Rita Sharp, Director of Operations at the Farnsworth Museum of Industrial Arts, has

gathered weekly visitor data for the past year. Rita is interested in explaining why the

number of visitors (NUMV) varies from week to week. Rita has data on two independent

variables. The first is a dummy variable coded 1 for weeks when new items went on

display and coded 0 for all other weeks (NITEM). The second is a variable for the price

of an admissions ticket because part of the museum's marketing strategy is to have

weekly reduced-price admission promotions (TPRICE). The director asks you to generate

a regression equation using these data. Use the data in the Excel spreadsheet to (1)

produce a regression model, (2) interpret the parameters, and (3) access the goodness of fit of the model. In summarizing the findings, what should you tell the director?

Question 4 NUMV NITEM TPRICE 933 0 5 1240 1 5 983 0 5 1129 1 5 758 0 5 927 0 5 1247 1 5 870 0 5 1140 0 3 1231 0 2.5 1038 0 3 1184 0 5 991 0 5 1059 0 3 1397 1 5 756 0 5 1098 0 3 1330 0 2.5 1129 0 5 774 0 5 847 0 5 1206 1 3 1340 1 5 1166 1 5 816 0 5 821 0 5 919 0 5 1214 1 5 1320 0 2.5 1161 0 5 1207 0 5 1246 1 5 1006 0 5 1198 0 2.5 1331 1 5 1101 0 5 1214 0 5 1172 0 3 1137 0 5 1172 0 3 1309 1 5 1051 0 5 1009 0 5 1072 1 5 1118 0 2.5 1106 0 5 1197 0 5 1091 1 5 895 0 5 803 0 5 997 0 5 822 0 5