Question

Camp Rainbow offers overnight summer camp programs for children ages 10-14 every summer during June and July. Each camp session is one week and can accommodate up to 200 children. The camp is not coed, so boys attend during the odd-numbered weeks and girls attend during the even-numbered weeks. While at the camp, participants make crafts, participate in various sports, help care for the camp's resident animals, have cookouts and hayrides, and help assemble toys for local underprivileged children. The camp provides all food as well as materials for all craft classes and the toys to be assembled. One cabin can accommodate up to 10 children, and one camp counselor is assigned to each cabin. Three camp managers are on-site regardless of the number of campers enrolled. Following is the cost information for Camp Rainbow's operations last summer: Week Number of Cost to Run Campers Camp 192 $14,340 174 13,510 122 9,710 118 9,160 152 12,590 120 9,920 130 9,110 132 10,680 Required: 1. Perform a least-squares regression analysis on Camp Rainbow's data. 2. Using the regression output, create a cost equation (y = a + bx) for estimating Camp Rainbow's operating costs. 3. Using the least-squares regression results, calculate the camp's expected operating cost if 130 children attend a session. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Perform a least-squares regression analysis on Camp Rainbow's data. (Use Microsoft Excel or a statistical package to find the coefficients using least-squares regression. Round your answers to 2 decimal places.) Coefficients Intercept X Variable 1

Answer 1

SUMMARY OUTPUT Regression Statistics Multiple R 0.9605342 R Square 0.922626 Adjusted R Squ 0.9097303 Standard Error 619.33304 Observations ANOVA df Regression Residual Total SS 1 2.7E+07 6 2301440 7 3E+07 MS F gnificance F 2.7E+07 71.5454 0.00015 383573 Intercept X Variable 1 Coefficients andard Err StatP-value Lower 95%Jpper 95% 898.59 1228.98 0.73117 0.49223 -2108.6 3905.79 71.78 8.4864 8.45845 0.00015 51.0163 92.5473

Regression Line : Y=a+BX Y=Total Cost , a = Fixed Cost (Interecept), Interecept X-Variable 1 898.59 71.78 Total Cost = 898.59+(71.78*Number of Campers) Material Handling Cost for 130 units Total cost = 898.59+(71.78*130) 10229.99