Question: Please complete all work in excel. Use excel to make any necessary calculations and be sure to identify your answer, including units (if necessary). A

Please complete all work in excel. Use excel to make any necessary calculations and be sure to identify your answer, including units (if necessary).

  1. A new business is testing out their operating hours to determine the best policy for hours of operation. Based on their most recent trials for additional hours open per day, the manager must determine if there is a relationship between extending hours and additional profits.

Additional Profits ($)

Extended hours

500

1

1500

2

500

2

2100

3

2200

4

2000

3

750

2

1900

3

2200

3

2300

4
  1. What is the regression equation? (5 pts)
  2. Use the model to forecast additional profits if the extended hours on one day is 3. (5 pts)
  3. Is the model statistically significant at the .05 level? (5 pts)
  4. How much of the variability in additional profits is determined by extended hours? (5 pts)

Excel only and show formulas

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

HW 4 (50 pts) Please complete all work in excel. Use excel to make any necessary calculations and be sure to identify your answer, including units (if necessary). A manager of a call center has...

Q:

Please complete all work in excel. Use excel to make any necessary calculations and be sure to identify your answer, including units (if necessary). Answers that need formulas must have them within...

Q:

HW 5 (50 pts) - Please complete all work in excel. Use excel to make any necessary calculations and be sure to identify your answer, including units (if necessary). 88 1. Main Street is trying to...

Q:

Please complete all work in excel. Use excel to make any necessary calculations and be sure to identify your answer, including units (if necessary). The city wants to further develop the model to...

Q:

Please complete all work in excel. Use excel to make any necessary calculations and be sure to identify your answer, including units (if necessary). The city is trying to determine future demand for...

Q:

-- Please complete all work in excel. Use excel to make any necessary calculations and be sure to identify your answer, including units (if necessary). 1) A manager of a call center has noticed...

Q:

HW 1 Part 2- Please complete all work in excel. Use excel to make the calculations and be sure to identify your answer, including units. 7) Design Expo is considering new locations for its...

Q:

Please complete all work in excel. Use excel to make the calculations and be sure to identify your answer, including units. 3. The utilization of a machine is 70 percent. The machine has a design...

Q:

HW 1 Part 2- Please complete all work in excel. Use excel to make the calculations and be sure to identify your answer, including units. Given the following sales data: Quarter Year 1 Year 2 1 360...

Q:

HW 1 Part 2- Please complete all work in excel. Use excel to make the calculations and be sure to identify your answer, including units. 1. Home sales over a 4-month period were forecasted as...

Q:

A five-year project has a projected net cash flow of $21,000 in year 1, $28,000 in year 2, $24,000 in year 3, $18,000 in year 4, and $18,000 in year 5. It will cost $50,000 to implement the project....

Q:

You decide to put $500 in a retirement account every 6 months for the next ten years. Assuming that the account pays 5% interest and compounds semi-annually, how much will you have at the end of ten...

Q:

Consider the circuit shown in Figure CP3.3. Determine the transfer function V01s2>Vin1s2. Assume an ideal op-amp. (a) Determine the state variable representation when R1 = 1 k, R2 = 10 k, C1 = 0.5...

Q:

When older adults have difficulty with transportation and communication, or may be reluctant to request needed assistance to which they are entitled, they may be in need of: Group of answer choices...