Answered step by step
Verified Expert Solution
Link Copied!

Question

00
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).
image text in transcribed
a) The simple linear regression equation that relates bar sales to number of guests (not to timo) is (round your responses to one decimal place): Bar Sales = 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

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Finance questions