Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Regression question: What is the adjusted R2 of this model? According to this model, what would be the forecast for Fizzy Ice Creams on a

Regression question: What is the adjusted R2 of this model? According to this model, what would be the forecast for Fizzy Ice Creams on a Sunday in which average temperature is 89 degrees Fahrenheit?

Sarah believes that demand for her Fizzy Ice Creams will be determined by temperature and day of the week. She has built a regression model to predict Fizzy Ice Creams demand using the following two variables:

  • Variable 1: Temperature
  • Variable 2: Weekday or not

Demand data for the last 30 days is available in Table 3, as well as average daily temperature (in Farenheit) and day of the week information.

What is the adjusted R2 of this model?

According to this model, what would be the forecast for Fizzy Ice Creams on a Sunday in which average temperature is 89 degrees Fahrenheit?

Table 3:

Day Demand Temperature Day of the week
1 88 88 Monday
2 87 93 Tuesday
3 74 83 Wednesday
4 88 73 Thursday
5 86 74 Friday
6 122 83 Saturday
7 85 70 Sunday
8 66 78 Monday
9 56 77 Tuesday
10 52 70 Wednesday
11 66 67 Thursday
12 78 69 Friday
13 114 71 Saturday
14 90 75 Sunday
15 52 69 Monday
16 56 76 Tuesday
17 63 80 Wednesday
18 53 78 Thursday
19 74 67 Friday
20 90 79 Saturday
21 90 84 Sunday
22 64 84 Monday
23 50 84 Tuesday
24 79 69 Wednesday
25 87 79 Thursday
26 64 81 Friday
27 116 78 Saturday
28 87 82 Sunday
29 76 74 Monday
30 88 77 Tuesday

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

WebAssign For A First Course In Differential Equations With Modeling Applications

Authors: Dennis G Zill

11th Edition

1337879770, 9781337879774

More Books

Students also viewed these Mathematics questions

Question

What is a spending variance and what does it mean?

Answered: 1 week ago

Question

What reward will you give yourself when you achieve this?

Answered: 1 week ago