Question

In: Statistics and Probability

Run two different multiple regressions using excel. One should include two of the three idepenedent variables...

Run two different multiple regressions using excel. One should include two of the three idepenedent variables and the other should include all three variables. The first multiple regression equation is Gross Revenue = 766.981 + 2.977*Daily Tour Income - 12.31*Number of Tourists.

1. What is the second multiple regression equation?  

Would adding dummy variables for the three days for my second regression work? l  need 2 dummy variables since I have 3 categories (days, in this case). What would the equation look like? What's the regression table using excel?

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 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

Solutions

Expert Solution

Solution...

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...


Related Solutions

Run two different multiple regressions using excel. One should include two of the three idepenedent variables...
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...
Run two regressions using Excel from the data below. Find the following information: 1. estimated regression...
Run two regressions using Excel from the data below. Find the following information: 1. estimated regression equations for both regressions 2. both coefficients of determination. 3. significance of each independent variable 4.Report the significance of both models. 5.Predict y for a fictitious set of x values for both 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...
If you have two regressions with intercept, one with one explanatory variable (X), and another one with two explanatory variables (X and Z), the t statistic of the intercept will have the same value in both regressions.
If you have two regressions with intercept, one with one explanatory variable (X), and another one with two explanatory variables (X and Z), the t statistic of the intercept will have the same value in both regressions.TrueFalse
You are comparing the regression output across two publicly-traded companies. Both regressions were run using monthly...
You are comparing the regression output across two publicly-traded companies. Both regressions were run using monthly data for 5 years and against the S&P500 with the returns on each company’s stock as the independent variable. Nero Cannery Rand Foods Intercept 0.15% 0.45% R-squared 20% 35% Slope 1.20 1.10 1.If the implied equity risk premium with a constant dividend growth rate and based on a broad U.S. stock market index is equal to 8% and the risk-free rate is 2%, what...
Is at least one of the two variables (weight and horsepower) significant in the model? Run...
Is at least one of the two variables (weight and horsepower) significant in the model? Run the overall F-test and provide your interpretation at 5% level of significance. See Step 5 in the Python script. Include the following in your analysis: Define the null and alternative hypothesis in mathematical terms and in words. Report the level of significance. Include the test statistic and the P-value. (Hint: F-Statistic and Prob (F-Statistic) in the output). Provide your conclusion and interpretation of the...
The multiple regressions serve to explain the behavior of one variable (dependent variable) though a set...
The multiple regressions serve to explain the behavior of one variable (dependent variable) though a set of some explanatory variables for which we can find a logical/theoretically founded relationship with the dependent variable. Please discuss three business situations (either real or a business situation) with proposed set of 5 explanatory variable. Could you define the expected sign (positive or negative) of these selected explanatory variables? As e have discussed the usage of the dummy variables propose at least in one...
MULTIPLE CHOICE: P (Z > 2) should be calculated in Excel using which functions below (a)...
MULTIPLE CHOICE: P (Z > 2) should be calculated in Excel using which functions below (a) = NORM.DIST(2,0,1,TRUE) (b) =1−NORM.DIST(2,0,1,TRUE) (c) = NORM.S.DIST(2,TRUE) (d) =1−NORM.S.DIST(2,TRUE) (e) b and d (f) a and c
What are the differences between results that demonstrate a correlation between two variables and results where a regression is run using two variables?
What are the differences between results that demonstrate a correlation between two variables and results where a regression is run using two variables? Think about your future clinical role and provide a clinical example of variables that you may want a correlation analysis run and explain. Think about your future clinical role and provide a clinical example of variables that you may want a regression analysis run and explain.
Using Excel to Construct event dummy (or binary) variables to represent three international events : (i)...
Using Excel to Construct event dummy (or binary) variables to represent three international events : (i) The Asian financial crisis – one from Aug 1997 to Jul 1998, zero otherwise. (ii) The Global Financial Crisis (GFC) – one from Feb 2007 to Feb 2009, zero otherwise. (iii) Covid-19– one from Jan 2020 to Mar 2020, zero otherwise.
Assume you run a regression on two different models (sets of independent variables). The first model...
Assume you run a regression on two different models (sets of independent variables). The first model results in an ?2R2 of 0.60 and the second model results in an ?2R2 of 0.64. This would mean that Select one: a. The independent variables in the first model are not statistically significant, despite what the t-stats and p-values suggest. b. The second model has better overall explanatory power, but a better ?2R2 is only gained at the expense of other factors. The...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT