Palisades Eco-Park is a small ecological reserve that admits a relatively small number of visitors on any day, but provides both educational and entertaining lectures, exhibitions, and opportunities to observe nature. The company has collected the following data on labor costs and number of visitors to the park over the last 30 months.

Month	Labor Cost		Visitors
1	$	25,820	1,700
2	$	36,290	2,592
3	$	39,968	2,811
4	$	31,648	2,222
5	$	34,809	2,373
6	$	32,672	2,181
7	$	32,023	2,205
8	$	38,334	2,676
9	$	38,568	2,760
10	$	46,933	3,572
11	$	42,157	2,976
12	$	39,030	2,804
13	$	34,444	2,415
14	$	33,173	2,336
15	$	36,971	2,508
16	$	26,500	2,099
17	$	30,663	3,397
18	$	29,961	2,786
19	$	27,590	2,412
20	$	30,003	2,972
21	$	25,692	2,000
22	$	24,655	1,794
23	$	28,892	3,267
24	$	30,153	3,817
25	$	28,119	2,592
26	$	31,690	3,274
27	$	28,651	2,989
28	$	29,927	3,050
29	$	28,438	2,511
30	$	27,874	2,075

Required:

a. Estimate the labor costs assuming 2,500 visitors for the month using the results of a simple regression based on the 30 months of available data. b. What percentage of the variance in the data does the R-squared value explain? c. You learn that starting in month 16, the park started using a different, more automated system for interacting with visitors. Estimate the labor cost assuming 2,500 visitors using the results of a simple regression based on the data for months 16 through 30 only. d. What percentage of the variance in the data does the R-squared value explain?

Palisades Eco-Park is a small ecological reserve that admits a relatively small number of visitors on any day, but provides both educational and entertaining lectures, exhibitions, and opportunities to observe nature. The company has collected the following data on labor costs and number of visitors to the park over the last 30 months. Month 1 2 3 9 10 11 12 13 14 15 16 - 17 Labor Cost $25,820 $36,290 $39,968 $31,648 o $34,809 $32,672 $32,023 20'234 $38, 334 Onco $38,568 re $46,933 $42, 157 *** $39,030 $34,444 XX $33,173 ***** $36,971 $26,500 2 es $30,663 002 $29,961 $27,590 4624 $30,003 $25,692 $24,655 $28,892 $30,153 $28,119 $31,690 $28,651 $29,927 Visitors 1,700 2,592 2,811 2,222 2,373 40 2,181 10- 2, 205 2 2,676 2,760 3,572 2,976 2,804 2,415 2,336 2,508 12 2,099 3,397 17 2,786 100 2,412 ** 2,972 ** 2,000 1,794 3,267 19 20 23 24 24 25 25 26 26 27 27 28 29 30 3,817 2,592 3,274 2,989 3,050 2,511 $28,438 $27,874 2,075 Required: a. Estimate the labor costs assuming 2,500 visitors for the month using the results of a simple regression based on the 30 months of available data. b. What percentage of the variance in the data does the R-squared value explain? Required: a. Estimate the labor costs assuming 2,500 visitors for the month using the results of a simple regression based on the 30 months of available data. b. What percentage of the variance in the data does the R-squared value explain? c. You learn that starting in month 16, the park started using a different, more automated system for interacting with visitors. Estimate the labor cost assuming 2,500 visitors using the results of a simple regression based on the data for months 16 through 30 only. d. What percentage of the variance in the data does the R-squared value explain? Complete this question by entering your answers in the tabs below. Req A and B Req C and D a. Estimate the labor costs assuming 2,500 visitors for the month using the results of a simple regression based on the 30 months of available data. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) b. What percentage of the variance in the data does the R-squared value explain? a. Labor cost b. The R-squared value suggests that the number of visitors only explains Complete this question by entering your answers in the tabs below. Req A and B Reg C and D c. You learn that starting in month 16, the park started using a different, more automated system for interacting with visitors. Estimate the labor cost assuming 2,500 visitors using the results of a simple regression based on the data for months 16 through 30 only. (Do not round intermediate calculations and round your final answer to 2 decimal places.) d. What percentage of the variance in the data does the R-squared value explain? Show less c. Labor cost d. The R-squared value suggests that the number of visitors only explains