Average drink price Number of drinks sold Volume of traffic Daily max temp (people per day) OF 413 65 2.3 690 442 108 87

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Average Drink Price Number Of Drinks Sold Volume Of Traffic Daily Max Temp People Per Day Of 413 65 2 3 690 442 108 87 1 (70.92 KiB) Viewed 106 times

Average Drink Price Number Of Drinks Sold Volume Of Traffic Daily Max Temp People Per Day Of 413 65 2 3 690 442 108 87 2 (44.29 KiB) Viewed 106 times

Average Drink Price Number Of Drinks Sold Volume Of Traffic Daily Max Temp People Per Day Of 413 65 2 3 690 442 108 87 3 (44.39 KiB) Viewed 106 times

Average drink price Number of drinks sold Volume of traffic Daily max temp (people per day) OF 413 65 2.3 690 442 108 870 3.65 240 104 499 3.15 108 3.4 726 311 437 108 773 2.85 388 85 571 3.5 276 74 519 1.8 209 107 470 2.2 109 2.65 507 251 753 404 94 2.55 363 107 737 3.15 182 63 373 2.25 333 110 733 3.45 2.45 407 68 718 95 3.05 692 315 80 2.95 479 201 65 2.15 701 443 94 2 931 499 70 2.05 684 367 95 2.95 845 490 61 1.65 807 453 103 3.6 887 105 3.9 441 480 453 893 710 66 2.3 94 2.55 523 207 349 108 3.35 730 678 93 4 324 86 482 303 3.75 2.45 113 541 187 110 2.1 872 498
a) Find the multiple regression equation using all three explanatory variables. Assume that X; Is volume of traffic, X2 is maximum daily temperature and is average drink price. Give your answers to 3 decimal places. vol. traffic + max temp + average drink price @ rejected. b) At a level of significance of 0.05, the result of the F test for this model is that the null hypothesis c) The value of R for this model, to 3 decimal places, is equal to d) The value of s for this model, to 3 decimal places, is equal to e) The least significant explanatory variable in this modelis: vol traffic max temp average drink price 1) Construct a new multiple regression model by removing the variable average drink price. Give your answers to 3 decimal places The new regression model equation is: vol traffic + max temp a) in the new model compared to the previous one, the value of R (to 3 decimal places) : increased decreased unchanged 1) In the new model compared to the previous one, the value of s (to 3 decimal places) is: Increased decreased unchanged 1) The better model is the: original model reduced model
Joe Smith is considering opening a franchise of a very popular gourmet fruit drink store. He is interested in constructing a multiple regression model to predict the number of drinks sold in a day based upon the volume of foot traffic passing the store, the daily maximum temperature and the average drink price. Information has been collected on 30 randomly selected days for several randomly chosen stores: hide data Number of drinks sold Average drink price Download the data 690 2.3 870 3.65 499 3.15 726 773 3.4 2.85 3.5 1.8 571 519 470 507 753 737 373 733 716 92 479 901 931 Volume of traffic Daily max temp (people per day) OF 413 65 442 108 240 104 311 108 437 108 388 85 276 74 209 107 251 109 404 94 363 107 182 63 333 110 407 68 315 95 201 80 443 65 499 94 2.2 2.65 2.55 3.15 2.25 3.45 2.45 3.05 2.95 2.15 2 2.05 2.95 1.65 3.6 684 362 845 B07 887 693 490 453 441 480 70 95 61 103 105 3.9