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Following data presents the number of rooms sold and number of breakfast customers of Ada Hotel. Year Month # of Rooms Sold # of Breakfast
Following data presents the number of rooms sold and number of breakfast customers of Ada Hotel. Year Month # of Rooms Sold # of Breakfast Customers 2020 January 18,590 22,087 2020 February 17,670 18,590 2020 March 20,246 23,191 2020 April 19,326 22,639 2020 May 22,271 24,848 2020 June 21,903 23,560 2020 July 21,167 24,296 2020 August 22,087 24,664 2020 September 21,719 23,191 2020 October 20,615 23,007 2020 November 18,590 21,351 2020 December 16,749 18,498 Task 1. Assume that Ada Hotel uses regression method for forecasting. The number of breakfast customers is forecasted based on number of rooms sold. a Run regression analysis on Excel to explore the relationship between number of rooms sold and number of breakfast customers. You need to use the "Regression" function in Excel under Data/Data Analysis/Regression to complete this task. Once you run the regression analysis, save the summary output from the regression analysis and construct the linear function in the form Y = Intercept + B*X, where Y equals number of breakfast customers, X is number of rooms sold and B is the change in number of breaksfast customers when number of rooms sold increases by one unit. (If you do not see Data Analysis in Data Tab, then that means you need to install Data Analysis Toolpak because it is an Add-In; it does not automatically come with Excel. Here is a tutorial on how to install Data Analysis Toolpak for Windows: https://www.youtube.com/watch?v=V60-IFnih3Q ). Once you run the regression analysis, select new worksheet for output range, and then copy your output to this worksheet. b If 18,199 rooms are forecasted for January 2021, how many breakfast customers are forecasted to be served in January 2021? Use the linear function constructed in part a, to complete this question. c Determine the coefficient of correlation and coefficient of determination from the regression analysis. Interpret these statistics
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