Homework Help is Here – Start Your Trial Now!
Math
Statistics
Suppose a study is conducted using only Boeing 737s traveling 800Kms on comparable routes during the same season of the year. Can the number of passengers predict the cost of flying such routes? It seems logical that more passengers result in more weight and more baggage, which could, in turn, result in increased fuel consumption and other costs. Suppose the data displayed in the table below are the costs and associated number of passengers for twelve 800-kms commercial airline flights using Boeing 737s during the same season of the year. We will use these data to develop a regression model to predict cost by number of passengers. A plot of the data collected is shown in Figure 3. 600 550

Suppose a study is conducted using only Boeing 737s traveling 800Kms on comparable routes during the same season of the year. Can the number of passengers predict the cost of flying such routes? It seems logical that more passengers result in more weight and more baggage, which could, in turn, result in increased fuel consumption and other costs. Suppose the data displayed in the table below are the costs and associated number of passengers for twelve 800-kms commercial airline flights using Boeing 737s during the same season of the year. We will use these data to develop a regression model to predict cost by number of passengers. A plot of the data collected is shown in Figure 3. 600 550

Linear Algebra: A Modern Introduction
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
See similar textbooks
icon
Related questions
Question
Suppose a study is conducted using only Boeing 737s traveling 800Kms on comparable routes during the same season of the year. Can the number of passengers predict the cost of flying such routes? It seems logical that more passengers result in more weight and more baggage, which could, in turn, result in increased fuel consumption and other costs. Suppose the data displayed in the table below are the costs and associated number of passengers for twelve 800-kms commercial airline flights using Boeing 737s during the same season of the year. We will use these data to develop a regression model to predict cost by number of passengers. A plot of the data collected is shown in Figure 3. Cost 600 550 500 450 400 350 300 5 6 6 7 7 8 Number of Passengers 8 9 9 10 Figure 3: Scatter plot of number of passengers on the x-axis and Cost on the y-axis.
Transcribed Image Text:Suppose a study is conducted using only Boeing 737s traveling 800Kms on comparable routes during the same season of the year. Can the number of passengers predict the cost of flying such routes? It seems logical that more passengers result in more weight and more baggage, which could, in turn, result in increased fuel consumption and other costs. Suppose the data displayed in the table below are the costs and associated number of passengers for twelve 800-kms commercial airline flights using Boeing 737s during the same season of the year. We will use these data to develop a regression model to predict cost by number of passengers. A plot of the data collected is shown in Figure 3. Cost 600 550 500 450 400 350 300 5 6 6 7 7 8 Number of Passengers 8 9 9 10 Figure 3: Scatter plot of number of passengers on the x-axis and Cost on the y-axis.
b) Shown in Figure 4 is output from a regression analysis on the data plotted in Figure 3. Use the output to perform a hypothesis test, at the 5% significance level, to determine if there is a relationship between the two variables. Include all steps in your response including the hypotheses, p-value, decision, and conclusion. c) The output in Figure 4 shows a confidence interval for the slope parameter. Provide the lower and upper limits of the 95% confidence interval and provide an interpretation of the interval. d) Using the output in Figure 4, determine the estimated least squares regression equation that represents the relationship between Cost (y) and number of passengers (x)? e) Use the regression equation from (d) to estimate the Cost when number of passengers are 80 and comment on the usefulness of this prediction SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0.9513 0.9050 0.8977 162.1952 15 Coefficients Standard Error t Stat P-value Lower 95% 5.501 0.000 972.068 11.129 0.000 1600.783 40.436 32.587 291.022 3.633 Upper 95% 2229.498 48.285 Intercept Number of Passengers Figure 4: Output from regression analysis on number of passengers / Cost data
Transcribed Image Text:b) Shown in Figure 4 is output from a regression analysis on the data plotted in Figure 3. Use the output to perform a hypothesis test, at the 5% significance level, to determine if there is a relationship between the two variables. Include all steps in your response including the hypotheses, p-value, decision, and conclusion. c) The output in Figure 4 shows a confidence interval for the slope parameter. Provide the lower and upper limits of the 95% confidence interval and provide an interpretation of the interval. d) Using the output in Figure 4, determine the estimated least squares regression equation that represents the relationship between Cost (y) and number of passengers (x)? e) Use the regression equation from (d) to estimate the Cost when number of passengers are 80 and comment on the usefulness of this prediction SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0.9513 0.9050 0.8977 162.1952 15 Coefficients Standard Error t Stat P-value Lower 95% 5.501 0.000 972.068 11.129 0.000 1600.783 40.436 32.587 291.022 3.633 Upper 95% 2229.498 48.285 Intercept Number of Passengers Figure 4: Output from regression analysis on number of passengers / Cost data
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
Recommended textbooks for you
Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Trigonometry (MindTap Course List)
Trigonometry (MindTap Course List)
Trigonometry
ISBN:
9781305652224
Author:
Charles P. McKeague, Mark D. Turner
Publisher:
Cengage Learning
Calculus For The Life Sciences
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
SEE MORE TEXTBOOKS