Please answer all parts. Thank you. 1. The owner of the food chain Lobster Grill wants to investigate the factors that affect sales at their beach front restaurants. She chooses four variables as...
1. The owner of the food chain Lobster Grill wants to investigate the factors that affect sales at their beach front restaurants. She chooses four variables as estimators of sales: # of parking spaces near the restaurant, distance of the restaurant from the beach (measured in miles), # of workers, and whether or not it is the summer season. The regression equation is Predicted Sales 640.39 Parking 1.6 Distance +1.4 Workers + 2.25 Summer where sales is measured in thousands of dollars. Interpret the y-intercept. Does it make sense? a. Interpret the coefficient on Parking. b. c. Interpret the coefficient on Distance d. Interpret the coefficient on Summer. What are Estimated Sales if one particular location has 20 parking spaces, is 0.75 miles from the beach, employs 12 workers, and it is not the summer season? e.
1. The owner of the food chain Lobster Grill wants to investigate the factors that affect sales at their beach front restaurants. She chooses four variables as estimators of sales: # of parking spaces near the restaurant, distance of the restaurant from the beach (measured in miles), # of workers, and whether or not it is the summer season. The regression equation is Predicted Sales 640.39 Parking 1.6 Distance +1.4 Workers + 2.25 Summer where sales is measured in thousands of dollars. Interpret the y-intercept. Does it make sense? a. Interpret the coefficient on Parking. b. c. Interpret the coefficient on Distance d. Interpret the coefficient on Summer. What are Estimated Sales if one particular location has 20 parking spaces, is 0.75 miles from the beach, employs 12 workers, and it is not the summer season? e.