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4. Use excel to answer the folowing questions and show work and formulas used Problem 4 A restaurant periodically offers carryout five-piece chicken dinners at
4. Use excel to answer the folowing questions and show work and formulas used
Problem 4 A restaurant periodically offers carryout five-piece chicken dinners at special prices. The following are historical observations from past sales the restaurant has experienced. a. Develop a linear regression equation for dinners sold sales as a function of the price. b. Forecast the number of dinners sold if the price is set at $6.00 each. c. Evaluate the "goodness of fit" of the regression equation by computing the values of coefficient of determination r2, the correlation coefficient r, and the standard error Syx and interpret the results Step by Step Solution
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