The following data relate the sales figures of the bar in Mark Kaltenbach's small bed-and-breakfast inn in Portland, to the number of guests registered that week: Week Guests 16 Bar Sales $320 2 12 $265 3 18 $375 4 14 $300 a) The simple linear regression equation that relates bar sales to number of guests (not to time) is (round your responses to one decimal place): Bar Sales =+x guests b) If the forecast is 24 guests next week, the bar sales are expected to be $ (round your response to one decimal place).
The following data relate the sales figures of the bar in Mark Kaltenbach's small bed-and-breakfast inn in Portland, to the number of guests registered that week: Week Guests 16 Bar Sales $320 2 12 $265 3 18 $375 4 14 $300 a) The simple linear regression equation that relates bar sales to number of guests (not to time) is (round your responses to one decimal place): Bar Sales =+x guests b) If the forecast is 24 guests next week, the bar sales are expected to be $ (round your response to one decimal place).
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section: Chapter Questions
Problem 33P: Management of a home appliance store would like to understand the growth pattern of the monthly...
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Can you assit me with this problem 9 by showing me the process step by step. I prefer it not be in the form of an excel sheet because it is hard to follow along. Thank you kindly
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