Question & Answer: The following data relate the sales figures of the bar in Mark​ Kaltenbach's small​ bed-and-breakfast inn in​ Portland,…

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 Guests 16 12 18 14 Bar Sales $330 $275 $380 $300

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Question & Answer: The following data relate the sales figures of the bar in Mark​ Kaltenbach's small​ bed-and-breakfast inn in​ Portland,…
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​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): Bar Sales​ =______​+______ × guests

​b) If the forecast is 2020 guests next​ week, the bar sales are expected to be $_____ ​(round your response to one decimal​ place).

Expert Answer

Question & Answer: The following data relate the sales figures of the bar in Mark​ Kaltenbach's small​ bed-and-breakfast inn in​ Portland,... 1

Bar Sales​ =62.5+17.25 × guests

for 2020 guests the sale is 62.5+(17.25*2020)= $ 34, 907.5

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