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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 16 Bar Sales $340 2 12 $275 3 18 $375 4 14 $315 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 =D+O×guests b) If the forecast is 20 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 $340 2 12 $275 3 18 $375 4 14 $315 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 =D+O×guests b) If the forecast is 20 guests next week, the bar sales are expected to be $ (round your response to one decimal place).

Practical Management Science
Practical Management Science
6th Edition
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 Bar Sales $340 Guests 1 16 2 12 $275 3 18 $375 14 $315 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 =O+0xguests b) If the forecast is 20 guests next week, the bar sales are expected to be SO (round your response to one decimal place).
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 Bar Sales $340 Guests 1 16 2 12 $275 3 18 $375 14 $315 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 =O+0xguests b) If the forecast is 20 guests next week, the bar sales are expected to be SO (round your response to one decimal place).
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