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: Guests Bar Sales 16 $320 12 $275 18 $390 $320 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-quests b) If the forecast is 20 guests next week, the bar sales are expected to be $ (round your response to one decimal place). Week
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: Guests Bar Sales 16 $320 12 $275 18 $390 $320 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-quests b) If the forecast is 20 guests next week, the bar sales are expected to be $ (round your response to one decimal place). Week
Practical Management Science
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ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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![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
Bar Sales
16
$320
$275
6268
12
18
$390
14
$320
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 Salesx guests
b) If the forecast is 20 guests next week, the bar sales are expected to be $ (round your response to one decimal place).](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7fc1f16b-a39f-4721-a2c7-984774995f11%2F0e95b739-50c2-41ed-8f91-75dfe24f7bcb%2F3kqqjbs_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
Bar Sales
16
$320
$275
6268
12
18
$390
14
$320
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 Salesx guests
b) If the forecast is 20 guests next week, the bar sales are expected to be $ (round your response to one decimal place).
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