Mid-Valley Travel Agency (MVTA) has offices in 12 cities. The company believes that its monthly airline bookings

Question:

Mid-Valley Travel Agency (MVTA) has offices in 12 cities. The company believes that its monthly airline bookings are related to the mean income in those cities and has collected the following data:

Location

Bookings

Income


Location

Bookings

Income

1

1,098

43,299


7

855

27,482

2

1,131

45,021


8

1,054

33,025

3

1,120

40,290


9

1,081

34,687

4

1,142

41,893


10

982

28,725

5

971

30,620


11

1,098

37,892

6

1,403

48,105


12

1,387

46,198

a). Develop a linear regression model of monthly airline bookings as a function of income.

b). Use the process described in the chapter to evaluate your results.

c). Make the point and approximate 95 percent confidence interval estimates of monthly airline bookings for another city in which MVTA is considering opening a branch, given that income in that city is $39,020.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  answer-question
Question Posted: