Sales = Total revenue based on number of tickets sold ($’000)
Promote = Amount spent on promoting the airline in the area ($’000)
Comp = Number of competing airlines at the terminal
Free = The percentage of passengers who flew free (for various reasons)
Use the additional following table to answer part a.
SALES ($'000) | PROMOTE ($'000) | COMP | FREE |
79.3 | 2.5 | 10 | 3 |
200.1 | 5.5 | 8 | 6 |
163.2 | 6 | 12 | 9 |
200.1 | 7.9 | 7 | 16 |
146.0 | 5.2 | 8 | 15 |
177.7 | 7.6 | 12 | 9 |
30.9 | 2.0 | 12 | 8 |
291.9 | 9.0 | 5 | 10 |
160.0 | 4.0 | 8 | 4 |
339.4 | 9.6 | 5 | 16 |
159.6 | 5.5 | 11 | 7 |
86.3 | 3.0 | 12 | 6 |
237.5 | 6.0 | 6 | 10 |
107.2 | 5.0 | 10 | 4 |
155.0 | 3.5 | 10 | 4 |
Minitab > Stat > Regression > Regression > Fit regression model
For CI and PI
After regression output, again stat > regression > regression > Predict
The airline intends to spend $6,500 on promotion, expects 7 competitors, and expects 11% of the passengers to fly free
After submitting value in equation,
Sales = 214.899 or 214.9
95% CI = (194.014, 235.785)
95% PI = (151.111, 278.687)
Minitab > Stat > Regression > Regression > Fit regression model
For CI and PI
After regression output, again stat > regression > regression > Predict
The airline intends to spend $6,500 on promotion, expects 7 competitors, and expects 11% of the passengers to fly free
After submitting value in equation,
Sales = 214.899 or 214.9
95% CI = (194.014, 235.785)
95% PI = (151.111, 278.687)
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