Analyzing Correlation Between Fleet Age and Maintenance Costs

School: Seneca College - Course: IAF 716 - Subject: Accounting

Assignment 3 Hi Stephen., After analyzing the data, I gathered on the average age of the fleet in hours and the respective direct airframe and engine maintenance costs, I found that there is a strong linear relationship between the two variables. In particular, the correlation coefficient between the average fleet age and direct airframe maintenance costs was 0.849, indicating a strong correlation. Similarly, the correlation coefficient between the average fleet age and direct engine maintenance costs was 0.861, also indicating a strong correlation. Attached charted in the assignment 3 excel. Column1Column2Column3Column4Column5 Avg Age per hourAirframme costEngine cost 510713.2918.86 577331.7822.1 651251.843.49 715025.3419.69 736032.1840.43 814525.1531.55 825935.5638.07 840454.9238.58 936432.7832.58 1107769.751.48 1171768.958.72 1327563.7245.47 1521584.7350.26 1839078.7479.6

Heading: Assignment 3 3 airframe maintenance cost per aircraf northernyearxyx^2xyy^2 2003651251.84E+073373222683.2 2004840454.927E+074615483016.2 20051107769.71E+087720674858.1 20061171768.91E+088073014747.2 20071327563.722E+088458834060.2 20081521584.732E+081E+067179.2 20091839078.743E+081E+066200 Southeas t2003510713.293E+0767872176.62 2004814525.157E+07204847632.52 2005736032.185E+072368451035.6 2006577331.783E+071834661010 2007715025.345E+07181181642.12 2008936432.789E+073069521074.5 2009825935.567E+072936901264.5 €135748668.592E+097E+0638580 Column1Column2Column3Column4Column 5 Column 11 Column 20.84891 Column 30.98580.80921 Column 40.96850.93160.9621 Column 50.87820.98420.85290.96251