Airline ticket price fluctuations and revenue management strategies

(i) Explain which routes, airlines and flights you chose to collect data for and the reasons for doing so. Identify any situation where the data collected was outside the norm such as sold out flights etc. (ii) Present the data using clear and appropriate graphical methods. Price fluctuations with time should be clear. (iii) Apply statistical analysis to identify any trends and correlations in the fluctuations. You may want to consider time series analysis to identify patterns. It is important that any statistical method and calculation used is clearly described. (iv) Compare and discuss the ticket price trends between different routes and airlines and suggest possible reasons for the trends. Can you identify the best time to buy a ticket? Is it possible to forecast the fluctuations for similar flights? The submitted assignment should be structured as a technical report and must be between 2000-2250 words. You should include a word count at the end of your assignment. You may use diagrams wherever appropriate to clarify your explanations