(Solved) : G3 Demand Estimation 1096 Santai Spot Local Eatery Chain Conducted Study Factors Affecting Q32456008 . . .
G3 DEMAND ESTIMATION (1096) Santai Spot, a local eatery chain, conducted a study of the factors affecting demand (sales). The following variables were defined and measured for a random sample of 40 of its restaurants Q quantity demanded in hundreds P price in RM A advertising expenditures Y average household income H total amount of delivery sales price of other goods in RM The data were entered into a computerized regression program and the following results were obtained: 0.68 R-Square Standard error of estimate F value 1.80 185.62 Std. Error Variable Constant Coefficient 40 0.7 1.3 2.2 2.5 0.9 0.6 0.11 0.17 0.75 T-stat 16 2.06 1.99 2.73 1.24 0.83 0.8 Which of the independent variables (if any) are statistically significant at the.05 level in explaining” restaurant sales? (e) (2p) (1) What proportion of the variation in restaurant sales is “explained” by the regression equation? Is it a strong or weak explanatory power? Interpret the F-value coefficient. indicate the range of forecasted demand at 95% confidence interval for Santai Spot. (2p) (2p) (3p) (g) (h) Show transcribed image text
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