MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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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 so = 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
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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 so = 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
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