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
ID: 3023390 • Letter: T
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 =
Y Intercept for the Regression Equation =
Correlation Coefficient =
Coefficient of Determination =
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) =
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
Following table shows the result of regression analysis:
So slope of regression equation is : 1.2
Y -intercept of regression equation is : 22.5
Correlation coeffcient: 0.5582
Coefficient of Determination = 0.3115
The equation of regression line will be
Sales= 1.2t+ 22.5
For t = 21 predcited sales will be
Sales= 1.2*21+ 22.5 = 47.7
For t = 22 predcited sales will be
Sales= 1.2*22+ 22.5 = 48.9
For t = 23 predcited sales will be
Sales= 1.2*23+ 22.5 = 50.1
SUMMARY OUTPUT Regression Statistics Multiple R 0.558154288 R Square 0.311536209 Adjusted R Square 0.273288221 Standard Error 10.84281636 Observations 20 ANOVA df SS MS F Significance F Regression 1 957.6 957.6 8.145165863 0.010541221 Residual 18 2116.2 117.5666667 Total 19 3073.8 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept 22.5 5.036829273 4.46709602 0.00029786 11.91801438 33.08198562 Time Period -t 1.2 0.420466384 2.853973697 0.010541221 0.316632908 2.083367092Related Questions
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