What would be two/three good variables to look at for creating a linear regression model?

#1
Here is a sample of the data that I am working with (some data has been masked):

Code:
Location Name | Vehicle Type | Date Start       | Time Start          | Date End         | Time End            | Payment Amount| Total Duration Parked Inside of bay's   Operational Hours (minutes) | Total Duration Parked Inside of bay (minutes) |
+---------------+--------------+------------------+---------------------+------------------+---------------------+----------------------+----------------------------------------------------------------------+---------------------------------------------------------------------+
| Crescent Road | Car          | 29/08/2021 21:05 | 1899-12-30 21:05:00 | 31/08/2021 14:00 | 1899-12-30 14:00:00 | £6.60                | 930                                                                  | 2455                                                                |
+---------------+--------------+------------------+---------------------+------------------+---------------------+----------------------+----------------------------------------------------------------------+---------------------------------------------------------------------+
| Plymouth Road | Car          | 29/08/2021 20:33 | 1899-12-30 20:33:00 | 29/08/2021 21:33 | 1899-12-30 21:33:00 | £2.00                | 27                                                                   | 60                                                                  |
+---------------+--------------+------------------+---------------------+------------------+---------------------+----------------------+----------------------------------------------------------------------+---------------------------------------------------------------------+
| Gerard Road   | Car          | 29/08/2021 19:56 | 1899-12-30 19:56:00 | 29/08/2021 21:56 | 1899-12-30 21:56:00 | £4.00                | 64                                                                   | 120                                                                 |
+---------------+--------------+------------------+---------------------+------------------+---------------------+----------------------+----------------------------------------------------------------------+---------------------------------------------------------------------+
| Crescent Road | Car          | 29/08/2021 19:33 | 1899-12-30 19:33:00 | 29/08/2021 20:33 | 1899-12-30 20:33:00 | £2.00                | 60                                                                   | 60                                                                  |
+---------------+--------------+------------------+---------------------+------------------+---------------------+----------------------+----------------------------------------------------------------------+---------------------------------------------------------------------+
| Plymouth Road | Car          | 29/08/2021 19:13 | 1899-12-30 19:13:00 | 29/08/2021 20:13 | 1899-12-30 20:13:00 | £2.10                | 60                                                                   | 60                                                                  |
+---------------+--------------+------------------+---------------------+------------------+---------------------+----------------------+----------------------------------------------------------------------+---------------------------------------------------------------------+
| Gerard Road   | Motorbike    | 29/08/2021 19:05 | 1899-12-30 19:05:00 | 29/08/2021 20:05 | 1899-12-30 20:05:00 | £2.00                | 60                                                                   | 60                                                                  |
+---------------+--------------+------------------+---------------------+------------------+---------------------+----------------------+----------------------------------------------------------------------+---------------------------------------------------------------------+
| Crescent Road | Car          | 29/08/2021 19:03 | 1899-12-30 19:03:00 | 31/08/2021 12:30 | 1899-12-30 12:30:00 | £11.20               | 840                                                                  | 2487                                                                |
+---------------+--------------+------------------+---------------------+------------------+---------------------+----------------------+----------------------------------------------------------------------+---------------------------------------------------------------------+
| Plymouth Road | Car          | 29/08/2021 18:54 | 1899-12-30 18:54:00 | 29/08/2021 21:54 | 1899-12-30 21:54:00 | £6.10                | 126                                                                  | 180                                                                 |
+---------------+--------------+------------------+---------------------+------------------+---------------------+----------------------+----------------------------------------------------------------------+---------------------------------------------------------------------+
| Gerard Road   | Car          | 29/08/2021 18:53 | 1899-12-30 18:53:00 | 29/08/2021 20:53 | 1899-12-30 20:53:00 | £4.00                | 120                                                                  | 120                                                                 |
+---------------+--------------+------------------+---------------------+------------------+---------------------+----------------------+----------------------------------------------------------------------+---------------------------------------------------------------------+
| Crescent Road | Lorry        | 29/08/2021 18:49 | 1899-12-30 18:49:00 | 29/08/2021 19:49 | 1899-12-30 19:49:00 | £2.10                | 60                                                                   | 60                                                                  |
+---------------+--------------+------------------+---------------------+------------------+---------------------+----------------------+----------------------------------------------------------------------+---------------------------------------------------------------------+
| Plymouth Road | Car          | 29/08/2021 18:45 | 1899-12-30 18:45:00 | 29/08/2021 20:45 | 1899-12-30 20:45:00 | £4.00                | 120                                                                  | 120                                                                 |
+---------------+--------------+------------------+---------------------+------------------+---------------------+----------------------+----------------------------------------------------------------------+---------------------------------------------------------------------+
| Gerard Road   | Car          | 29/08/2021 18:39 | 1899-12-30 18:39:00 | 29/08/2021 19:39 | 1899-12-30 19:39:00 | £2.20                | 60                                                                   | 60                                                                  |
+---------------+--------------+------------------+---------------------+------------------+---------------------+----------------------+----------------------------------------------------------------------+---------------------------------------------------------------------+
| Crescent Road | Car          | 29/08/2021 18:38 | 1899-12-30 18:38:00 | 29/08/2021 19:38 | 1899-12-30 19:38:00 | £2.10                | 60                                                                   | 60                                                                  |
+---------------+--------------+------------------+---------------------+------------------+---------------------+----------------------+----------------------------------------------------------------------+---------------------------------------------------------------------+
| Plymouth Road | Car          | 29/08/2021 18:33 | 1899-12-30 18:33:00 | 29/08/2021 19:33 | 1899-12-30 19:33:00 | £2.00                | 60                                                                   | 60                                                                  |
+---------------+--------------+------------------+---------------------+------------------+---------------------+----------------------+----------------------------------------------------------------------+---------------------------------------------------------------------+
I need to create a linear regression model and then calculate the correlation coefficient. I've been asked to find variables that would determine an R value close to 1 or -1. I was initially going to use 'Week Number' and 'Total Amount'. 'Week number' being the independent variable and 'Total amount charged for parking' being the dependent variable however I was informed that time would not be suitable for something like this. I don't have a strong statistical background so I was hoping someone here could perhaps help give some direction.

I tried to create a linear regression model using Total Amount and Week Number. I got an R value of `0.7934979959422644`. Is this a good and acceptable correlation?. Can I use weeks?.

Thanks in advance,
 
Last edited:
#3
Is it acceptable to plot Weeks (week of the year) against Total Amount and calculate R?. The reason I ask is because my college instructor said to me when working with time this is not a suitable analysis. She said this should be done with time-forecasting instead.