Do problem XXXXXXXXXXSubmit an Excel file with your model output and responses.36. The owner of a...

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Do problem XXXXXXXXXXSubmit an Excel file with your model output and responses.

36. The owner of a restaurant has recorded sales data for the past 19 years. He has also recorded data on potentially relevant variables. The data appear in the fileP10_23.xlsxDownload P10_23.xlsx.

Estimate a regression equation for sales as a function of population, advertising in the current year, and advertising in the previous year. Can you expect predictions of sales in future years to be very accurate if they are based on this regression equation? Explain.
The company would like to predict sales in the next year (year 20). It doesn’t know what the population will be in year 20, so it assumes no change from year 19. Its planned advertising level for year 20 is $30,000. Find a prediction and a 95% prediction interval for sales in year 20.
PLEASE SUBMIT AN EXCEL FILE

p1023-2-oci5zz3h.xlsx

Rochak · Accepted Answer

Data
	Year	Sales
Christopher J. Zappe, Ph.D.: Sales in thousands of dollars during the current year.
	Population
Christopher J. Zappe, Ph.D.: Population within ten miles of the restaurant.
	Advertising	Previous Advertising
	1	$15,713	102,558	$20,000	$30,000
	2	$12,937	101,792	$15,000	$20,000
	3	$12,872	104,347	$25,000	$15,000
	4	$16,227	106,180	$30,000	$25,000
	5	$15,388	106,562	$15,000	$30,000
	6	$13,180	105,209	$25,000	$15,000
	7	$17,199	109,185	$35,000	$25,000
	8	$20,674	109,976	$40,000	$35,000
	9	$20,350	110,659	$20,000	$40,000
	10	$14,444	111,844	$25,000	$20,000
	11	$17,530	111,576	$35,000	$25,000
	12	$16,711	113,784	$5,000	$35,000
	13	$9,715	112,482	$12,000	$5,000
	14	$12,248	116,487	$16,

Do problem XXXXXXXXXXSubmit an Excel file with your model output and responses.36. The owner of a restaurant has recorded sales data for the past 19 years. He has also recorded data on potentially...

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