Question
See below the regression output that shows the relationship between number of rooms sold and coffee shop revenue in the lobby of JeyJey Hotel. The
See below the regression output that shows the relationship between number of rooms sold and coffee shop revenue in the lobby of JeyJey Hotel. The coffee shop manager believes that number of rooms sold is a predictor of coffee shop revenue. If 2,420 rooms is expected to be sold in January, what would be the forecasted coffee shop revenue for January?
SUMMARY OUTPUT | ||||||
Regression Statistics | ||||||
Multiple R | 0.8834 | |||||
R Square | 0.8108 | |||||
Standard Error | 1253.64 | |||||
Observations | 60 | |||||
Coefficients | Standard Error | t Stat | P-value | |||
Intercept | 7200 | 1321.857654 | 4.46682923 | 0.00019288 | ||
X Variable 1 | 1.12 | 0.355509109 | 8.222081906 | 3.7357E-08 |
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
10th Edition
1119491630, 978-1119491637, 978-0470534793
