Annotated Outline 2 Annotated Outline I. Abstract A. This paper focuses on the Frontier Airlines industry. B. The company operates in highly dynamic and competitive airline industry. C. The papers will discuss competition and market structures in the industry D. Ethical considerations, leadership, and collaboration aspects will be discussed in detail. II. Introduction A. The Frontier airline company is an American corporation that operates in the transportation industry. B. The company’s headquarters are located in Denver, Colorado. C. Frontier Airlines Company was founded in 1967 and has grown over the years to become a key player in the transportation industry (Park& Seo, 2019). D. Currently, the company is the eighth largest airline in the U.S and operates flights to over one hundred destinations in the U.S (Park& Seo, 2019). E. The company has more than three thousand employees working in different parts of the world. F. The company has a simple organizational structure, which makes it easy to make quick decisions (Park& Seo, 2019). G. This paper aims to discuss competition in the airline industry, market structures, ways in which the Frontier airline can leverage technology to attain competitive advantage and overcome barriers to competition III. Competition in the Airline Industry A. The Frontier airline company faces significant competition from giant companies in the industry (Balliauw et al., 2018). B. New applicants in the market make it difficult for the company to compete effectively (Park &aSeo, 2019). IV. Market structures A. The airline industry has four main structures, including monopoly, oligopoly, perfect competition, and imperfect competition (Balliauw et al., 2018). B. These structures are determined by the changes in the cost of flights (Balliauw et al., 2018). V. Use of technology to attain competitive advantage A. Technology can be used to develop innovative products (Balliauw et al., 2018). B. Technology can be used in the airline industry to provide improved customer services (Balliauw et al., 2018). VI. Overcoming Barriers to competition A. Innovating aggressively (Park &aSeo,a2019). B. Providing training and development programs for employees (Park &aSeo, 2019). VII. Ethical Considerations A. The primary ethical considerations in the airline industry include fairness, honesty, confidentiality and privacy (Ringham & Miles, 2018). B. The ethical standards revolve around avoiding harming people, telling the truth, meeting obligations and taking responsibility (Ringham & Miles, 2018). VIII. Leadership and collaboration A. Effective leaders think big. Leaders in the airline industry must be critical thinkers to solve common problems in the sector (Marson, 2019). B. Leaders in the airline industry must be able to encourage people to collaborate and work as a team. Collaboration is an essential element in effective leadership (Marson, 2019). IX. Recommendations A. The Frontier airline company should innovate aggressively, particularly in creating new customer services to gain a competitive advantage (Marson, 2019). B. The business should offer training and development programs for its leaders to develop the knowledge and skills required for effective leadership (Marson, 2019). X. Conclusion A. The Frontier airline company faces significant competition from giant companies in the industry. B. The company should develop various strategies to attain competitive advantage in the market. C. Training leaders can help them develop skills required for effective leadership. References Balliauw, M., Meersman, H., Onghena, E., & Van de Voorde, E. (2018). U.S. all-cargo carriers’ cost structure and efficiency: A stochastic frontier analysis. Transportation Research Part A: Policy and Practice, 112, 29-45. Retrieved from Marson, N. (2019). Leadership coaching. In Leading by Coaching (pp. ). Palgrave Macmillan, Cham. Retrieved from Park,aA.aH.,a&aSeo,aK.a(2019).aCommonaOwnershipaandaProductaMarketaCompetition:aEvidenceafromatheaU.S.aAirlineaIndustrya 48 (5),a. Retrieved from Ringham, K., & Miles, S. (2018). The frontier of corporate social responsibility reporting: the case of the carrier industry. Journal of Sustainable Tourism, 26(7). Retrieved from ECON 318 Homework 6 Due 11/08 in class Instructor: Yu-Wei Hsieh library(readxl) library(stargazer) library(ggplot2) library(dplyr) Note: (1) Homework should be submitted in pdf/world format generated from RMarkdown (2) Please include your answers, analysis, code, reasoning and the key steps, for instance the tables/plots produced by R. Simply writing down the solution earns 0 point (3) Plagiarism is not accepted. Any similar homework will get zero point. Q1 [15pt] Suppose you want to estimate the seasonal effect on the revenue. There is a constant term included in the regression as usual. How many dummies are needed to perform such analysis? I need 3 dummies for the 4 seasons. Q2 [20pt] Use the data in gpa2 and GPA2_description for this exercise. Q1_data `` -> `..1` ## `` -> `..2` ## `` -> `..3` ## `` -> `..4` ## `` -> `..5` ## … and 7 more colnames(Q1_data) ## (0.001) ## ## sat 0.001 ## (0.0001) ## ## Constant 1.392 ## (0.072) ## ## ----------------------------------------------- ## Observations 4,137 ## R2 0.273 ## Adjusted R2 0.273 ## Residual Std. Error 0.562 (df = 4134) ## F Statistic 777.917 (df = 2; 4134) ## =============================================== ## Note: ppp|t|) ## (Intercept) 1.392e+00 7.154e-02 19.45 ## hsperc -1.352e-02 5.495e-04 -24.60 ## sat 1.476e-03 6.531e-05 22.60 ## --- ## Signif. codes: 0 '' 0.001 '' 0.01 '' 0.05 '.' 0.1 ' ' 1 ## ## Residual standard error: 0.5615 on 4134 degrees of freedom ## Multiple R-squared: 0.2734, Adjusted R-squared: 0.2731 ## F-statistic: 777.9 on 2 and 4134 DF, p-value: ## (0.001) ## ## sat 0.001 ## (0.0001) ## ## Constant 1.436 ## (0.098) ## ## ----------------------------------------------- ## Observations 2,070 ## R2 0.283 ## Adjusted R2 0.282 ## Residual Std. Error 0.539 (df = 2067) ## F Statistic 407.392 (df = 2; 2067) ## =============================================== ## Note: ppp|t|) ## (Intercept) 1.436e+00 9.778e-02 14.69 ## hsperc -1.275e-02 7.185e-04 -17.74 ## sat 1.468e-03 8.858e-05 16.58 ## --- ## Signif. codes: 0 '' 0.001 '' 0.01 '' 0.05 '.' 0.1 ' ' 1 ## ## Residual standard error: 0.5395 on 2067 degrees of freedom ## Multiple R-squared: 0.2827, Adjusted R-squared: 0.282 ## F-statistic: 407.4 on 2 and 2067 DF, p-value: verbmath, data = Q1_data) stargazer(Q1_model3, type = "text") ## ## =============================================== ## Dependent variable: ## --------------------------- ## colgpa ## ----------------------------------------------- ## hsperc -0.013 ## (0.001) ## ## sat 0.002 ## (0.0001) ## ## female 0.143 ## (0.106) ## ## verbmath -0.064 ## (0.084) ## ## female:verbmath 0.011 ## (0.118) ## ## Constant 1.243 ## (0.102) ## ## ----------------------------------------------- ## Observations 4,137 ## R2 0.285 ## Adjusted R2 0.285 ## Residual Std. Error 0.557 (df = 4131) ## F Statistic 330.074 (df = 5; 4131) ## =============================================== ## Note: pp*p