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

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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 Develop a linear regression model of monthly airline bookings as a function of income, and answer the following questions. Make the point estimate of monthly airline bookings for another city in which MVTA is considering opening a branch, given that income in that city is $39,020. 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 Develop a linear regression model of monthly airline bookings as a function of income, and answer the following questions. Make the point estimate of monthly airline bookings for another city in which MVTA is considering opening a branch, given that income in that city is $39,020.

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Linear Regression Model for Airline Bookings We can use the provided data to develop a linear regres... View the full answer