Daily Gross Revenue=766.981 + 2.977 * Daily Tour Income – 12.31 * Number of Tourists Report...

Daily Gross Revenue=766.981 + 2.977 * Daily Tour Income – 12.31 * Number of Tourists

Report and interpret of both coefficients of determination.
Report and explain the significance of each independent variable in both regressions.
Report and explain the significance of both models.
Predict y for a fictitious set of x values for both models.

Years	Weekend	Daily Tour Income	Number of Tourists=y	Daily Gross Revenue	Total Daily Income
1	Friday	3378	432	4838.95	8216.95
1	Saturday	1198	139	3487.78	4685.78
1	Sunday	3630	467	4371.3	8001.3
2	Friday	4550	546	6486.48	11036.48
2	Saturday	2467	198	3437.39	5904.39
2	Sunday	3593	452	4571.43	8164.43
3	Friday	898	119	2515.15	3413.15
3	Saturday	2812	342	5462.11	8274.11
3	Saturday	2650	321	5498.89	8148.89
4	Friday	3230	402	5071.14	8301.14
4	Saturday	4798	523	8051.43	12849.43
4	Sunday	3253	353	4291.95	7544.95
5	Friday	2848	347	4545	7393
5	Saturday	4632	534	8865.01	13497.01
5	Sunday	3767	412	4710.64	8477.64
6	Friday	4499	529	10752.74	15251.74
6	Saturday	3868	422	6435.63	10303.63
6	Sunday	2489	288	3389.37	5878.37
7	Friday	3448	367	6129.58	9577.58
7	Saturday	3612	406	7357.12	10969.12
7	Sunday	1937	216	2121.76	4058.76
8	Friday	2548	294	4738.86	7286.86
8	Saturday	2833	317	4141.98	6974.98
8	Sunday	2214	284	4878.35	7092.35
9	Friday	1520	169	4102.49	5622.49
9	Saturday	4322	462	8639.55	12961.55
9	Sunday	1833	203	3946.71	5779.71
10	Friday	2271.63	235	4236.31	6507.94
10	Saturday	2407.88	266	5613.27	8021.15
10	Sunday	1772.17	182	5580.17	7352.34
11	Friday	1494	177	3833.52	5327.52
11	Saturday	1998	213	3986.57	5984.57
11	Sunday	1388	165	2721.56	4109.56
12	Friday	1925	190	3952.19	5877.19
12	Saturday	2695	243	6281.3	8976.3
12	Sunday	1525	172	3356.14	4881.14
13	Friday	1725	187	3822.59	5547.59
13	Saturday	2450	253	4141.75	6591.75
13	Sunday	1407.5	173	3312.41	4719.91
14	Friday	2394	242	4571.5	6965.5
14	Saturday	3012	311	6363.3	9375.3
14	Sunday	2058	239	3502.22	5560.22
15	Friday	2427	267	5881.13	8308.13
15	Saturday	3189	336	10409.13	13598.13
15	Sunday	2109	178	4955.05	7064.05
16	Friday	2244	184	4347.41	6591.41
16	Saturday	3195	274	4935.17	8130.17
16	Sunday	1017	114	3486.27	4503.27
17	Friday	3470	325	6290.99	9760.99
17	Saturday	5323	478	13132.55	18455.55
17	Sunday	2345	242	5014.45	7359.45
18	Friday	1671	177	2740.23	4411.23
18	Saturday	2321.94	246	4423.31	6745.25
18	Sunday	1542	182	2650.48	4192.48

Expert Solution

Analysis
regression 1:

1)
regression equation:
Daily Gross Revenue = 1408.52 + 12.68*number of tourists

2)
R^2 =    48.91%

3)
Ho: beta1 is not significant
h1: beta1 is significant
With t=7.05, p<5%, I reject ho and conclude that beta1 is significant.

4)
Ho: model is not significant
h1: model is significant
With F=49.79, p<5%, I reject ho and conclude that the model is significant.

5)
when x= 119,
predicted Y = 1408.52 + 12.68*119 = 2917.44

regression 2:

1)
regression equation:
Daily Gross Revenue = 748.65179 + 1.6362*Daily Tour Income

2)
R^2 = 62.707%

3)
Ho: beta1 is not significant
h1: beta1 is significant
With t=9.35, p<5%, I reject ho and conclude that beta1 is significant.

4)
Ho: model is not significant
h1: model is significant
With F=87.43, p<5%, I reject ho and conclude that the model is significant.

5)
when x= 3012,
predicted Y = 748.65179 + 1.6362*3012 = 5676.88619

procedure
data -> data analysis -> regression

regression 1: dependent variable: Daily Gross Revenue
independent variable: Number of Tourists

regression 2: dependent variable: Daily Gross Revenue
independent variable: Daily Tour Income

output
regression 1:

SUMMARY OUTPUT

Regression Statistics
Multiple R	0.699382402
R Square	0.489135744
Adjusted R Square	0.479311431
Standard Error	1543.231194
Observations	54

ANOVA
	df	SS	MS	F	Significance F
Regression	1	118573929.8	1.19E+08	49.78829188	4.02752E-09
Residual	52	123841250.9	2381563
Total	53	242415180.7

	Coefficients	Standard Error	t Stat	P-value	Lower 95%	Upper 95%	Lower 95.0%	Upper 95.0%
Intercept	1408.526138	566.125925	2.488009	0.016088648	272.5113593	2544.541	272.5114	2544.541
Number of Tourists	12.68245322	1.797378968	7.056082	4.02752E-09	9.075748453	16.28916	9.075748	16.28916

regression 2:

SUMMARY OUTPUT

Regression Statistics
Multiple R	0.791878228
R Square	0.627071127
Adjusted R Square	0.619899418
Standard Error	1318.533714
Observations	54

ANOVA
	df	SS	MS	F	Significance F
Regression	1	152011560.6	1.52E+08	87.43677682	1.00186E-12
Residual	52	90403620.06	1738531
Total	53	242415180.7

	Coefficients	Standard Error	t Stat	P-value	Lower 95%	Upper 95%	Lower 95.0%	Upper 95.0%
Intercept	748.6517999	500.552028	1.495652	0.140789091	-255.7793278	1753.083	-255.779	1753.083
Daily Tour Income	1.636240094	0.174984653	9.350763	1.00186E-12	1.285107699	1.987372	1.285108	1.987372

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