Genesee Fishing Tours (GFT) offers small group fishing expeditions off the local coast. The managers of...

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Genesee Fishing Tours (GFT) offers small group fishing expeditions off the local coast. The managers of the company are considering expanding the business to another city and want to put together a financial plan. As a part of that effort, the financial staff are analyzing the operating costs of GFT. They believe that a good predictor of operating cost is the number of clients that use the service. As a part of their analysis, they have collected 30 months of data on operating costs and number of clients, which follow. Month 2 6 11 9 10 11 12 13 14 15 16 GERARRAN 17 18 19 20 21 22 23 24 Clients 469 752 619 537 659 447 402 724 842 576 725 663 676 559 464 302 576 624 495 520 487 402 595 613 Operating costs $ 18,300 42,900 41,920 38,610 41,970 35,960 34,510 40,420 42,120 39,350 44,330 40,090 41,870 39,790 39,000 36,140 50,750 55,800 44,270 A8,600 45,700 44,790 33,600 55,930 Month 1 2345 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 clients 469 752 619 537 659 447 402 724 842 576 725 663 676 • 559 464 382 576 624 495 529 487 492 595 613 790 660 623 538 520 558 Operating Costs $ 38,300 42,900 41,920 38,610 41,970 35,960 34,510 40,420 42,120 39,350 44,330 40,090 41,870 39,790 39,000 36,140 50,750 55,880 44,270 48,680 45,700 44,790 53,600 53,930 65,600 58,940 54,570 48, 170 46,400 51,700 ok W ences a. Estimate the operating costs assuming 700 clients for the month using the results of a simple regression based on the 30 months of available data. b. What percentage of the variance in the data does the R-squared value explain? c. You learn that starting in month 16, Genesee Fishing Tours started using a different, more personalized protocol for interacting with clients. Estimate the operating cost assuming 700 clients using the results of a simple regression based on the data for months 16 through 30 only. d. How confident are you in the estimate using the regression results? Complete this question by entering your answers in the tabs below. Req A and B Req C and D a. Estimate the operating costs assuming 700 clients for the month using the results of a simple regression based on the 30 months of available data Note: Round "Cost per client" to two decimal places. Round other intermediate calculations and final answer to nearest whole number. b. What percentage of the variance in the data does the R-squared value explain? a. Operating cost b. The R-squared value suggests that the number of clients explains less than 20% of the variance in the data. Bea Cand D Show less A Required: a. Estimate the operating costs assuming 700 clients for the month using the results of a simple regression based on the 30 months of available data. b. What percentage of the variance in the data does the R-squared value explain? c. You learn that starting in month 16, Genesee Fishing Tours started using a different, more personalized protocol for interacting with clients. Estimate the operating cost assuming 700 clients using the results of a simple regression based on the data for months 16 through 30 only. d. How confident are you in the estimate using the regression results? Complete this question by entering your answers in the tabs below. Req A and B Req C and D. c. You learn that starting in month 16, Genesee Fishing Tours started using a different, more personalized protocol for interacting with clients. Estimate the operating cost assuming 700 clients using the results of a simple regression based on the data for months 16 through 30 only. Note: Round "Cost per client" to two decimal places. Round other intermediate calculations and final answer to nearest whole number. d. How confident are you in the estimate using the regression results? c. Operating cost d. Estimate using the regression results in more confidence Show less A Genesee Fishing Tours (GFT) offers small group fishing expeditions off the local coast. The managers of the company are considering expanding the business to another city and want to put together a financial plan. As a part of that effort, the financial staff are analyzing the operating costs of GFT. They believe that a good predictor of operating cost is the number of clients that use the service. As a part of their analysis, they have collected 30 months of data on operating costs and number of clients, which follow. Month 2 6 11 9 10 11 12 13 14 15 16 GERARRAN 17 18 19 20 21 22 23 24 Clients 469 752 619 537 659 447 402 724 842 576 725 663 676 559 464 302 576 624 495 520 487 402 595 613 Operating costs $ 18,300 42,900 41,920 38,610 41,970 35,960 34,510 40,420 42,120 39,350 44,330 40,090 41,870 39,790 39,000 36,140 50,750 55,800 44,270 A8,600 45,700 44,790 33,600 55,930 Month 1 2345 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 clients 469 752 619 537 659 447 402 724 842 576 725 663 676 • 559 464 382 576 624 495 529 487 492 595 613 790 660 623 538 520 558 Operating Costs $ 38,300 42,900 41,920 38,610 41,970 35,960 34,510 40,420 42,120 39,350 44,330 40,090 41,870 39,790 39,000 36,140 50,750 55,880 44,270 48,680 45,700 44,790 53,600 53,930 65,600 58,940 54,570 48, 170 46,400 51,700 ok W ences a. Estimate the operating costs assuming 700 clients for the month using the results of a simple regression based on the 30 months of available data. b. What percentage of the variance in the data does the R-squared value explain? c. You learn that starting in month 16, Genesee Fishing Tours started using a different, more personalized protocol for interacting with clients. Estimate the operating cost assuming 700 clients using the results of a simple regression based on the data for months 16 through 30 only. d. How confident are you in the estimate using the regression results? Complete this question by entering your answers in the tabs below. Req A and B Req C and D a. Estimate the operating costs assuming 700 clients for the month using the results of a simple regression based on the 30 months of available data Note: Round "Cost per client" to two decimal places. Round other intermediate calculations and final answer to nearest whole number. b. What percentage of the variance in the data does the R-squared value explain? a. Operating cost b. The R-squared value suggests that the number of clients explains less than 20% of the variance in the data. Bea Cand D Show less A Required: a. Estimate the operating costs assuming 700 clients for the month using the results of a simple regression based on the 30 months of available data. b. What percentage of the variance in the data does the R-squared value explain? c. You learn that starting in month 16, Genesee Fishing Tours started using a different, more personalized protocol for interacting with clients. Estimate the operating cost assuming 700 clients using the results of a simple regression based on the data for months 16 through 30 only. d. How confident are you in the estimate using the regression results? Complete this question by entering your answers in the tabs below. Req A and B Req C and D. c. You learn that starting in month 16, Genesee Fishing Tours started using a different, more personalized protocol for interacting with clients. Estimate the operating cost assuming 700 clients using the results of a simple regression based on the data for months 16 through 30 only. Note: Round "Cost per client" to two decimal places. Round other intermediate calculations and final answer to nearest whole number. d. How confident are you in the estimate using the regression results? c. Operating cost d. Estimate using the regression results in more confidence Show less A

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