Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please type answer I need help solving this problem please type answer The Conch Caf, located in Gulf Shores, Alabama, features casual lunches with a

Please type answer image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedI need help solving this problem please type answer

The Conch Caf, located in Gulf Shores, Alabama, features casual lunches with a great view of the Gulf of Mexico. To accommodate the increase in business during the summer vacation season, Fuzzy Conch, the owner, hires a large number of servers as seasonal help. When he interviews a prospective server, he would like to provide data on the amount a server can earn in tips. He believes that the amount of the bill and the number of diners are both related to the amount of the tip. He gathered the following sample information. Customer 1 2 3 4 6 7 8 9 10 11 12 13 14 15 Amount of Tip $ 7.50 4.50 1.00 2.40 5.00 4.25 0.50 6.00 5.00 3.60 5.95 6.00 4.00 3.35 0.75 Amount of Bill $ 86.55 28.23 10.65 19.82 28.62 24.83 6.25 49.20 43.26 53.00 72.29 34.99 33.91 23.06 4.65 Number of Diners 2 4 1 3 3 2 1 4 3 7 3 3 4 2 1 Customer 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Amount of Tip $ 3.30 3.50 3.25 5.40 2.25 3.40 3.00 1.25 3.25 3.00 6.25 5.60 2.50 9.25 5.20 Amount of Bill $ 23.59 22.30 32.00 50.02 17.60 65.08 20.27 19.53 27.03 21.28 43.38 28.12 26.25 57.35 84.29 Number of Diners 2 2 2 4 3 6 2 2 3 2 4 4 2 1 8 picture Click here for the Excel Data File a-1. Develop a multiple regression equation with the amount of tips as the dependent variable and the amount of the bill and the number of diners as independent variables and complete the table. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) a-1. Develop a multiple regression equation with the amount of tips as the dependent variable and the amount of the bill and the number of diners as independent variables and complete the table. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) Coefficient SE Coefficient t p-value Predictor Constant Bill Diners a-2. Write out the regression equation. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) Tip = Bill + Diners a-3. How much does another diner add to the amount of the tips? (Round your answer to 2 decimal places.) Another diner on average adds to the tip. b-1. Complete the ANOVA table. (Leave no cells blank - be certain to enter "O" wherever required. Round "SS, MS" to 3 decimal places and "F"to 2 decimal places.) DF SS MS F p-value Source Regression Residual Error Total b-2. What is your decision regarding the null-hypothesis? null hypothesis. At least one coefficient is from 0. C-1. Conduct an individual test on each of the variables. What is the decision rule at the 0.05 level of significance? (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) It would be rejected ift is less than For more than TTTTTT c-2. Which variable should be deleted? should be deleted. d. Use the equation developed in part (c) to determine the coefficient of determination. (Round your answer to 2 decimal places.) The coefficient of determination The Conch Caf, located in Gulf Shores, Alabama, features casual lunches with a great view of the Gulf of Mexico. To accommodate the increase in business during the summer vacation season, Fuzzy Conch, the owner, hires a large number of servers as seasonal help. When he interviews a prospective server, he would like to provide data on the amount a server can earn in tips. He believes that the amount of the bill and the number of diners are both related to the amount of the tip. He gathered the following sample information. Customer 1 2 3 4 6 7 8 9 10 11 12 13 14 15 Amount of Tip $ 7.50 4.50 1.00 2.40 5.00 4.25 0.50 6.00 5.00 3.60 5.95 6.00 4.00 3.35 0.75 Amount of Bill $ 86.55 28.23 10.65 19.82 28.62 24.83 6.25 49.20 43.26 53.00 72.29 34.99 33.91 23.06 4.65 Number of Diners 2 4 1 3 3 2 1 4 3 7 3 3 4 2 1 Customer 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Amount of Tip $ 3.30 3.50 3.25 5.40 2.25 3.40 3.00 1.25 3.25 3.00 6.25 5.60 2.50 9.25 5.20 Amount of Bill $ 23.59 22.30 32.00 50.02 17.60 65.08 20.27 19.53 27.03 21.28 43.38 28.12 26.25 57.35 84.29 Number of Diners 2 2 2 4 3 6 2 2 3 2 4 4 2 1 8 picture Click here for the Excel Data File a-1. Develop a multiple regression equation with the amount of tips as the dependent variable and the amount of the bill and the number of diners as independent variables and complete the table. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) a-1. Develop a multiple regression equation with the amount of tips as the dependent variable and the amount of the bill and the number of diners as independent variables and complete the table. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) Coefficient SE Coefficient t p-value Predictor Constant Bill Diners a-2. Write out the regression equation. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) Tip = Bill + Diners a-3. How much does another diner add to the amount of the tips? (Round your answer to 2 decimal places.) Another diner on average adds to the tip. b-1. Complete the ANOVA table. (Leave no cells blank - be certain to enter "O" wherever required. Round "SS, MS" to 3 decimal places and "F"to 2 decimal places.) DF SS MS F p-value Source Regression Residual Error Total b-2. What is your decision regarding the null-hypothesis? null hypothesis. At least one coefficient is from 0. C-1. Conduct an individual test on each of the variables. What is the decision rule at the 0.05 level of significance? (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) It would be rejected ift is less than For more than TTTTTT c-2. Which variable should be deleted? should be deleted. d. Use the equation developed in part (c) to determine the coefficient of determination. (Round your answer to 2 decimal places.) The coefficient of determination

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

More Books

Students also viewed these Finance questions

Question

Compare a companys strategic plan with a football teams game plan.

Answered: 1 week ago

Question

25.0 m C B A 52.0 m 65.0 m

Answered: 1 week ago