Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please show work! Genesee Fishing Tours (GFT) offers small group fishing expeditions off the local coast. The managers of the company are considering expanding the

Please show work!
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Genesee Fishing Tours (GFT) offers small group fishing expeditions off the local coast. The managers of the company are considering expanding the business to another city and want to put together a financial plan. As a part of that effort, the financial staff are analyzing the operating costs of GFT. They belleve that a good predictor of operating cost is the number of clients that use the service: As a part of their analysis, they have collected 30 months of data on operating costs and number of elients, which follow: a. Estimate the operating costs assuming 700 clients for the month using the results of a simple regression based on the 30 months of available data. b. What percentage of the varlance in the data does the R-squared value explain? c. You learn that starting in month 16, Genesee Fishing Tours started using a different, more personalized protocol for interacting with clients. Estimate the operating cost assuming 700 clients using the results of a simple regression based on the data for months 16 through 30 only. d. How confident are you in the estimate using the regression results? Complete this question by entering your answers in the tabs below. a. Estimate the operating costs assuming 700 clients for the month using the results of a simple regression based on the 30 months of avallable data: Note: Round "Cost per client" to two decimal places. Round other intermodiate calculations and final answer to nearest whole number. b. What percentage of the variance in the data does the R-squared value explain? a. Estimate the operating costs assuming 700 clients for the month using the results of a simple regression based on the 30 months 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, Genesee Fishing Tours started using a different, more personalized protocol for interacting with clients. Estimate the operating cost assuming 700 clients using the results of a simple regression based on the data for months 16 through 30 only. d. How confident are you in the estimate using the regression results? Complete this question by entering your answers in the tabs below. c. You learn that starting in month 16 , Genesee Fishing Tours started using a different, more personalized protocol for interacting with clients. Estimate the operating cost assuming 700 clients using the results of a simple regression based on the data for months 16 through 30 only. Note: Round "Cost per client" to two decimal places. Round other intermediate calculations and final answer to nearest whole number. d. How confident are you in the estimate using the regression results

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions