Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following data relate the sales figures of the bar in Mark Kaltenbach's small bed-and-breakfast inn in Portland, to the number of guests registered that
The following data relate the sales figures of the bar in Mark Kaltenbach's small bed-and-breakfast inn in Portland, to the number of guests registered that week: Week 1 2 3 4 Guests 16 Bar Sales = 12 18 14 Bar Sales $320 $265 a) The simple linear regression equation that relates bar sales to number of guests (not to time) is (round your responses to one decimal place): $390 $315 x guests b) If the forecast is 30 guests next week, the bar sales are expected to be $ (round your response to one decimal place).
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started