The following table tabulates the average airfare charged by particular airlines
ID: 2908890 • Letter: T
Question
The following table tabulates the average airfare charged by particular airlines in Bengaluru-Mumbai segment for last six months and the corresponding number of passengers in that month.
a)Calculate the ‘Correlation Coefficient’ (r) of these two variables from the given data. Also comment and conclude about the relationship within these two variables from the value of ‘r’.
b)
Assuming average airfare as dependent variable, fit a suitable regression line and forecast the average airfare for November and December assuming no of passengers will grow from October at a rate of 10% per month in November and December.
May june july aug Sept Oct Average Airfare 5150 4830 5870 5900 5300 5250 No of passengers 14900 15600 14000 14200 14000 14300Explanation / Answer
a)‘Correlation Coefficient’ (r) of these two variables from the given data -0.7738
there is negatively correlated i.e. low relation between these two variables
b)Assuming average airfare as dependent variable, fit a suitable regression line
y=a+b*x
y=average airfare
x=no. of passengers
y(average airfare)=12865.33-0.516* No.of passengers
forecast the average airfare for November and December assuming no of passengers will grow from October at a rate of 10% per month in November and December.
No. of passenger november and december is 14443 and 14588
forecast the average airfare for November is
y(average airfare)=12865.33-0.516* No.of passengers
y(average airfare)=12865.33-0.516* 14443
y(average airfare)=
=5413
forecast the average airfare for November is
y(average airfare)=12865.33-0.516* No.of passengers
y(average airfare)=12865.33-0.516* 14
y(average airfare)=
=5413
forecast the average airfare for December is
y(average airfare)=12865.33-0.516* No.of passengers
y(average airfare)=12865.33-0.516* 14443
y(average airfare)=5337.92
=5338
ssuming average airfare as dependent variable, fit a suitable regression line
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.