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 s₂ = 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 the airline wants to increase total revenue? O The first city O The second city
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 s₂ = 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 the airline wants to increase total revenue? O The first city O The second city
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter7: Distance And Approximation
Section7.3: Least Squares Approximation
Problem 31EQ
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