Time Period t Daily Sales 1 4 2 47 3 41 4 31 5 16 6 26 7 40 8 27 9 19 10 30 11 4

Question

Time Period t Daily Sales 1 4 2 47 3 41 4 31 5 16 6 26 7 40 8 27 9 19 10 30 11 48 12 42 13 31 14 25 15 45 16 41 17 47 18 44 19 46 20 52

Given the Data Above for the first 20 days Daily Sales of a new restaurant, use a Regression Tool like DATA ANALYSIS in Excel and find each of the following:
Slope of Regression Equation = Hint: Value should be between 0.5 and 1.9
Y Intercept for the Regression Equation =

Correlation Coefficient = (Round to Nearest 100th, e.g., 0.9762123 = 0.98)
Coefficient of Determination = (Round to Nearest 100th, e.g., 0.95299 = 0.95)


Using your Regression Equation, Predict Daily Sales for Periods t=21, t=22, and t=23:
Daily Sales (21) =

Daily Sales (22) =

Daily Sales (23) =

Unless otherwise stated, Round all answers to the nearest %u201Ctenth%u201D, e.g., 16.41234 = 16.4 Enter whole numbers like 24 as 24.0 Time Period t Daily Sales 1 4 2 47 3 41 4 31 5 16 6 26 7 40 8 27 9 19 10 30 11 48 12 42 13 31 14 25 15 45 16 41 17 47 18 44 19 46 20 52

Given the Data Above for the first 20 days Daily Sales of a new restaurant, use a Regression Tool like DATA ANALYSIS in Excel and find each of the following:
Slope of Regression Equation = Time Period t Daily Sales 1 4 2 47 3 41 4 31 5 16 6 26 7 40 8 27 9 19 10 30 11 48 12 42 13 31 14 25 15 45 16 41 17 47 18 44 19 46 20 52 Hint: Value should be between 0.5 and 1.9
Y Intercept for the Regression Equation =

Correlation Coefficient = (Round to Nearest 100th, e.g., 0.9762123 = 0.98)
Coefficient of Determination = (Round to Nearest 100th, e.g., 0.95299 = 0.95)


Using your Regression Equation, Predict Daily Sales for Periods t=21, t=22, and t=23:
Daily Sales (21) =

Daily Sales (22) =

Daily Sales (23) =

Unless otherwise stated, Round all answers to the nearest %u201Ctenth%u201D, e.g., 16.41234 = 16.4 Enter whole numbers like 24 as 24.0 Time Period t Daily Sales 1 4 2 47 3 41 4 31 5 16 6 26 7 40 8 27 9 19 10 30 11 48 12 42 13 31 14 25 15 45 16 41 17 47 18 44 19 46 20 52

Explanation / Answer

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