In: Statistics and Probability
Run two different multiple regressions using excel. One should include two of the three idepenedent variables and the other should include all three variables. What are the regession equations?
Years | Weekend | Daily Tour Income | Daily Gross Revenue | Number of Tourists |
1 | Friday | 3378 | 4838.95 | 432 |
1 | Saturday | 1198 | 3487.78 | 139 |
1 | Sunday | 3630 | 4371.3 | 467 |
2 | Friday | 4550 | 6486.48 | 546 |
2 | Saturday | 2467 | 3437.39 | 198 |
2 | Sunday | 3593 | 4571.43 | 452 |
3 | Friday | 898 | 2515.15 | 119 |
3 | Saturday | 2812 | 5462.11 | 342 |
3 | Sunday | 2650 | 5498.89 | 321 |
4 | Friday | 3230 | 5071.14 | 402 |
4 | Saturday | 4798 | 8051.43 | 523 |
4 | Sunday | 3253 | 4291.95 | 353 |
5 | Friday | 2848 | 4545 | 347 |
5 | Saturday | 4632 | 8865.01 | 534 |
5 | Sunday | 3767 | 4710.64 | 412 |
6 | Friday | 4499 | 10752.74 | 529 |
6 | Saturday | 3868 | 6435.63 | 422 |
6 | Sunday | 2489 | 3389.37 | 288 |
7 | Friday | 3448 | 6129.58 | 367 |
7 | Saturday | 3612 | 7357.12 | 406 |
7 | Sunday | 1937 | 2121.76 | 216 |
8 | Friday | 2548 | 4738.86 | 294 |
8 | Saturday | 2833 | 4141.98 | 317 |
8 | Sunday | 2214 | 4878.35 | 284 |
9 | Friday | 1520 | 4102.49 | 169 |
9 | Saturday | 4322 | 8639.55 | 462 |
9 | Sunday | 1833 | 3946.71 | 203 |
10 | Friday | 2271.63 | 4236.31 | 235 |
10 | Saturday | 2407.88 | 5613.27 | 266 |
10 | Sunday | 1772.17 | 5580.17 | 182 |
11 | Friday | 1494 | 3833.52 | 177 |
11 | Saturday | 1998 | 3986.57 | 213 |
11 | Sunday | 1388 | 2721.56 | 165 |
12 | Friday | 1925 | 3952.19 | 190 |
12 | Saturday | 2695 | 6281.3 | 243 |
12 | Sunday | 1525 | 3356.14 | 172 |
13 | Friday | 1725 | 3822.59 | 187 |
13 | Saturday | 2450 | 4141.75 | 253 |
13 | Sunday | 1407.5 | 3312.41 | 173 |
14 | Friday | 2394 | 4571.5 | 242 |
14 | Saturday | 3012 | 6363.3 | 311 |
14 | Sunday | 2058 | 3502.22 | 239 |
15 | Friday | 2427 | 5881.13 | 267 |
15 | Saturday | 3189 | 10409.13 | 336 |
15 | Sunday | 2109 | 4955.05 | 178 |
16 | Friday | 2244 | 4347.41 | 184 |
16 | Saturday | 3195 | 4935.17 | 274 |
16 | Sunday | 1017 | 3486.27 | 114 |
17 | Friday | 3470 | 6290.99 | 325 |
17 | Saturday | 5323 | 13132.55 | 478 |
17 | Sunday | 2345 | 5014.45 | 242 |
18 | Friday | 1671 | 2740.23 | 177 |
18 | Saturday | 2321.94 | 4423.31 | 246 |
18 | Sunday | 1542 | 2650.48 | 182 |
Answer...
Here,
I have considered Daily Gross Revenue as the dependent variable and Daily Tour Income and Number of Tourists as the independent variables...
In this case, the Regression Equation is calculated as:
X1 = Daily Tour Income
X2 = Number of Tourists
So.
The regression equation is:
Gross Revenue = 766.981 + 2.977*Daily Tour Income - 12.31*Number of Tourists
Second Part:
Here, I shall consider weekend as a variable... Friday = 1, Saturday = 2 and Sunday = 3..
The data set is is shown below:
The regression output is:
The regression equation is:
Gross Revenue = 1111.8 - 151.22*Weekend + 2.933* Daily Tour Income - 12.04*Number of Tourists
End of the Solution...