Solution-Figure shows part of the full regression model

Figure shows part of the full regression model

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Reference no: EM131417167

The figure shows part of the full regression model (refer to Southwest Full Model if you want to recreate the output):


Constant	12.69939153
COUPON	3.754890986
New	-2.395531494
HI	0.008425792
S_INCOME	0.001206678
E_INCOME	-0.001374273
S_POP	3.40095E-06
E_POP	4.36313E-06
DISTANCE	0.074986255
PAX	-0.000870942
SW = Yes	-40.96959691
GATE = Free	-20.57923053
VACATION=Yes	-35.644441
SLOT=Free	-16.24476725

Which of the following statements are accurate and fully supported by the output?

Hint: There are two key things to keep in mind when we make statements about "the world" based on our regression models:

1) the regression coefficients always describe the average effect of the independent variables on the dependent variable

2) holding everything else constant

Vacation routes tend to be cheaper than other routes.
If the gates and slots are free, that will lower fares on average, everything else held constant.
The variables S_Pop and E_Pop are not important.

Reference no: EM131417167

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Figure shows part of the full regression model

Reference no: EM131417167

Reference no: EM131417167

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