Question
1. Water parks make money by charging admission fees, but they also earn revenue through different factors (e.g., number of visitors, food and beverages sale,
1. Water parks make money by charging admission fees, but they also earn revenue through different factors (e.g., number of visitors, food and beverages sale, number of hours working, etc.). Parks may also charge fees for using additional facilities or attractions. To identify the key variables (X) that impact the revenue (Y), a water park manager conducted a survey and collected a sample of 60 days of revenue. Refer to the Excel file, Problem Three data. Help this manager and conduct a full regression analysis, including: a. Determine the sample regression line and interpret the coefficients. b. Does the data allow us to infer that there is a linear relationship between the revenue (Y) and the independent variables (Xs)- Linear Test? c. What can you say about the validity of the multiple regression model- Validity Test? d. What does the value of standard error tell you? e. Interpret the coefficient of determination. f. With 95% confidence, what are the upper confidence level and lower confidence level of independent variables (Xs)? g. Develop five scatter plots for Y and Xs.
Revenue ($) | Number of Visitors | Food and Beverages Sale ($) | Number of Hours Working | Number of Available Equipments | Tempreture (F) |
297,648 | 301 | 63,836 | 8 | 13 | 89.6 |
304,870 | 305 | 69,232 | 10 | 13 | 89.6 |
310,752 | 271 | 63,244 | 10 | 12 | 89.6 |
312,612 | 317 | 60,476 | 10 | 12 | 91.4 |
319,928 | 305 | 63,937 | 8 | 12 | 91.4 |
323,100 | 289 | 72,977 | 7 | 15 | 91.4 |
326,172 | 302 | 63,455 | 9 | 12 | 91.4 |
336,544 | 265 | 64,141 | 7 | 12 | 91.4 |
344,435 | 334 | 63,975 | 7 | 14 | 93.2 |
346,228 | 230 | 74,842 | 8 | 13 | 93.2 |
348,936 | 273 | 74,552 | 10 | 12 | 93.2 |
353,804 | 271 | 61,273 | 10 | 13 | 93.2 |
357,552 | 318 | 66,449 | 8 | 15 | 93.2 |
359,123 | 293 | 74,317 | 8 | 12 | 93.2 |
362,316 | 306 | 62,475 | 8 | 13 | 93.2 |
365,472 | 368 | 70,143 | 8 | 12 | 95 |
366,464 | 356 | 71,303 | 7 | 13 | 95 |
366,540 | 347 | 67,534 | 9 | 16 | 96.8 |
366,781 | 269 | 61,362 | 8 | 14 | 95 |
370,348 | 298 | 64,143 | 9 | 12 | 95 |
372,104 | 346 | 61,275 | 8 | 13 | 95 |
372,255 | 376 | 61,949 | 8 | 16 | 95 |
374,690 | 271 | 68,331 | 7 | 14 | 96.8 |
375,248 | 360 | 73,778 | 10 | 14 | 96.8 |
378,000 | 362 | 70,458 | 8 | 16 | 96.8 |
378,560 | 388 | 71,335 | 9 | 13 | 96.8 |
379,585 | 446 | 74,396 | 8 | 12 | 96.8 |
380,250 | 407 | 63,162 | 8 | 15 | 95 |
380,555 | 315 | 68,975 | 10 | 17 | 96.8 |
386,120 | 396 | 71,234 | 10 | 15 | 100.4 |
387,068 | 380 | 63,599 | 9 | 15 | 98.6 |
388,080 | 477 | 73,561 | 10 | 17 | 98.6 |
389,424 | 417 | 73,958 | 9 | 20 | 98.6 |
392,049 | 428 | 65,356 | 8 | 20 | 98.6 |
397,417 | 488 | 68,260 | 10 | 16 | 100.4 |
400,060 | 357 | 66,850 | 10 | 14 | 100.4 |
400,320 | 479 | 60,240 | 7 | 19 | 100.4 |
404,888 | 493 | 70,085 | 10 | 20 | 100.4 |
408,386 | 465 | 74,073 | 9 | 16 | 100.4 |
408,600 | 371 | 72,548 | 7 | 14 | 100.4 |
412,296 | 340 | 64,644 | 8 | 14 | 98.6 |
412,800 | 551 | 60,654 | 7 | 14 | 100.4 |
417,600 | 450 | 78,519 | 9 | 20 | 107.6 |
419,496 | 636 | 89,516 | 9 | 16 | 100.4 |
424,600 | 419 | 85,436 | 8 | 16 | 100.4 |
431,041 | 489 | 92,885 | 8 | 17 | 98.6 |
432,960 | 649 | 94,590 | 9 | 20 | 102.2 |
435,689 | 606 | 94,776 | 9 | 16 | 102.2 |
436,345 | 497 | 77,604 | 9 | 16 | 102.2 |
438,040 | 412 | 74,600 | 10 | 18 | 102.2 |
448,630 | 698 | 86,823 | 9 | 14 | 102.2 |
450,288 | 445 | 78,416 | 7 | 20 | 104 |
454,445 | 654 | 86,155 | 10 | 19 | 104 |
460,299 | 615 | 93,791 | 8 | 17 | 104 |
463,540 | 454 | 76,524 | 7 | 16 | 104 |
463,913 | 540 | 87,386 | 8 | 18 | 104 |
470,448 | 418 | 83,986 | 9 | 20 | 105.8 |
477,543 | 493 | 87,082 | 10 | 17 | 105.8 |
483,626 | 427 | 74,640 | 9 | 15 | 98.6 |
492,513 | 442 | 79,549 | 7 | 21 | 107.6 |
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