To determine whether extra personnel are needed for the day, the owners of a water adventure park
Question:
E(y) = β0 + β1x1 + β2x2 + β3x3
Where
These data were recorded for a random sample of 30 days, and a regression model was fitted to the data. The least squares analysis produced the following results:
= -105 + 25x1 + 100x2 + 10x3
with
s1= 10 s2 = 30 s3 = 4 R2 = .65
a. Interpret the estimated model coefficients.
b. Is there sufficient evidence to conclude that this model is useful for the prediction of daily attendance? Use a = .05.
c. Is there sufficient evidence to conclude that the mean attendance increases on weekends? Use a = .10.
(I.
d. Use the model to predict the attendance on a sunny weekday with a predicted high temperature of 95°F.
e. Suppose the 90% prediction interval for part d is (645, 1,245).
Step by Step Answer:
Statistics For Business And Economics
ISBN: 9780321826237
12th Edition
Authors: James T. McClave, P. George Benson, Terry T Sincich