Total Jobs vs Logan Passengers:
There is a positive relationship between the number of passengers at Logan Airport and the total number of jobs. The R-Squared value is approximately 0.729, suggesting that about 72.9% of the variability in total jobs can be explained by the number of Logan passengers. The p-value is extremely low (approximately 3.57×10-15), indicating a statistically significant relationship.
Total Jobs vs Logan International Flights:
Similarly, the number of international flights has a positive correlation with the total number of jobs. The R-Squared value is 0.764, meaning that approximately 76.4% of the variability in total jobs is accounted for by the number of international flights. The p-value is very small (around 3.04×10-17), which implies a statistically significant relationship.
Total Jobs vs Hotel Occupancy Rate:
The relationship between hotel occupancy rates and total jobs is weaker compared to the previous two variables. The R-Squared value is about 0.142, indicating that only 14.2% of the variability in total jobs is explained by the hotel occupancy rate. The p-value is approximately 0.197, which is above the typical significance level of 0.05, suggesting that the relationship might not be statistically significant.
Total Jobs vs Hotel Average Daily Rate:
There is a moderate positive relationship between the average daily rate of hotels and total jobs. The R-Squared value is 0.313, which means that about 31.3% of the variability in total jobs can be explained by the hotel average daily rate. The p-value is approximately 0.0038, indicating a statistically significant relationship at common significance levels.
Total Jobs vs Unemployment Rate:
There is a strong negative relationship between the unemployment rate and the total number of jobs, which is intuitive as higher unemployment would typically be associated with fewer jobs. The R-Squared value is about 0.872, suggesting that 87.2% of the variability in total jobs can be explained by the unemployment rate. The p-value is extremely low (around 4.10 x 10-27), indicating a very strong statistically significant relationship.