Question: Consider the following single variate model (1) fare Bo+Bdist + u Question 1 What is the best interpretation of B (no hat). 2 pts

Consider the following single variate model (1) fare Bo+Bdist + u Question 1 What is the best interpretation of B (no hat). 2 pts

Consider the following single variate model (1) fare Bo+Bdist + u Question 1 What is the best interpretation of B (no hat). 2 pts Question 2 2 pts What is 61 hat? Question 3 2 pts How much is the expected price increase if a flight were to increase by 100 miles?

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