Resort Attendance Average Temperature Month (in thousands) 1 24 43 41 31 3 32 39 4 30 38 5 38 35
Resort Attendance Average Temperature Month (in thousands) 1 24 43 41 31 3 32 39 4 30 38 5 38 35
Chapter18: Management Of Technology And Innovation
Section18.6: Skills Needed For Mti
Problem 3CC: What forecasting techniques are used in the management of technology and innovation?
Related questions
Question
Happy Lodge Ski Resorts tries to
attendance. Th e management has noticed a direct relationship
between the average monthly temperature and attendance.
(a) Given fi ve months of average monthly temperatures and
corresponding monthly attendance, compute a linear
regression equation of the relationship between the two.
If next month’s average temperature is forecast to be 45
degrees, use your linear regression equation to develop a
forecast.
(b) Compute a correlation coefficient for the data and
determine the strength of the linear relationship between
average temperature and attendance. How good a
predictor is temperature for attendance?
Transcribed Image Text:Resort Attendance
Average
Temperature
Month
(in thousands)
1
24
43
41
31
3
32
39
4
30
38
5
38
35
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