Brewsky's is a chain of micro-breweries. Managers are interested in the costs of the stores and...
Brewsky's is a chain of micro-breweries. Managers are interested in the costs of the stores and believe that the costs can be explained in large part by the number of customers patronizing the stores. Monthly data regarding customer visits and costs for the preceding year for one of the stores have been entered into the regression analysis and the analysis is as follows:
| Average monthly customer visits | 1,666 | ||
| Average monthly total costs | $ | 4,884 | |
| Regression Results | |||
| Intercept | $ | 1,700 | |
| b coefficient | $ | 2.34 | |
| R2 | 0.88871 | ||
What is the percent of the total variance that can be explained by the regression equation? (CMA adapted)
Multiple Choice
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88.9%
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29.3%
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72.6%
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98.0%
Homework Answers
Answer : 88.9%
The Percentage of Variance is specified from the REgression equation with R-Square, It the coefficient of Determination. From the Above data, 88.871% of Variation can be Explained.
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Brewsky's is a chain of micro-breweries. Managers are interested
in the costs of the stores and...
Brewsky's is a chain of micro-breweries. Managers are interested in the costs of the stores and...
Brewsky's is a chain of micro-breweries. Managers are interested in the costs of the stores and believe that the costs can be explained in large part by the number of customers patronizing the stores. Monthly data regarding customer visits and costs for the preceding year for one of the stores have been entered into the regression analysis and the analysis is as follows: Average monthly customer visits 1,690 Average monthly total costs $ 4,914 Regression Results Intercept $ 1,724 b...
Brewsky's is a chain of micro-breweries. Managers are interested in the costs of the stores and...
Brewsky's is a chain of micro-breweries. Managers are interested in the costs of the stores and believe that the costs can be explained in large part by the number of customers patronizing the stores. Monthly data regarding customer visits and costs for the preceding year for one of the stores have been entered into the regression analysis and the analysis is as follows: Average monthly customer visits 1,474 Average monthly total costs $ 4,644 Regression Results Intercept $ 1,508 b...
Brewsky's is a chain of micro-breweries. Managers are interested in the costs of the stores and...
Brewsky's is a chain of micro-breweries. Managers are interested in the costs of the stores and believe that the costs can be explained in large part by the number of customers patronizing the stores. Monthly data regarding customer visits and costs for the preceding year for one of the stores have been entered into the regression analysis and the analysis is as follows: 1462 Average monthly customer visits Average monthly total costs $ Regression Results 1496 Intercept $ s 2.05...
Brews 4 U is a local chain of coffee shops. Managers are interested in the costs...
Brews 4 U is a local chain of coffee shops. Managers are interested in the costs of the stores and believe that the costs can be explained in large part by the number of customers patronizing the stores. Monthly data regarding customer visits and costs for the preceding year for one of the stores have been entered into the regression analysis. $ 4.900 49,300 Average monthly customer-visits Average monthly total costs Regression results. Intercept b coefficient $ 45.15 7.34 0.79729...
Thane Company is interested in establishing the relationship between electricity costs and machine hours. Data have...
Thane Company is interested in establishing the relationship between electricity costs and machine hours. Data have been collected and a regression analysis prepared using Excel. The monthly data and the regression output follow: Month January February March April May June July August September October November December Machine Hours 2,300 2,700 1,700 2,900 3,600 3,100 3,900 3,300 1,800 3,500 4,500 4,000 Electricity Costs $19, 100 $22,400 $14,200 $24,400 $28,950 $23,400 $25,450 $23,450 $ 16,900 $27,400 $32,400 $28,450 Summary Output Regression Statistics...
Thane Company is interested in establishing the relationship between electricity costs and machine hours. Data have...
Thane Company is interested in establishing the relationship between electricity costs and machine hours. Data have been collected and a regression analysis prepared using Excel. The monthly data and the regression output follow: Month January February March April May June July August September October November December Machine Hours 2,300 2,700 1,700 2,900 3,600 3, 100 3,900 3,300 1,800 3,500 4,500 4,000 Electricity Costs $19, 100 $22,400 $14,200 $24,400 $28,950 $23,400 $25,450 $23,450 $ 16,900 $27,400 $32,400 $28,450 Summary Output Regression...
Thane Company is interested in establishing the relationship between electricity costs and machine hours. Data have...
Thane Company is interested in establishing the relationship between electricity costs and machine hours. Data have been collected and a regression analysis prepared using Excel. The monthly data and the regression output follow: Month January February March April May June July August September October November December Machine Hours 2,200 2,600 1,600 2,800 3,500 3,000 3,800 3,200 1,700 3,400 4,400 3,900 Electricity Costs $ 19,050 $22,300 $14,150 $24,300 $28,900 $23,300 $25,400 $23,400 $ 16,800 $27,300 $32,300 $28,400 Summary Output Regression Statistics...
(2) Thane Company is interested in establishing the relationship between electricity costs and machine hours. Data...
(2) Thane Company is interested in establishing the relationship between electricity costs and machine hours. Data have been collected and a regression analysis prepared using Excel. The monthly data and the regression output follow: Month Machine Hours Electricity Costs January 3,200 $ 18,750 February 3,600 $ 21,700 March 2,600 $ 13,850 April 3,800 $ 23,700 May 4,500 $ 28,600 June 4,000 $ 22,700 July 5,200 $ 25,100 August 4,200 $ 23,100 September 2,700 $ 16,200 October 4,400 $ 26,700...
Brewsky's is a chain of micro-breweries. Managers are interested in the costs of the stores and believe that the costs can be explained in large part by the number of customers patronizing the stores. Monthly data regarding customer visits and costs for the preceding year for one of the stores have been entered into the regression analysis and the analysis is as follows: 1462 Average monthly customer visits Average monthly total costs $ Regression Results 1496 Intercept $ s 2.05...
Brews 4 U is a local chain of coffee shops. Managers are interested in the costs of the stores and believe that the costs can be explained in large part by the number of customers patronizing the stores. Monthly data regarding customer visits and costs for the preceding year for one of the stores have been entered into the regression analysis. $ 4.900 49,300 Average monthly customer-visits Average monthly total costs Regression results. Intercept b coefficient $ 45.15 7.34 0.79729...
Thane Company is interested in establishing the relationship between electricity costs and machine hours. Data have been collected and a regression analysis prepared using Excel. The monthly data and the regression output follow: Month January February March April May June July August September October November December Machine Hours 2,300 2,700 1,700 2,900 3,600 3,100 3,900 3,300 1,800 3,500 4,500 4,000 Electricity Costs $19, 100 $22,400 $14,200 $24,400 $28,950 $23,400 $25,450 $23,450 $ 16,900 $27,400 $32,400 $28,450 Summary Output Regression Statistics...
Thane Company is interested in establishing the relationship between electricity costs and machine hours. Data have been collected and a regression analysis prepared using Excel. The monthly data and the regression output follow: Month January February March April May June July August September October November December Machine Hours 2,300 2,700 1,700 2,900 3,600 3, 100 3,900 3,300 1,800 3,500 4,500 4,000 Electricity Costs $19, 100 $22,400 $14,200 $24,400 $28,950 $23,400 $25,450 $23,450 $ 16,900 $27,400 $32,400 $28,450 Summary Output Regression...
Thane Company is interested in establishing the relationship between electricity costs and machine hours. Data have been collected and a regression analysis prepared using Excel. The monthly data and the regression output follow: Month January February March April May June July August September October November December Machine Hours 2,200 2,600 1,600 2,800 3,500 3,000 3,800 3,200 1,700 3,400 4,400 3,900 Electricity Costs $ 19,050 $22,300 $14,150 $24,300 $28,900 $23,300 $25,400 $23,400 $ 16,800 $27,300 $32,300 $28,400 Summary Output Regression Statistics...
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