Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. If we have a regression equation for forecasting breakfast sales as: Y = 20 + 0.8 X, how would you interpret the meaning of

2. If we have a regression equation for forecasting breakfast sales as: Y = 20 + 0.8 X, how would you interpret the meaning of the intercept or constant, 20, and the meaning of X coefficient, 0.8. Here Y is measured in terms of breakfast covers and X is the # of people staying in the hotel. 3. If we have a multiple regression forecast equation as: Y = 20 + 0.8X1 + 0.3X2 and Y is measured in terms of covers, X1 stands for number of hotel guests and X2 stands for number of guests at the adjacent hotel, how do you interpret the constant, 20, and the X1 and X2 coefficients, 0.8 and 0.3, respectively

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Design And Analysis Of Experiments

Authors: Douglas C., Montgomery

5th Edition

978-0471316497, 0471316490

Students also viewed these Mathematics questions

Question

What is job enlargement ?

Answered: 1 week ago

Question

what is the most common cause of preterm birth in twin pregnancies?

Answered: 1 week ago

Question

Which diagnostic test is most commonly used to confirm PROM?

Answered: 1 week ago

Question

What is the hallmark clinical feature of a molar pregnancy?

Answered: 1 week ago