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:
Don't use plagiarized sources. Get Your Custom Essay on
Question & Answer: The following data relate the sales figures of the bar in Mark Kaltenbach's small bed-and-breakfast inn in Portland,…
GET AN ESSAY WRITTEN FOR YOU FROM AS LOW AS $13/PAGE
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).
Bar Sales =62.5+17.25 × guests
for 2020 guests the sale is 62.5+(17.25*2020)= $ 34, 907.5