Forecasting – Simple Linear Regression Applications Essay

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STATISTICS FOR MGT DECISIONS FINAL EXAMINATION Forecasting – Simple Linear Regression Applications Interpretation and Use of Computer Output (Results) NAME SECTION A – REGRESSION ANALYSIS AND FORECASTING 1) The management of an international hotel chain is in the process of evaluating the possible sites for a new unit on a beach resort. As part of the analysis, the management is interested in evaluating the relationship between the distance of a hotel from the beach and the hotel’s average occupancy rate for the season. A sample of 14 existing hotels in the area is chosen, and each hotel reports its average occupancy rate. The management records the hotel’s distance (in miles) from the beach. The following set of data…show more content…
You are given a set of data below: Sampled Weekly House Food Entertain/ Weekly Individual Income Rent Expense Expense Savings Case 1 \$250 85 95 25 20 Case 2 \$190 75 90 10 0 Case 3 \$420 140 120 40 50 Case 4 \$340 120 130 0 40 Case 5 \$280 110 100 30 15 Case 6 \$310 80 125 25 25 Case 7 \$520 150 140 55 80 Case 8 \$440 175 155 45 0 Case 9 \$360 90 85 20 95 Case 10 \$385 105 135 35 30 Case 11 \$205 80 105 0 5 Case 12 \$265 65 95 15 15 Case 13 \$195 50 80 10 20 Case 14 \$250 90 100 25 0 Case 15 \$480 140 160 45 45 A multiple regression was ran with WEEKLY SAVINGS as the DEPENDENT VARIABLE and the rest as the INDEPENDENT VARIABLES. SAVINGS =