Required information [The following information applies to the questions displayed below.] Gator Beach Marts, a chain of convenience grocery stores in the Fort Lauderdale area, has store hours that fluctuate from month to month as the tourist trade in the community varies. The utility costs for one of the company's stores are listed below for the past six months. Total Utility Cost Month January February March April May June Total Hours of Operation 550 $ 1,620 600 1,700 700 1,900 500 1,600 450 1,350 400 1,300 raw a scatter diagram of the store's utility costs.
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- Kim Epson operates a full-service car wash, which operatesfrom 8 a.m. to 8 p.m., 7 days a week. The car wash has two sta-tions: an automatic washing and drying station and a manualinterior cleaning station. The automatic washing and dryingstation can handle 30 cars per hour. The interior cleaningstation can handle 200 cars per day. Based on a recent year-end review of operations, Kim estimates that future demandfor the interior cleaning station for the 7 days of the week, expressed in average number of cars per day, would be asfollows:Day Mon. Tues. Wed. Thurs. Fri. Sat. Sun.Cars 160 180 150 140 280 300 250By installing additional equipment (at a cost of $50,000), Kimcan increase the capacity of the interior cleaning station to300 cars per day. Each car wash generates a pretax contribu-tion of $4.00. Should Kim install the additional equipment ifshe expects a pretax payback period of three years or less?Louis Petit, a manager of Doggone Gorgeous, Inc., was reviewing the water bills of a dog daycare and spa. He determined that its highest and lowest bills of $3,800and $2,000 were incurred in the months of May and November, respectively. If 600 dogs were washed in May and 100 dogs were washed in November, what was the fixed cost associated with the company's water bill? (Round any intermediate calculations to the nearest cent and your final answer to the nearest dollar.) A.$ 2 comma 000 $2,000 B.$ 1 comma 800 $1,800 C.$ 1 comma 640 $1,640 D.$ 3 comma 800Johnson Filtration. Inc., provides maintenance service for water filtration systems throughout southern Florida. Customers contact Johnson with requests for maintenance service on their water filtration systems. To estimate the service time and the service cost. Johnson’s managers want to predict the repair time necessary for each maintenance request. Hence, repair time in hours is the dependent variable. Repair time is believed to be related to three factors: the number of months since the last maintenance service, the type of repair problem (mechanical or electrical), and the repairperson who performs the repair (Donna Newton or Bob Jones). Data for a sample of 10 service calls are reported in the following table: Develop the simple linear regression equation to predict repair time given the number of months since the last maintenance service, and use the results to test the hypothesis that no relationship exists between repair time and the number of months since the last maintenance service at the 0.05 level of significance. What is the interpretation of this relationship? What does the coefficient of determination tell you about this model? Using the simple linear regression model developed in part (a), calculate the predicted repair time and residual for each of the 10 repairs in the data. Sort the data in ascending order by value of the residual. Do you see any pattern in the residuals for the two types of repair? Do you see any pattern in the residuals for the two repairpersons? Do these results suggest any potential modifications to your simple linear regression model? Now create a scatter chart with months since last service on the x-axis and repair time in hours on the y-axis for which the points representing electrical and mechanical repairs are shown in different shapes and/or colors. Create a similar scatter chart of months since last service and repair time in hours for which the points representing repairs by Bob Jones and Donna Newton are shown in different shapes and/or colors. Do these charts and the results of your residual analysis suggest the same potential modifications to your simple linear regression model? Create a new dummy variable that is equal to zero if the type of repair is mechanical and one if the type of repair is electrical. Develop the multiple regression equation to predict repair time, given the number of months since the last maintenance service and the type of repair. What are the interpretations of the estimated regression parameters? What does the coefficient of determination tell you about this model? Create a new dummy variable that is equal to zero if the repairperson is Bob Jones and one if the repairperson is Donna Newton. Develop the multiple regression equation to predict repair time, given the number of months since the last maintenance service and the repairperson. What are the interpretations of the estimated regression parameters? What does the coefficient of determination tell you about this model? Develop the multiple regression equation to predict repair time, given the number of months since the last maintenance service, the type of repair, and the repairperson. What are the interpretations of the estimated regression parameters? What does the coefficient of determination tell you about this model? Which of these models would you use? Why?
- Comfort Plus, Inc., has a hotel with 300 rooms in a metropolitan city. Its main competitor, Connors Hotel, has a hotel with 350 rooms in the same city. The following operating data are available for April for the two hotels: a. Determine the guest nights for each hotel in April. b. Determine the available room nights for each hotel in April. c. Determine the occupancy rate for each hotel in April. d. Which hotel has the better utilization of capacity in April?Hogs & Dawgs is an ice cream parlor on the border of north-central Louisiana and southern Arkansas that serves 43 flavors of ice creams, sherbets, frozen yogurts, and sorbets. During the summer Hogs & Dawgs is open from 1:00 p.m. to 10:00 p.m. on Monday through Saturday, and the owner believes that sales change systematically from hour to hour throughout the day. She also believes her sales increase as the outdoor temperature increases. Hourly sales and the outside temperature at the start of each hour for the last week are provided in the file IceCreamSales. Construct a time series plot of hourly sales and a scatter plot of outdoor temperature and hourly sales. What types of relationships exist in the data? Use a simple regression model with outside temperature as the causal variable to develop an equation to account for the relationship between outside temperature and hourly sales in the data. Based on this model, compute an estimate of hourly sales for today from 2:00 p.m. to 3:00 p.m. if the temperature at 2:00 p.m. is 93°F. Use a multiple linear regression model with the causal variable outside temperature and dummy variables as follows to develop an equation to account for both seasonal effects and the relationship between outside temperature and hourly sales in the data in the data: Hour1 = 1 if the sales were recorded between 1:00 p.m. and 2:00 p.m., 0 otherwise; Hour2 = 1 if the sales were recorded between 2:00 p.m. and 3:00 p.m., 0 otherwise; Hour8 = 1 if the sales were recorded between 8:00 p.m. and 9:00 p.m., 0 otherwise. Note that when the values of the 8 dummy variables are equal to 0, the observation corresponds to the 9:00-to-l0:00-p.m. hour. Based on this model, compute an estimate of hourly sales for today from 2:00 p.m. to 3:00 p.m. if the temperature at 2:00 p.m. is 93°F. Is the model you developed in part (b) or the model you developed in part (c) more effective? Justify your answer.Oberweis Dairy switched from delivery trucks with regular gasoline engines to ones with diesel engines. The diesel trucks cost $6,000 more than the ordinary gasoline trucks but costs $1,800 per year less to operate. Assume that Oberweis saves the operating costs at the end of each month. If Oberweis uses a discount rate of 1% per month, approximately how many months, at a minimum, must the diesel trucks remain in service for the switch to be sensible?
- Bodow is an entertainment complex located in Trinidad & Tobago. It offers various activitiessuch as music, rides, slides, and souvenir shopping, and customers pay a fixed fee to enter.The complex has been in operation for the past seven years and remains open throughout theyear. However, weather-related issues often lead to a significant decrease in customerattendance, usually by 50%, on approximately 30 days each year.Bodow has experienced substantial success, with customer numbers increasing byapproximately 15% annually. Sales at Bodow are categorized as cash sales and credit cardsales. All ticket sales are recorded on a computer, including the amount of each sale and thenumber of tickets issued. This information is electronically transferred to the accounts office.Cash collected from each ticket office is counted by two accounts clerks and two securityguards before being banked daily. The total cash from each ticket office is reconciled with thesales information transferred from…Bodow is an entertainment complex located in Trinidad & Tobago. It offers various activitiessuch as music, rides, slides, and souvenir shopping, and customers pay a fixed fee to enter.The complex has been in operation for the past seven years and remains open throughout theyear. However, weather-related issues often lead to a significant decrease in customerattendance, usually by 50%, on approximately 30 days each year.Bodow has experienced substantial success, with customer numbers increasing byapproximately 15% annually. Sales at Bodow are categorized as cash sales and credit cardsales. All ticket sales are recorded on a computer, including the amount of each sale and thenumber of tickets issued. This information is electronically transferred to the accounts office.Cash collected from each ticket office is counted by two accounts clerks and two securityguards before being banked daily. The total cash from each ticket office is reconciled with thesales information transferred from…Bodow is an entertainment complex located in Trinidad & Tobago. It offers various activitiessuch as music, rides, slides, and souvenir shopping, and customers pay a fixed fee to enter.The complex has been in operation for the past seven years and remains open throughout theyear. However, weather-related issues often lead to a significant decrease in customerattendance, usually by 50%, on approximately 30 days each year.Bodow has experienced substantial success, with customer numbers increasing byapproximately 15% annually. Sales at Bodow are categorized as cash sales and credit cardsales. All ticket sales are recorded on a computer, including the amount of each sale and thenumber of tickets issued. This information is electronically transferred to the accounts office.Cash collected from each ticket office is counted by two accounts clerks and two securityguards before being banked daily. The total cash from each ticket office is reconciled with thesales information transferred from…
- Bodow is an entertainment complex located in Trinidad & Tobago. It offers various activitiessuch as music, rides, slides, and souvenir shopping, and customers pay a fixed fee to enter.The complex has been in operation for the past seven years and remains open throughout theyear. However, weather-related issues often lead to a significant decrease in customerattendance, usually by 50%, on approximately 30 days each year.Bodow has experienced substantial success, with customer numbers increasing byapproximately 15% annually. Sales at Bodow are categorized as cash sales and credit cardsales. All ticket sales are recorded on a computer, including the amount of each sale and thenumber of tickets issued. This information is electronically transferred to the accounts office.Cash collected from each ticket office is counted by two accounts clerks and two securityguards before being banked daily. The total cash from each ticket office is reconciled with thesales information transferred from…Bodow is an entertainment complex located in Trinidad & Tobago. It offers various activitiessuch as music, rides, slides, and souvenir shopping, and customers pay a fixed fee to enter.The complex has been in operation for the past seven years and remains open throughout theyear. However, weather-related issues often lead to a significant decrease in customerattendance, usually by 50%, on approximately 30 days each year.Bodow has experienced substantial success, with customer numbers increasing byapproximately 15% annually. Sales at Bodow are categorized as cash sales and credit cardsales. All ticket sales are recorded on a computer, including the amount of each sale and thenumber of tickets issued. This information is electronically transferred to the accounts office.Cash collected from each ticket office is counted by two accounts clerks and two securityguards before being banked daily. The total cash from each ticket office is reconciled with thesales information transferred from…Bodow is an entertainment complex located in Trinidad & Tobago. It offers various activitiessuch as music, rides, slides, and souvenir shopping, and customers pay a fixed fee to enter.The complex has been in operation for the past seven years and remains open throughout theyear. However, weather-related issues often lead to a significant decrease in customerattendance, usually by 50%, on approximately 30 days each year.Bodow has experienced substantial success, with customer numbers increasing byapproximately 15% annually. Sales at Bodow are categorized as cash sales and credit cardsales. All ticket sales are recorded on a computer, including the amount of each sale and thenumber of tickets issued. This information is electronically transferred to the accounts office.Cash collected from each ticket office is counted by two accounts clerks and two securityguards before being banked daily. The total cash from each ticket office is reconciled with thesales information transferred from…