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Correlation matrix: Interpret data for JAX, DFW, LAX models

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See attached files.

Provide a correlation matrix.

Use the data to obtain the 'best' multiple regression model.

Can you please provide a short write-up in Word that interprets your output discussing

- which independent variables are most strongly related to price,
- which are least strongly related to price,
- if the directions of the correlations make sense,
- if there appears to be any multicollinearity,
- your logic in excluding/including independent variables in your 'best' model.

Please include:

An Excel file that shows the data set used, and provides the statistical output or calculations and short interpretations of your output.

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Solution Summary

The correlation matrix and two regressions are computed and explained in everyday language suitable for novices. Data has been reformatted in excel to better run models.

Solution provided by:
Carol Sargent, PhD
Education
  • BSc, University of Virginia
  • MSc, University of Virginia
  • PhD, Georgia State University
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