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Problem 2: Luxury Cruise Lines has a fleet of ships that travel to Alaska repeatedly every summer. A considerable amount of advertising is done each winter to help generate enough passengers for the summer. With the coming of the new winter season, a decision needs to be made about how much advertising to do this year. Amount of 225 400 350 275 450 advertising ($1,000s) Sales 16 21 20 17 23 (thousands of passengers) 1. How many thousands of passengers would be generated if Luxury Cruise spends $300,000 on advertising? 2. Estimate the amount of advertising needed to target a booking of 22,000 passengers. 3. Is the regression model a good model? Why?

Problem 2: Luxury Cruise Lines has a fleet of ships that travel to Alaska repeatedly every summer. A considerable amount of advertising is done each winter to help generate enough passengers for the summer. With the coming of the new winter season, a decision needs to be made about how much advertising to do this year. Amount of 225 400 350 275 450 advertising ($1,000s) Sales 16 21 20 17 23 (thousands of passengers) 1. How many thousands of passengers would be generated if Luxury Cruise spends $300,000 on advertising? 2. Estimate the amount of advertising needed to target a booking of 22,000 passengers. 3. Is the regression model a good model? Why?

College Algebra
College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter7: Matrices And Determinants
Section7.2: Operations With Matrices
Problem 12ECP
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Problem 2: Luxury Cruise Lines has a fleet of ships that travel to Alaska repeatedly every summer. A considerable amount of advertising is done each winter to help generate enough passengers for the summer. With the coming of the new winter season, a decision needs to be made about how much advertising to do this year. Amount of 225 400 350 275 450 advertising ($1,000s) Sales 16 21 17 23 (thousands of passengers) 1. How many thousands of passengers would be generated if Luxury Cruise spends $300,000 on advertising? 2. Estimate the amount of advertising needed to target a booking of 22,000 passengers. 3. Is the regression model a good model? Wwhy? 20
Transcribed Image Text:Problem 2: Luxury Cruise Lines has a fleet of ships that travel to Alaska repeatedly every summer. A considerable amount of advertising is done each winter to help generate enough passengers for the summer. With the coming of the new winter season, a decision needs to be made about how much advertising to do this year. Amount of 225 400 350 275 450 advertising ($1,000s) Sales 16 21 17 23 (thousands of passengers) 1. How many thousands of passengers would be generated if Luxury Cruise spends $300,000 on advertising? 2. Estimate the amount of advertising needed to target a booking of 22,000 passengers. 3. Is the regression model a good model? Wwhy? 20
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