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Ordinary Least Squares (OLS). OLS is a methodrelating passenger traffic to air travel prices,income levels and other variables, while minimisingthe variance (randomness) of the estimates. Theregression analysis allows the relationship betweentraffic and air travel prices to be isolated andquantified while controlling for other factors that mayimpact air travel, such as GDP, population levels, routedistance and seasonality.
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