a. Explanation Calculation: In this given problem, comfort ( x 1 ) , amenities ( x 2 ) , in-house dining ( x 3 ) are the independent variables, and the overall score is the dependent variable ( y ) Step-by-step procedure to obtain the estimated regression equation using EXCEL is defined as follows: In EXCEL sheet, enter Overall , Comfort , Amenities , and In-House Dining in columns A , B , C , and D , respectively. In Data , select Data Analysis and choose Regression b. To determine Perform t -test to determine the significance of each independent variable at 0.01 level of significance. c. To determine Find an estimated regression equation that can be used to predict the overall score after eliminating the non-significant variables.

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN: 9781305627734

Author: Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher: Cengage Learning

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Question

Chapter 7, Problem 10P

To determine

Find an estimated regression equation that can be used to predict the overall score given the scores for comfort, amenities, and in-house dining.

To determine

Perform t-test to determine the significance of each independent variable at 0.01 level of significance.

To determine

Find an estimated regression equation that can be used to predict the overall score after eliminating the non-significant variables.

Expert Solution & Answer

Chapter 7 Solutions

Essentials of Business Analytics (MindTap Course List)

Ch. 7 - Bicycling World, a magazine devoted to cycling,...Ch. 7 - In a manufacturing process the assembly line speed...Ch. 7 - Jensen Tire Auto is deciding whether to purchase...Ch. 7 - A sociologist was hired by a large city hospital...Ch. 7 - The regional transit authority for a major...Ch. 7 - A marketing professor at Givens College is...Ch. 7 - The Dow Jones Industrial Average (DJIA) and the...Ch. 7 - The Toyota Camry is one of the best-selling cars...Ch. 7 - Dixie Showtime Movie Theaters, Inc., owns and...Ch. 7 - Prob. 10P

Ch. 7 - The American Association of Individual Investors...Ch. 7 - The National Football League (NFL) records a...Ch. 7 - Johnson Filtration. Inc., provides maintenance...Ch. 7 - A study investigated the relationship between...Ch. 7 - The U.S. Department of Energys Fuel Economy Guide...Ch. 7 - A highway department is studying the relationship...Ch. 7 - A sample containing years to maturity and...Ch. 7 - In 2011, home prices and mortgage rates fell so...Ch. 7 - A recent 10-year study conducted by a research...Ch. 7 - The Scholastic Aptitude Test (or SAT) is a...Ch. 7 - Consider again the example introduced in Section...Ch. 7 - Alumni donations are an important source of...

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