The correlation coefficient and coefficient of determination

Assignment Help Other Subject
Reference no: EM13806424

Draw a scatter diagram with Distance as the independent variable and Fare as the dependent variable. Is the relationship direct or indirect?

Compute the correlation coefficient. At the .05 significance level, is it reasonable to conclude that the correlation coefficient is greater than zero?

What percentage of the variation in Fare is accounted for by Distance of a flight?

Determine the regression equation. How much does each additional mile add to the fare? Estimate the fare for a 1,500-mile flight.

A traveler is planning to fly from Atlanta to London Heathrow. The distance is 4,218 miles. She wants to use the regression equation to estimate the fare.

Explain why it would not be good idea to estimate the fare for this international flight with the regression equation.

Determine the regression equation used to forecast air fare based on distance travelled.

Determine and interpret the correlation coefficient and the coefficient of determination.
Forecast the air fare for a 2000 mile trip.

Write up a short essay analyzing the regression model.

Identify at least one additional variable that could be used to forecast air fare.

Reference no: EM13806424

Questions Cloud

Discuss the applications of rotational forces : Discuss the applications of rotational forces in real-life situations. Remember to include relevant equations.
Discuss the three guidelines that good contingency plans : Through the use of strategic alternatives, companies may compete in a marketplace, achieve its vision, or if no vision has been articulated, decide where it might go and what it might achieve.
The main effects and interaction at a level of significance : Is there a relationship between the opinion and the location of the resident at a level of significance of 0.05?
How did occupy wall street movement use civil disobedience : How did the Occupy Wall Street Movement (OWS) use civil disobedience to further its cause? Considering the outcomes associated with the OWS Movement, could we claim that the days of effective civil disobedience are over?
The correlation coefficient and coefficient of determination : Explain why it would not be good idea to estimate the fare for this international flight with the regression equation.
What is the new potential difference across the terminals : Describe its motion - When it is far from the others, what is its kinetic energy - How much additional energy was added to the system by the battery?
What is the ideological commitment of lawrence lessig : What is the ideological commitment of Lawrence Lessig and the Creative Commons (CC) licenses as opposed to the values represented in the DMCA? What is the threat to culture by a "read-only world," and how do the CC licenses provided by Lessing addres..
As an ethnographer remain ethical during the interviews : As an ethnographer, remain ethical during the interviews.Inform the interviewees about what you intend to do with their responses and about your resolve to protect their anonymity.Avoid asking questions with yes or no as answers. The point of the int..
The mean square regression (msr) based problems : If you were to do a Backward Elimination based on the p-value of the t-statistic and an alpha to remove of 0.05, would you remove any variable in the first step and if so which one?


Write a Review


Other Subject Questions & Answers

  Magnify a grain of salt-find the next sodium ion

If you could magnify a grain of salt so that the sodium ion was the size of a penny, where would you find the neighboring chloride ion? where would you find the next sodium ion?

  Issue of

Discuss how you would begin redesigning's project management processes to minimize the problems it is experiencing with poor scope management.

  Workers errors used gas-hose producers in strict liability

This is a Re post Two experience welders working inside a barge. A gas hose leading to the welding torch developed a leak that the workers apparently could not smell because of "nasal fatigue" from having inhaled so much gas.

  Social construction of gender

1. What is meant by the "social construction of gender"? Provide a thorough response, using sociological terms and situations. 2. What is feminism? Discuss the first wave, second wave and third wave of feminism. How do feminists address sexism, ins..

  Explain the experience with a consultant

Describe your experience with a consultant, either from your place of employment (current or previous), in the community, or as the consultant yourself.

  What is the role of media in a democratic society

What is the role of media in a democratic society? Analyze the hypothesis that computer technologies have led to major societal changes as well as cultural lag and social resistance.

  Why customer service levels vary internationally

Why must the customer service levels vary internationally? Is it, for instance, ethical to offer the lower customer service level in creating countries than industrialized countries?

  Number of profound questions regarding the nature

There are any number of profound questions regarding the nature, purpose and meaning of life. Why are we here? What can bring meaning and or purpose to our life? How would you answer these questions?

  Authorized representative of fast foods

An authorized representative of Fast Foods, Inc.,approached Beck, an independent grocer, and offered to set him up in a franchisedconvenience store in a town 50 miles away if Beck would pay $280,000. The representative explained that there would be n..

  Finalizenbspwork on the slide presentation updating it

finalizenbspwork on the slide presentation updating it with new information based on all previous feedback. include

  Make part which needs to be made with precision

Each morning a mechanic sets up a machine to make a part which needs to be made with precision. Experience shows that 3 days out of 4 he sets the machine up correctly.

  Describe the plato's perspective regarding the arts

Discuss Plato's Republic, and his reactionary understanding of the ideal state, and how these conclusions regarding the state were shaped by the death of Plato's teacher, Socrates.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd