Shortly after being hired as an analyst with Global American Airlines, Kim Williams was asked to…

Shortly after being hired as an analyst with Global American
Airlines, Kim Williams was asked to prepare a report that focused
on passenger ticketing cost. The airline writes most of its own
tickets (largely through reservations personnel), makes little use
of travel agents, and has seen an ever-increasing passenger
interest in e-ticketing (i.e., electronic reservations and tickets
handled over the Internet).
After some discussion, Williams thought it would be beneficial
to begin her report with an overview of three different cost
estimation tools: scatter diagrams, least-squares regression, and
the high-low method. She would then present the results of her
analysis of the past years monthly ticketing cost, which was
driven largely by the number of tickets written. These results
would be presented in the form of algebraic equations that were
derived by the three tools just cited. The equations follow.
(C denotes ticketing cost, and PT denotes number
of passenger tickets written.)
Scatter diagram: C = $320,000 + $2.15PT
Least-squares regression: C = $312,000 + $2.30PT
High-low method: C = $295,000 + $2.55PT
Williams had analyzed data over the past 12 months and built
equations on these data, purposely including the slowest month of
the year (February) and the busiest month (November) so that things
would tend to average out. She observed that November was
especially busy because of Thanksgiving, passengers purchasing
tickets for upcoming holiday travel in December, and the effects of
a strike by Delta Western Airlines, Global Americans chief
competitor. The lengthy strike resulted in many of Delta Westerns
passengers being rerouted on Global American flights.
Required:
Assuming the use of least-squares regression, explain what the
$312,000 and $2.30 figures represent.
Assuming the use of a scatter diagram, predict the cost of an
upcoming month when Global American expects to write 580,000
tickets.
Complete this question by entering your answers in the
tabs below.
Required 3
Required 4
Assuming the use of least-squares regression, explain what the
$312,000 and $2.30 figures represent.

The amount $312,000 represents
the

of ticketing operation.

The amount $2.30 represents
the

per ticket.

Assuming the use of a scatter diagram, predict the cost of an
upcoming month when Global American expects to write 580,000
tickets.

Cost

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