1. INTRODUCTION
In this paper we consider the basic techniques of statistical analysis and probability theory regarding to a real-world problem.
This report aims to build a demand function for quantity of travel in Ruritarnia, (using data set for Ruritania 1985 to 2014). We are interested in the factors which have a significant effect on the quantity of travel demanded. For this purpose we adopt a traditional Marshallian demand function Qd1 = f(p1,p2,Y). This implies that the quantity demand for any good is a function of its price, the price of other goods, and the income level. That’s why the goal of the analysis is to understand the character of association between the quantity of Continue reading...