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 $340 12 $265 18 $375 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 Sales = + x guests b) If the forecast is 30 guests next week, the bar sales are expected to be $ (round your response to one decimal place). Week 1 2 3 4
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 $340 12 $265 18 $375 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 Sales = + x guests b) If the forecast is 30 guests next week, the bar sales are expected to be $ (round your response to one decimal place). Week 1 2 3 4
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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