2. The following is a regression model: Leadfare,-A, + ?¡Distance, + ?2Passenger

Question

2. The following is a regression model: Leadfare,-A, + ?¡Distance, + ?2Passengers, + ?:Marketshare, + 11 The data used to estimate this model consists of information from 1,000 commercial airline routes in the year 2002. The variables included are as follows: The fare charged by the leading airline for a particular route measured in Leadfaredollars. DistanceThe distance of the flight in miles. PassengersThe average number of passengers per week that fly on this route. The percentage share of the market captured by this leading airline. A one unit increase in this variable means the airline flies 1% more of the total market. Here are the results of the regression, with a few pieces of information missing. Source df MS Number of obs 1000 E8.910 Prob > F R-squared-11 Adj R-squared12 Root MSE Model1287764.071 Residus 2634602.8 3 2 - 0.0000 Total 5 6 7 - 14 leadfare Coef.Std. Er [95% Conf. Interval] 0659174 17 5324314 0599907 15 0.000 passenger.0031409 0021518-1.46 0.145 3.36 0.001 9.79 0.000 distance 054064 16 3359568 19 18 8.702016 marketshare .1394822 322 i)Complete the following table by computing the above missing values from the table. You don't need any data to do this. You can see the information in the above table and calculate this. (8 points)

Explanation / Answer

From the gvien data

and also

Results:

ANOVA Table Source Sum of Square df Mean Square Regression 1287764.07 3 429254.69 Residuals 2634602.8 996 2645.1835 Total 3922366.87 999 431899.8735

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