hub. Which would you recommend if the airline wants to increase total revenue? The first city The second city (b) What is the interpretation of the intercept in this equation? A. The intercept estimates fixed revenue based upon the distance between the hub and feeder city. B. The intercept estimates fixed revenue based upon the population of the feeder city. C. The intercept estimates fixed revenue regardless of distance or population, such as earnings from air freight. D. An interpretation of the intercept cannot be determined given the data. (c) What is the interpretation of the partial slope for Distance? A. Among comparably populated cites, flights to those that are 100 miles away produce $8,100,000 more revenue per month, on average. B. Among comparably populated cities, flights to those that are 100 miles away produce $140,000 more revenue per month, on average. C. Among comparably populated cities, flights to those that are 100 miles away produce $30,000 more revenue per month, on average. D. An interpretation of the partial slope for Distance cannot be determined given the data.
Transcribed Image Text: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 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 = 81 +0.3Distance + 1.4Population with R² = 0.75 and se = 31.2. Complete parts a through d. (a) The airline plans to expand its operations to add an additional feeder city. The first possible city has population 150,000 and is 275 miles from the hub. A second possible city has population 180,000 and is 250 miles from the hub. Which would you recommend if the airline wants to increase total revenue? The first city The second city (b) What is the interpretation of the intercept in this equation? A. The intercept estimates fixed revenue based upon the distance between the hub and feeder city. B. The intercept estimates fixed revenue based upon the population of the feeder city. C. The intercept estimates fixed revenue regardless of distance or population, such as earnings from air freight. D. An interpretation of the intercept cannot be determined given the data. (c) What is the interpretation of the partial slope for Distance? A. Among comparably populated cites, flights to those that are 100 miles away produce $8,100,000 more revenue per month, on average. B. Among comparably populated cities, flights to those that are 100 miles away produce $140,000 more revenue per month, on average. C. Among comparably populated cities, flights to those that are 100 miles away produce $30,000 more revenue per month, on average. D. An interpretation of the partial slope for Distance cannot be determined given the data.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman
SEE MORE TEXTBOOKS