Lakeside Caf, located in Branson Missouri features casual lunches with a great view of Table Rock...
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Lakeside Café, located in Branson Missouri features casual lunches with a great view of Table Rock Lake. In order to accommodate the crowd in summer, Mr. Smith, the manager of the Café hires a large number of servers as seasonal servers. When he interviews the servers, he would like to provide data on how much a server would earn in tips. He believes that the amount of the bill and the numbers of diners are food predictors of the amount of the tip. He gathered the following data related to 30 customers (see the excel file). a. Estimate a multiple regression equation with the amount in tips as the dependent variable and the amount of the bill and the number of diners as independent variables. Based on your estimate, how much amount in tip will be added when the number of diner increases by one? (4) points) b. Set up a global null and alternative hypothesis and conduct the test using an appropriate statistic. (1 Point) c. Conduct individual hypothesis test. Set the null and alternative hypothesis for each of the variables. Use appropriate test statistics. (2 points) Customer Amount of Tip 7.00 4.50 1 $ 2 $ 3 $ 4 $ 5 $ 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 $ Amount of Bill 48.97 28.23 10.65 19.82 28.62 24.83 6.24 49.20 43.26 31.36 32.87 34.99 33.91 23.06 4.65 23.59 22.30 32.00 50.02 17.60 44.47 20.27 19.53 27.03 21.28 43.38 28.12 26.25 56.81 50.65 $ $ 1.00 $ 2.40 $ 5.00 $ 4.25 $ 0.50 $ 6.00 $ 5.00 $ 4.75 $ 5.25 $ 6.00 $ 4.00 $ 3.35 $ 0.75 $ 3.30 $ 3.50 $ 3.25 $ 5.40 $ 2.25 $ 5.50 $ 3.00 $ 1.25 $ 3.25 $ 3.00 $ 6.25 $ 5.60 $ 2.50 $ 9.25 $ 8.25 $ Diners 5 4 1 224NW WH 3 3 1 4 4 3 4 2 1 2 4 3 4223255 Lakeside Café, located in Branson Missouri features casual lunches with a great view of Table Rock Lake. In order to accommodate the crowd in summer, Mr. Smith, the manager of the Café hires a large number of servers as seasonal servers. When he interviews the servers, he would like to provide data on how much a server would earn in tips. He believes that the amount of the bill and the numbers of diners are food predictors of the amount of the tip. He gathered the following data related to 30 customers (see the excel file). a. Estimate a multiple regression equation with the amount in tips as the dependent variable and the amount of the bill and the number of diners as independent variables. Based on your estimate, how much amount in tip will be added when the number of diner increases by one? (4) points) b. Set up a global null and alternative hypothesis and conduct the test using an appropriate statistic. (1 Point) c. Conduct individual hypothesis test. Set the null and alternative hypothesis for each of the variables. Use appropriate test statistics. (2 points) Customer Amount of Tip 7.00 4.50 1 $ 2 $ 3 $ 4 $ 5 $ 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 $ Amount of Bill 48.97 28.23 10.65 19.82 28.62 24.83 6.24 49.20 43.26 31.36 32.87 34.99 33.91 23.06 4.65 23.59 22.30 32.00 50.02 17.60 44.47 20.27 19.53 27.03 21.28 43.38 28.12 26.25 56.81 50.65 $ $ 1.00 $ 2.40 $ 5.00 $ 4.25 $ 0.50 $ 6.00 $ 5.00 $ 4.75 $ 5.25 $ 6.00 $ 4.00 $ 3.35 $ 0.75 $ 3.30 $ 3.50 $ 3.25 $ 5.40 $ 2.25 $ 5.50 $ 3.00 $ 1.25 $ 3.25 $ 3.00 $ 6.25 $ 5.60 $ 2.50 $ 9.25 $ 8.25 $ Diners 5 4 1 224NW WH 3 3 1 4 4 3 4 2 1 2 4 3 4223255
Expert Answer:
Answer rating: 100% (QA)
Tip Bill Biners 875 7525 1 45 2823 4 1 1065 1 24 1982 3 5 2862 ... View the full answer
Related Book For
Statistical Techniques In Business And Economics
ISBN: 9781260239478
18th Edition
Authors: Douglas Lind, William Marchal, Samuel Wathen
Posted Date:
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