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Regression analysis

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How is the cost of a plane flight related to the length of the trip? The following table shows the average round-trip airfare paid by American Airline customers on each of 18 heavily traveled US air routes in 1996.
Route Distance (miles) Cost (US $)
Dallas-Austin 178 125
Houston-Dallas 232 123
Chicago-Detroit 238 148
Chicago-St. Louis 262 136
Chicago Cleveland 301 129
Chicago-Atlanta 593 162
New York-Miami 1092 224
New York-San Juan 1608 264
New York-Chicago 714 287
Chicago-Denver 901 256
Dallas-Salt Lake City 1005 356
New York-Dallas 1374 459
Chicago-Seattle 1736 424
LA-Chicago 1757 361
LA-Atlanta 1946 309
New York-LA 2463 444
LA-Honolulu 2556 323
New York-San Francisco 2574 513
Construct a linear regression model and conduct a global usefulness analysis based on the computer printout.

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Solution Summary

Step by step method for regression analysis is discussed here. Regression coefficients, coefficient of determination, scatter diagram and significance of regression model are explained in the solution.

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