Instrumental variables estimationIn statistics, econometrics, epidemiology and related disciplines, the method of instrumental variables (IV) is used to estimate causal relationships when controlled experiments are not feasible or when a treatment is not successfully delivered to every unit in a randomized experiment. Intuitively, IVs are used when an explanatory variable of interest is correlated with the error term, in which case ordinary least squares and ANOVA give biased results.
Ordered logitIn statistics, the ordered logit model (also ordered logistic regression or proportional odds model) is an ordinal regression model—that is, a regression model for ordinal dependent variables—first considered by Peter McCullagh. For example, if one question on a survey is to be answered by a choice among "poor", "fair", "good", "very good" and "excellent", and the purpose of the analysis is to see how well that response can be predicted by the responses to other questions, some of which may be quantitative, then ordered logistic regression may be used.
Regional airlineA regional airline is a general classification of airline which typically operates scheduled passenger air service, using regional aircraft, between communities lacking sufficient demand or infrastructure to attract mainline flights. In North America, most regional airlines are classified as "fee-for-departure" carriers, operating their revenue flights as codeshare services contracted by one or more major airline partners. A number of regional airlines, particularly during the 1960s and 1970s, were classified as commuter airlines in the Official Airline Guide (OAG).
Money supplyIn macroeconomics, the money supply (or money stock) refers to the total volume of currency held by the public at a particular point in time. There are several ways to define "money", but standard measures usually include currency in circulation (i.e. physical cash) and demand deposits (depositors' easily accessed assets on the books of financial institutions). The central bank of a country may use a definition of what constitutes legal tender for its purposes.
Southwest AirlinesSouthwest Airlines Co. is an airline based in the United States and the world's largest low-cost carrier. It is headquartered in Dallas, Texas, and has scheduled service to 121 destinations in the United States and 10 additional countries. , Southwest carried more domestic passengers than any other United States airline. It is currently the third largest airline in North America based on passengers flown. The airline was established on March 9, 1967, by Herb Kelleher and Rollin King as Air Southwest Co.
Low-cost carrierA low-cost carrier or low-cost airline (occasionally referred to as no-frills, budget or discount carrier or airline, and abbreviated as LCC) is an airline that is operated with an especially high emphasis on minimizing operating costs and without some of the traditional services and amenities provided in the fare, resulting in lower fares and fewer comforts. To make up for revenue lost in decreased ticket prices, the airline may charge extra fees – such as for carry-on baggage.
PlanningPlanning is the process of thinking regarding the activities required to achieve a desired goal. Planning is based on foresight, the fundamental capacity for mental time travel. The evolution of forethought, the capacity to think ahead, is considered to have been a prime mover in human evolution. Planning is a fundamental property of intelligent behavior. It involves the use of logic and imagination to visualise not only a desired end result, but the steps necessary to achieve that result.
Marginal revenueMarginal revenue (or marginal benefit) is a central concept in microeconomics that describes the additional total revenue generated by increasing product sales by 1 unit. Marginal revenue is the increase in revenue from the sale of one additional unit of product, i.e., the revenue from the sale of the last unit of product. It can be positive or negative. Marginal revenue is an important concept in vendor analysis.
Flight attendantA flight attendant, traditionally known as a steward ( ()) or stewardess ( ()); or air host ( ()) or hostess ( ()), is a member of the aircrew aboard commercial flights, many business jets and some government aircraft. Collectively called cabin crew, flight attendants are primarily responsible for passenger safety and comfort. The role of a flight attendant derives from that of similar positions on passenger ships or passenger trains, but it has more direct involvement with passengers because of the confined quarters on aircraft.
MicroeconomicsMicroeconomics is a branch of mainstream economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms. Microeconomics focuses on the study of individual markets, sectors, or industries as opposed to the national economy as whole, which is studied in macroeconomics. One goal of microeconomics is to analyze the market mechanisms that establish relative prices among goods and services and allocate limited resources among alternative uses.
