Coastal Airways, a small regional carrier, has flown the following number of passengers from its hub in Dubuque, Iowa to Bismarck, North Dakota, in each of the past seven weeks.
a. The airline wants you to use the trend method applied to these data to forecast the number of passengers it could expect to fly in weeks 10, 11, and 12.
b. If the ticket price for each passenger on this one-way route is $220, and the airline’s operating expense per passenger