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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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