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Is there a relationship between weekly sales revenue ($000) of a coffee shop and the size of the coffee shop (square metres), the number of
Is there a relationship between weeklysales revenue($000) of a coffee shop and thesizeof the coffee shop (square metres), the number ofchairsin the coffee shop and the number ofhours,per week,a competitor coffee shop is open?A random sample of coffee shops was selected, data collected on these variables and then in EXCEL created a regression.
Part of the regression output is provided in the screenshot :
Which of the following best describes the coefficient (or slope) ofHours?
- None of these choices is correct.
- Holding the variables Chairs and Size constant, we estimate weekly sales revenue to increase by an average of $5,390 for every extra hour a nearby competitor coffee shop is open.
- Holding the variables Chairs and Size constant, we estimate weekly sales revenue to decrease by an average of $1000 for every extra 5.39 hours a nearby competitor coffee shop is open.
- Holding the variables Chairs and Size constant, we estimate weekly sales revenue to decrease by an average of $5,390 for every extra hour a nearby competitor coffee shop is open.
- Holding the variables Chairs and Size constant, we estimate the weekly sales revenue to increase by an average of $1000 for every extra 5.39 hours a nearby competitor coffee shop is open.
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