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Table 4 Description of variables used in the modelling
Variable | Type | Expected impact | Included in models | Represents |
|---|---|---|---|---|
CRR | Continuous | Dependent variable | OLS1, OLS2, RE | Revenue impact |
APL | Continuous | Positive | OLS1, OLS2, RE | Performance |
S15 | Continuous | Positive | OLS1, OLS2, RE | Performance |
Average fare | Continuous | Positive | OLS2 | Ticket prices |
Long distance | Categorical, binary | Positive | OLS1,RE | Ticket prices |
LSE | Categorical, binary | Positive or neutral | OLS1, OLS2, RE | Delay sensitivity |
LNER 2019 | Categorical, binary | Positive | OLS1, OLS2, RE | Outlier |
2017, 2018, 2019 | Categorical, binary | Positive or neutral | OLS1, OLS2, RE | Changes in the scheme |