The owner of Boston sports bar believes that, on average, her restaurant is busier on days when the Red Sox play an away game (a
game played at another team’s stadium), but she wants to be sure before adding more staff. To test whether this is true, she takes a random sample of 50 days over the course of the baseball season and records the total daily revenue, along with whether the Red Sox were playing away that day (1 if yes, 0 if no). Using the data provided, perform a regression analysis to determine the effect of Red Sox away games on revenue. Be sure to include the residuals and residual plot in your analysis.
1 answer:
Answer:
Check Explanation and the third attached image to this solution for the summary of regression analysis.
Step-by-step explanation:
The data for the question is missing. It was obtained online and is presented in the first and second attached images to this solution.
The regression analysis is then done with Excel and the results posted in the third attached image to this solution.
The residuals too are with the results.
Hope this Helps!!!
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Answer:
Option C.The decrease in the value of the motorcycle, which is 9%
Step-by-step explanation:
we have a exponential function of the form
where
a is the initial value
b represents growth or decay factor
If b >1 then it is an exponential growth
if 0<b<1 then it is an exponential decay
In this problem
a=$19,000
b=0.91 -----> it is exponential decay factor
Find the rate of decrease r
b=(1-r)
substitute
0.91=1-r
r=1-0.91=0.09
Convert to percentage
0.09*100=9%
therefore
0.91 represent the decrease in the value of the motorcycle, which is 9%