Tasty Bakery is an online company that sells macaron. The owner has developed a model to...
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Tasty Bakery is an online company that sells macaron. The owner has developed a model to predict the sales for the month. She used number of online positive reviews and forecast temperature as the predictors. The following tables show the results of her model: Model R R Square Model Summary Adjusted R Std. Error of the Estimate .779a 0.607 1 Square 0.601 a. Predictors: (Constant), online positive reviews and forecast temperature 13.22887 Coefficients Unstandardized Standardized Coefficients Coefficients B Std Beta Model Error t Sig. 1 (Constant) 96.885 7.294 13.283 .000 Online positive reviews 1.338 293 .186 4.564 .000 Forecast temperature 1.222 .098 .872 12.498 .000 a. Dependent Variable: Sales a) b) What does the Model Summary table tell you? (i.e. explain R, R Square and adjusted R Square) (1.5 marks) With reference to the model above, estimate the sales of Tasty bakery for the coming month if online positive review is 290 and forecast temperature is 35°C. (show your calculations) (1.5 marks) c) Tasty Bakery wishes to have sales of 600. What would be the value of online positive reviews if forecast temperature is 32°C. (show your calculations) (2 marks) Tasty Bakery is an online company that sells macaron. The owner has developed a model to predict the sales for the month. She used number of online positive reviews and forecast temperature as the predictors. The following tables show the results of her model: Model R R Square Model Summary Adjusted R Std. Error of the Estimate .779a 0.607 1 Square 0.601 a. Predictors: (Constant), online positive reviews and forecast temperature 13.22887 Coefficients Unstandardized Standardized Coefficients Coefficients B Std Beta Model Error t Sig. 1 (Constant) 96.885 7.294 13.283 .000 Online positive reviews 1.338 293 .186 4.564 .000 Forecast temperature 1.222 .098 .872 12.498 .000 a. Dependent Variable: Sales a) b) What does the Model Summary table tell you? (i.e. explain R, R Square and adjusted R Square) (1.5 marks) With reference to the model above, estimate the sales of Tasty bakery for the coming month if online positive review is 290 and forecast temperature is 35°C. (show your calculations) (1.5 marks) c) Tasty Bakery wishes to have sales of 600. What would be the value of online positive reviews if forecast temperature is 32°C. (show your calculations) (2 marks)
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a The Model Summary table provides information about the overall performance of the regression model Heres what each metric means R Multiple correlati... View the full answer
Related Book For
Basic Business Statistics Concepts And Applications
ISBN: 9780132168380
12th Edition
Authors: Mark L. Berenson, David M. Levine, Timothy C. Krehbiel
Posted Date:
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