Question
The following data relate the sales figures of the bar in Mark Kaltenbachs small bed-and-breakfast inn in Portand, to the number of guests registered that
The following data relate the sales figures of the bar in Mark Kaltenbachs small bed-and-breakfast inn in Portand, to the number of guests registered that week, perform a linear regression that relates bar sales to guests (not to time) (Show your calculation):
Week | Guests | Sale |
1 | 5 | 60 |
2 | 10 | 120 |
3 | 15 | 220 |
4 | 20 | 300 |
A)What is the slope for regression equation?
B)What is the intercept for regression equation?
C)If the forecast is for 13 guests next week, what are the sales expected to be? (
D)What is the standard error of the estimate? How to interpret it?
E)What is the correlation coefficient for this regression? How to interpret it?
F)What is the coefficient of determination for this regression? How to interpret it?
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