A large yoga studio chain is interested in determining whether the size of the n

Question

A large yoga studio chain is interested in determining whether the size of the newspaper ad and the amount of initiation fee discount affects the number of visitors interested in joining the club during the following week. The data collected is listed below.

Develop the least-squares multiple regression equation. Holding all other variables constant, for every inch increase in the advertisement column size, how many more new visitors do we expect to see?

Studio New Visitors Ad Column Size (in inches) Discount Fee 1 23 4 100 2 30 7 20 3 20 3 40 4 26 6 25 5 20 2 50 6 18 5 30 7 17 4 25 8 31 8 80

Explanation / Answer

This is the multiple regression equation where y indicates the new visitors, x1 and x2 indicates the advertisement column size and discout fee.

Regression equation : y(pred) = 10.6873 +2.1569 x1 + 0.042

This means for every inch increase in the advertisement column size will results into 2.1569 increase in number of visitors.

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