Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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 EXCEL then used to create a regression.

Part of the regression output is provided here:

Which of the following is the correct statement, when testing the coefficients of the independent variables, at of 0.05?

Coefficients Standard error t Stat P-value Lower 95% Upper 95%
Intercept 15433.76 6610.97 2.33 0.03 1844.72 29022.8
Size 28.92 11.2 2.58 0.02 5.9 51.94
Chairs 172.22 119 1.45 0.16 72.38 416.82
Hours -5.39 1.85 -2.92 0.01 -9.19 -1.59

a.None of the coefficients are significantly different to zero.

b.The coefficients of Size, Chairs and Hours are significantly different to zero.

c.None of these choices is correct.

d.Only the coefficient of Chairs is significantly different to zero.

e.The coefficients of Size and Hours are each significantly different to zero.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Basic Business Statistics Concepts And Applications

Authors: Mark L. Berenson, David M. Levine, Timothy C. Krehbiel

12th Edition

132168383, 978-0132168380

More Books

Students also viewed these Mathematics questions

Question

Discuss Machiavellis importance to the history of psychology.

Answered: 1 week ago

Question

3. What is my goal?

Answered: 1 week ago

Question

2. I try to be as logical as possible

Answered: 1 week ago