Rent-a-car project | Numerical analysis homework help - Vintage-paper.com

Rent-A-Car Project Datasets and description for the case assignments: 1. In this project, you are required estimate the demand for “economy” vehicles using the variables provided. The dependent variable is QE_Y and there are 11 independent variables (X1 to X11) 2. Identify the relationship between the dependent variable (Y) and each of the independent variables (X). For example, the relationship between variable QE_Y and variable PownL_X2 is positive. Economy vehicles and Luxury vehicles are substitute. If the rate of luxury vehicles (and PownL_X2) rises, the quantity demanded for economy vehicles (QE_Y) increases. 3. Using Excel or any other statistical software to run regression analysis and estimate the coefficients of each independent variable X. Your model should look like the following: QE_Y = constant (or intercept) a1X1 a2X2 a3X3 a4X4 a5X5 a6X6 a7X7 a8X8 a9X9 a10X10 a11X11 a12X12 4. Compute elasticities for PownE_X1, PownL_X2, and pcomp_X3 for week 30. 5. What other factors besides price might be included in this equation? Do you foresee any difficulty in obtaining these additional data or incorporating them in the regression analysis? 6. What proportion of the variation in the dependent variable is explained by the independent variables in the equations? Rent-A-Car: Description of the variables in the data set Variable Type Variable Name Variable Explanation Dependent variable QE_Y Number of rental contracts initiated each week in the economy category Independent variable PownE_X1 Average daily rate Rent-A-Car charged for its economy cars in a given week Independent variable PownL_X2 Average daily rate Rent-A-Car charged for its luxury vehicles in a given week Independent variable Pcomp_X3 Average daily rate of the only competitor across all vehicle categories Independent variable Session_X4 Binary variable with 1 indicating weeks when college is in session Independent variable Weather_X5 Number of days in a week with severe weather Independent variable Unemployment_X6 Number of unemployed workers in the county as of Tuesday each week Independent variable FlghtWk_X7 Number of flights (in- and outbound) serving the local airport that week Independent variable CancWk_X8 Total number of flights cancelled that week Independent variable Holiday_X9 Binary variable with 1 indicating weeks of national holidays (long weekends) Independent variable Wrecks_x10 Number of major accidents that week Independent variable TotalAd_X11 Amount spent on local advertising each week Independent variable FleetAge_X12 Average age of our fleet measured in weeks

Rent-a-car project | Numerical analysis homework help

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