Question 1199390: 9. Eight (8) tourists were asked about the airfare expenses and their total budgeted amount in their last travel/holiday.
Air fare (in $) 200 300 250 100 150 170 180 230
Total Budget (in $) 2500 2800 2100 1200 1800 1900 2000 2700
a). Draw the scatter plot and the line of best fit. What is the expected budget for an individual of this group if the airfare to a certain city of her choice is $220? And what is the expected airfare if her budget is $3,000?
b). Determine if there is a correlation between the two variables with the assumption that all travel costs are determined by the travellers’ economic status. Describe the correlation strength, provide your conclusion, and practical recommendations for the airline industry.
Answer by ikleyn(52932)   (Show Source):
You can put this solution on YOUR website! .
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9. Eight (8) tourists were asked about the airfare expenses
and their total budgeted amount in their last travel/holiday.
Air fare (in $) 200 300 250 100 150 170 180 230
Total Budget (in $) 2500 2800 2100 1200 1800 1900 2000 2700
a). Draw the scatter plot and the line of best fit. What is the expected budget
for an individual of this group if the airfare to a certain city of her choice
is $220? And what is the expected airfare if her budget is $3,000?
b). Determine if there is a correlation between the two variables with the
assumption that all travel costs are determined by the travellers’ economic
status. Describe the correlation strength, provide your conclusion, and
practical recommendations for the airline industry.
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