$39.374 159 Palisades Eco Park is a small ecological reserve that admits a relatively smal number of visitors on any day, but provides both educational and entertaining lectures, exhibitions, and opportunities to observe nature. The company has collected the following data on labor costs and number of visitors to the park over the last 20 months. Month Labor Coat Visitors . 526,320 2,400 2 537,274 532,306 535,733 3,137 $33,350 532,891 3,33 539,614 19 10 543,205 5,042 11 543,300 21: 12 540,00 13 535,378 14 13 $37,774 16 2,963 13 531,495 10 19 520,30 530,116 10 $26,313 2,123 529,475 520,30 526,082 26 $32,549 27 $29, 420 4,220 20 $34.013 3.21 123,124 330.738 Required: a. Estimate the labor costs assuming 3.200 visitors for the month using the results of a simple regression based on the 30 months of available data b. What percentage of the variance in the data does the R-squared value explain? c. You learn that starting in month 16, the park started using a different, more automated system for interacting with visitors. Estimate the labor cost assuming 3,200 visitors using the results of a simple regression based on the data for months 16 through 30 only. d. What percentage of the variance in the data does the R-squared value explain? Complete this question by entering your answers in the tabs below. Req A and B ReqC and D a. Estimate the labor costs assuming 3,200 visitors for the month using the results of a simple regression based on the 30 months of available data. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) D. What percentage of the variance in the data does the R-squared value explain? a Laborcos 33,088.00 b. The Raquared value suggests that the number of visitos only explains About 20% of the variance in the data. RAGA and B ReqC and D > $39.374 159 Palisades Eco Park is a small ecological reserve that admits a relatively smal number of visitors on any day, but provides both educational and entertaining lectures, exhibitions, and opportunities to observe nature. The company has collected the following data on labor costs and number of visitors to the park over the last 20 months. Month Labor Coat Visitors . 526,320 2,400 2 537,274 532,306 535,733 3,137 $33,350 532,891 3,33 539,614 19 10 543,205 5,042 11 543,300 21: 12 540,00 13 535,378 14 13 $37,774 16 2,963 13 531,495 10 19 520,30 530,116 10 $26,313 2,123 529,475 520,30 526,082 26 $32,549 27 $29, 420 4,220 20 $34.013 3.21 123,124 330.738 Required: a. Estimate the labor costs assuming 3.200 visitors for the month using the results of a simple regression based on the 30 months of available data b. What percentage of the variance in the data does the R-squared value explain? c. You learn that starting in month 16, the park started using a different, more automated system for interacting with visitors. Estimate the labor cost assuming 3,200 visitors using the results of a simple regression based on the data for months 16 through 30 only. d. What percentage of the variance in the data does the R-squared value explain? Complete this question by entering your answers in the tabs below. Req A and B ReqC and D a. Estimate the labor costs assuming 3,200 visitors for the month using the results of a simple regression based on the 30 months of available data. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) D. What percentage of the variance in the data does the R-squared value explain? a Laborcos 33,088.00 b. The Raquared value suggests that the number of visitos only explains About 20% of the variance in the data. RAGA and B ReqC and D >
