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

See similar textbooks

Similar questions

The maintenance manager at a trucking company wants to build a regression model to forecast the time (in years) until the first engine overhaul based on four predictor variables: (1) annual miles driven (in 1,000s of miles), (2) average load weight (in tons), (3) average driving speed (in mph), and (4) oil change interval (in 1,000s of miles). Based on driver logs and onboard computers, data have been obtained for a sample of 25 trucks. A portion of the data is shown in the accompanying table. Time Miles Load Speed Oil 7.7 42.9 22.0 44.0 16.0 0.8 98.3 20.0 47.0 34.0 6.3 61.1 22.0 62.0 15.0 E Click here for the Excel Data File b. Estimate the regression model. (Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.) Time = Miles Load Speed oil + + d. What is the predicted time before the first engine overhaul for a particular truck driven 60,000 miles per year with an average load of 25 tons, an average driving speed of 53 mph, and 21,000 miles…
Might we be able to predict life expectancies from birthrates? Below are bivariate data giving birthrate and life expectancy information for each of twelve countries. For each of the countries, both x, the number of births per one thousand people in the population, and y, the female life expectancy (in years), are given. Also shown are the scatter plot for the data and the least-squares regression line. The equation for this line is y = 82.17 -0.47x. Birthrate, x (number of births per 1000 people) 14.3 27.4 51.1 46.8 24.9 29.9 18.2 41.6 49.4 14.1 33.9 49.3 Send data to calculator Female life expectancy, y (in years) 75.6 70.5 58.2 59.0 73.3 62.7 73.6 65.2 62.4 74.3 67.0 53.9 Send data to Excel Female life expectancy (In years) Based on the sample data and the regression line, answer the following. 85+ 80+ 75+ 70+ 65 60 55+ 50 (a) From the regression equation, what is the predicted female life expectancy (in years) when the birthrate is 29.9 births per 1000 people? Round your answer to…
A researcher collected statistics on the sales amount of a product in 120 different markets and the advertising budgets used in TV, radio and newspaper media channels for each of these markets. The sales amount are expressed in 1000 units, and the budgets are expressed in 1000 $. The researcher wants to create a simple linear regression model by choosing one among the TV, radio and newspaper advertising budgets to explain the amount of sales.a) Which variable should this researcher choose as an independent variable to the simple regression model? Explain your decision by providing its statistical basis.(use formula)b) Construct the simple linear regression model using the argument you chose and write the equation of the model. Comment b0 and b1.(not excel use formula please)c) Test whether there is a statistically significant, linear relationship between the independent variable and the dependent variable by establishing the relevant hypotheses at the level of α = 0.05 significance.…
For major league baseball teams, do higher player payrolls mean more gate money? Here are data for each of the American League teams in the year 2002. The variable x denotes the player payroll (in millions of dollars) for the year 2002, and the variable y denotes the mean attendance (in thousands of fans) for the 81 home games that year. The data are plotted in the scatter plot below, as is the least-squares regression line. The equation for this line is y = 11.43 + 0.23x. Player payroll, x (in Mean attendance, y (in $1,000,000s) thousands) Anaheim 62.8 28.52 Baltimore 56.5 33.09 40- Boston 110.2 32.72 35 Chicago White Sox 54.5 20.74 30- Cleveland 74.9 32.35 25- Detroit 54.4 18.52 Kansas City 49.4 16.30 15- Minnesota 41.3 23.70 10+ New York Yankees 133.4 42.84 Oakland 41.9 26.79 20 40 60 80 100 120 140 Seattle 86.1 43.70 Player payroll, Тarmpa Bay 34.7 13.21 X (in $1,000,000s) Техas 106.9 29.01 Toronto 66.8 20.25 Send data to calculator Send data to Excel Based on the sample data and…
Might we be able to predict life expectancies from birthrates? Below are bivariate data giving birthrate and life expectancy information for each of twelve countries. For each of the countries, both x, the number of births per one thousand people in the population, and y, the female life expectancy (in years), are given. Also shown are the scatter plot for the data and the least-squares regression line. The equation for this line is y= 82.15 – 0.47x. 00 Birthrate, x Female life expectancy, y (in years) (number of births per 1000 people) 40.4 65.2 85- 50.4 59.0 80+ 18.4 71.6 75- 26.5 69.9 70 32.0 64.5 65- 51.7 52.9 60- 34.4 67.2 14.6 75.9 50.1 45.8 59.2 49.9 62.1 Birthrate 73.7 26.2 (number of births per 1000 people) 73.7 14.4 Save For Later Submit Assignment Check 2 Accessibility O 2022 McGraw Hill LLC AN Rights Reserved. Terms of Use / Privacy Center DO 80 DIl 110 17 Da SO FA F4 esc F2 & delete %24 % 8 %23 6 7 3 4 7. U T K LA G S D Female life expectancy (in years)
A recent study showed that the hours a person exercised in a week affected the individual'sresting heart rate. It was computed that r = -.68 and the least squares regression line was?̂ = 83-1.4x, where x is the hours exercised and y is the resting heart rate. d. What percentage of variability in resting heart rate can be explained by variability inhours exercised?
The marketing manager wants to estimate the effect of the MBA program on Salary controlling for the other factors. Which regression model is the MOST appropriate? Oa. Salary = B_0+B_1 MBA + ε Ob. Salary = 3_0+ B_1 MBA + B_2 Work + e c. Salary = B_0+B_1 MBA+B_2 Work + B_3 Age +8 Od. Salary = B_0+ B_1 MBA + B_2 Work + B_3 Age +B_4 Gender + ε
Compute the least-squares regression line for predicting the number of stays from the cost. Round your answers to four decimal places.
In a study of 1991 model cars, a researcher computed the least-squares regression line of price (in dollars) on horsepower. He obtained the following equation for this line. Price = – 6677 + 175× Horsepower Based on the least-squares regression line, what would we predict the cost to be of a 1991 model car with horsepower equal to 200? If the actual cost of a 1991 car with 200 horsepower is $27500, what is the residual? Is the predictionan underestimate or an overestimate? What does the slope of 175 and y intercept of (0,-6677) mean in the context of the problem? The coefficient of determination is ?2=84%. Interpret in the context of the problem. Find the correlation and interpret.
Biologist Theodore Garland, Jr. studied the relationship between running speeds and morphology of 49 species of cursorial mammals (mammals adapted to or specialized for running). One of the relationships he investigated was maximal sprint speed in kilometers per hour and the ratio of metatarsal-to-femur length. A least-squares regression on the data he collected produces the equation ŷ = 37.67 + 33.18x %3D where x is metatarsal-to-femur ratio and ŷ is predicted maximal sprint speed in kilometers per hour. The standard error of the intercept is 5.69 and the standard error of the slope is 7.94. Construct an 80% confidence interval for the slope of the population regression line. Give your answers precise to at least two decimal places. Lower limit: Upper limit:
The least-squares regression equation is y=620.6x+16,624 where y is the median income and x is the percentage of 25 years and older with at least a bachelor's degree in the region. The scatter diagram indicates a linear relation between the two variables with a correlation coefficient of 0.7004. Predict the median income of a region in which 30% of adults 25 years and older have at least a bachelor's degree.
Students who are going to college have a cost per credit. The chart below is a cost of tuition cost increase over the years. A table of the yearly cost is listed below. A) Use technology (graphing calculator or excel) to determine the least squares regression line for the best fit line for the data given above. List the equation and R^2 Regression factor. B) Use your equation from technology to estimate how much college credits will cost in 2021

SEE MORE QUESTIONS

Recommended textbooks for you

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

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

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

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

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

Elementary Statistics: Picturing the World (7th E…

Statistics

ISBN:

9780134683416

Author:

Ron Larson, Betsy Farber

Publisher:

PEARSON

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

Statistics

ISBN:

9781319013387

Author:

David S. Moore, George P. McCabe, Bruce A. Craig

Publisher:

W. H. Freeman

SEE MORE TEXTBOOKS