ZuoTi.Pro
Question

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 coefficient $ 2.38
R2 0.89113

Based on the data derived from the regression analysis, what are the estimated costs for 1,500 customer visits in a month? (CMA adapted)

  • $3,570.

  • $5,294.

  • $6,638.

  • $4,914.

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Answer : $ 5,294

Regression Equation = Y=a+bX

Regression equation = $1,724+($ 2.38 *customers Visitts)

Estimated Cost = $ 1,724+($2.38*1,500) = $5,294 (Answer)

0 0
Add a comment
Know the answer?
Add Answer to:
Brewsky's is a chain of micro-breweries. Managers are interested in the costs of the stores and...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • 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: Average monthly customer visits 1,666 Average monthly total costs $ 4,884 Regression Results Intercept $ 1,700 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 Machine Hours Electricity Costs January 3,000 $ 18,650 February 3,400 $ 21,500 March 2,400 $ 13,750 April 3,600 $ 23,500 May 4,300 $ 28,500 June 3,800 $ 22,500 July 4,600 $ 25,000 August 4,000 $ 23,000 September 2,500 $ 16,000 October 4,200 $ 26,500 November...

  • 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 Machine Hours Electricity Costs January 2.500 $ 18.400 February 2,900 21,000 March 1.900 13,500 April 3,100 23,000 May 3.800 28,250 3,300 22,000 4,500 24,750 August 3.500 22,750 September 2,000 15,500 October 3,700 26,000 November 4,700 31.000 December 4.200 27,750 Summary Output Regression Stonistics Multiple 0.965 0.932...

  • 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 Machine Hours Electricity Costs January 3,100 $ 18,700 February 3,500 $ 21,600 March 2,500 $ 13,800 April 3,700 $ 23,600 May 4,400 $ 28,550 June 3,900 $ 22,600 July 4,700 $ 25,050 August 4,100 $ 23,050 September 2,600 $ 16,100 October 4,300 $ 26,600 November...

  • (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...

  • 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 Machine Hours Electricity Costs January 3,500 $ 18,900 February 3,900 $ 22,000 March 2,900 $ 14,000 April 4,100 $ 24,000 May 4,800 $ 28,750 June 4,300 $ 23,000 July 5,500 $ 25,250 August 4,500 $ 23,250 September 3,000 $ 16,500 October 4,700 $ 27,000 November...

  • 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 2,500 2,900 1,900 3,100 3,800 3,300 4,100 3,500 2,000 3,700 4,700 4,200 Electricity Costs $ 18,400 $ 21,000 $ 13,500 $ 23,000 $ 28,250 $ 22,000 $ 24,750 $ 22,750 $ 15,500...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT