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The second step in the process of projecting registered aircraft was of a judgmental <br />nature. Each of the projections was examined in the context of possible impacts of <br />improved facilities and service, as well as the relationship between regional and national <br />trends. Consideration of these factors, combined with previous experience concerning <br />reliever system projections, led to a subjective determination as to the validity of various <br />projections. The selected projections, as a result, contain all the desired features of <br />objective and subjective analyses. <br />Of the four independent projection methodologies, two utilize one basic analytical <br />tool, regression analysis. The term regression analysis refers to the statistical technique by <br />which estimates are made of the values of dependent variables based on knowledge of the <br />values of one or more other variables, called independent variables. <br />For the socioeconomic regression in this analysis, the. dependent variable was the <br />appropriate airport activity figure, such as registered aircraft, while the independent variable • <br />was a socioeconomic factor, such as population. The historical trend analysis fitted historical <br />data to classical growth curves and extended the demand element into future periods by <br />regression analysis. The procedure for this analysis resembled the socioeconomic regression, <br />except that time was substituted as the independent variable. The most common growth <br />curves are in the form of linear, exponential, or logarithmic equations. For this study, the <br />equational form of the projection line most often developed was lineaz. <br />To measure the relationship between dependent and independent variables in both <br />the regression and the trend analysis, the coefficient of determination (R~ and the standazd <br />error of the estimate (y) were used. The R' statistic indicates whether the given <br />independent variable might be related to the dependent variable. It does so by quantifying <br />the percentage of the dependent variable's variation about its arithmetic mean that is <br />explained by the model. For instance, an R' of 0.80 indicates that 80 percent of the variance <br />that existed around the dependent variable's mean has now been explained by examining <br />the variance around the regression line (i.e., only 20 percent of the variance that once <br />existed still exists). The socioeconomic regression and historical trend analysis <br />II-3 <br />
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