1. ( 10 points] The following questions are based on airline data collected from routes in the U.S.

| November 24, 2016

Question
1. ( 10 points] The following questions are based on airline data collected from routes in the U.S. for year 2000 You are interested in examining the determinants of ticket prices.

You decide to generate a scatter diagram to visually assess if the average one-way fare for a route related to the distance of that route.

for figure refer attacment

Based on this scatter diagram, would OLS be BLUE if we ran a regression of the average one-way fare fora route on the distance of that route? Explain why or why not and if this would affect any estimated coefficients.

5 you wish to predict the sale price of single family residences…..
refer attachment for complete question

D. (16 points) After running the regression. y0u discover that both bedroom, and bathroom, are
statistically insignificant at the a = 1 level. What problem might there be with your equationthat could explain this occurring5 How could you fix this p’oblem and how else could you testfor the statistical significance of bedrooms and bathrooms’

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