Begin by posing the question(s) that your research was intended to answer. You s
ID: 1118553 • Letter: B
Question
Begin by posing the question(s) that your research was intended to answer. You should then describe the data you collected, how these data were analyzed, and how you drew your conclusions. Write a paper summarizing your analysis and interpret your findings. Coffee. There are many places to buy coffee on or near the campus. Your research task is to figure out what determines the prices charged by various coffee sources. You should pick two or three basic coffee varieties (latte, cappuccino, etc.) and collect price information from a variety of coffee shops. Be sure also to collect information about the size of the serving. How is the price per ounce related to whether the shop is a chain or independent, the location of the shop, the presence or absence of seating for on-site consumption, the selection of other menu items available, hours of operation and other factors that you think might matter?
*From the data below, I need help explaining our results based on the regression analysis we cunducted, can you help summarize our analysis and interpret our findings. What do our results say?*
DATA
First set of data
First Results
Second set of data
Second Results
What drives the price 16-oz drip 16-oz Mo 16-oz Lat Seats Drive-thri Rewards of coffee? Chain WifiFast drink Fast food Menu Soup/Salad/San Lutebucks/PLU staff Soup/Salad/San Books/Games/Live music/Poetry readings/Book club Pre-made Sands Merchandise/Newspapers/Sale prices Minimart grocei Self-serve/discounted refills Hamburgers/Salad/Sandwich/Breakfast/ice cream Coffee and drinks 1012 Pacific 5:30a-12p 12901 Pacific 5a-6:30p Free drink with Y Forza Coffee Company Gravity Coffee Company Anthem Coffee 4828 Bridgeport 5:00a-7:30p 4918 Center Str 4:30a-9.00p 1911 Pacific 7:00 AM 6:00 11122 Steele St 4:00a-9:00p Morken Building 7:45am-8:00pm AM-Midnight Pastries/Snacks Lutebucks/On campus 10 N 25 YExplanation / Answer
First set of results say that price of 3 coffees is higher by 4.3 dollars where there is a drive-through and lower by -4.72 dollars if it opens before 7am. For results per coffee divide the coefficients above by 3. The first regression explains 60% of the variation in prices among various cafes. Further, looking at p-values all this relationship are significant at 0% level and overall the F-test says that the equation is well specified for explaining variation in coffee prices.
The second set of results say that price of 3 coffees is higher by 1.29 dollars if the cafe accept a prepaid card, however, this regression only explains 11% variation in the price of coffee among cafes. Also looking at the F test, the regression equation is not significant, which means the second regression does not explain anything about the price of coffee between cafes.
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