Distance Travelled by Tourists-an Econometric Approach

Distance Travelled by Vacationers 1. Introduction The summer blend in flavor is a extremity of time that most great deal olfactory sensation forward to, and many entrust wont this opportunity to expedition to a tourist location or holiday home. legion(predicate) goods and services sectors, and tourist locations volition rely on this period for the majority of their revenues. Consequently, an understanding of the factors that influence the behavior of holidaymakers pass on be of great use to the marketing efforts of companies, and tourist locations. The prey of this engagement is to project some of the factors that will influence the quad holiday makers run short when vacationing. The OLS ensample I have established will determine whether a holidaymakers age, income level and imagine of children will influence the distance(miles) they travel when departure on vacation, and if so to what extent. The information set was obtained from the University of Daytona, and was part of an assignment for an Economics assembly line in 2006 by Prof. Dr. Gustafson. The data consists of 200 observations of individuals from pelf who went on a summer holiday. The analysis starts with an investigation of the descriptive statistics for the data set, and is followed by the results of both the initial OLS regression model, and the altered model adjusted to HAC errors.

An analysis of the assumptions of a CLRM follows, after which an rendition is do of the results of the model. The analysis then proceeds with a Wald shield to examine the last two regressors of the model, after which the results are concluded. 2. descriptive Statistics The data consists of 200 observations of holida! ymakers from Chicago, and relates the individuals income (measured in US $), age, and number of children to the miles they travel when going on a summer holiday. Table 1 provides the mean, median, maximum, marginal and standard deviation for the data. Firstly, the mean income level of $ 63,925 is 44% high than the average income of $ 44,344 in...If you want to get a extensive essay, orderliness it on our website: OrderEssay.net

If you want to get a full information about our service, visit our page: write my essay