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  3. a new restaurant keeps track of the number of nigh

A new restaurant keeps track of the number of nightly customers at monthly intervals over the...

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Basic Math

  1. A new restaurant keeps track of the number of nightly customersat monthly intervals over the course of a year. The restaurant hasdone very little advertising; most of its publicity is by word ofmouth but its number of customers is increasing. The restaurantdoes not have a seasonal difference in number of customers (forexample, no summer crowds).
  1. Using the data below, fit each an exponential regression modelto the data using Excel.

Month

Nightly

customers

0

35

1

41

2

46

3

54

4

66

5

84

6

103

7

117

8

141

9

180

10

222

11

275

  1. Write down your regression equation.

  1. Enter the regression equation into your calculatorand use the table feature to estimate when the restaurant will have400 people.

  1. What does the model predict about the number ofcustomers in 18 months?

  1. What does the model predict as time goes on? Forexample how many customers will be at the restaurant in 300 months(25 years), is this reasonable?

  1. What is the growth rate of your regression equation?Find and interpret it.

Answer & Explanation Solved by verified expert
4.3 Ratings (564 Votes)
Performed below regression analysis in excel from thedatanalysis tool pack addin in dataRegression output belowSo the Regression eqn is Customers1859 2033MonthQwhen the    See Answer
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