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 thefeeder 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 (inthousands). 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 so = 31.2. Completeparts 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 population180,000 and is 250 miles from the hub. Which would you recommend if the airline wants to increase total revenue?The first cityThe second city

The regression equation is, Estimated revenue = 81 + 0.3Distance + 1.4Population.

Answered: An airline developed a regression model…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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