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Management proposed the following regression model to predict sales at a fast-food outlet. y = Bo + B, 11 + B212 + B523
Posted: Mon Nov 15, 2021 10:51 am
by answerhappygod
- Management Proposed The Following Regression Model To Predict Sales At A Fast Food Outlet Y Bo B 11 B212 B523 1 (27.12 KiB) Viewed 143 times
Management proposed the following regression model to predict sales at a fast-food outlet. y = Bo + B, 11 + B212 + B523 + where 21 = number of competitors within one mile In - population within one mile (1000) 1 if drive-up window present 10 otherwise y =sales ($1000s) The following estimated regression equation was developed after 20 outlets were surveyed. y = 10.1 - 4.101 +6.1x2 + 15.133 a. What is the expected amount of sales attributable to the drive-up window? S b. Predict sales for a store with two competitors, a population of 8,000 within one mile, and no drive-up window. Estimate of sales = $ c. Predict sales for a store with one competitor, a population of 3,000 within 1 mile, and a drive-up window. Estimate of sales $