The Manager of a Fast Food Restaurant Wants to Determine

question 74

Essay

The manager of a fast food restaurant wants to determine how sales in a given week are related to the number of discount vouchers (#) printed in the local newspaper during the week. The number of vouchers and sales ($000s) from 10 randomly selected weeks is given below with Excel regression output. $$\begin{array} { | c | c | } \hline \text { Number of vouchers } & \text { Sales } \\\hline 4 & 12.8 \\\hline 7 & 15.4 \\\hline 5 & 13.9 \\\hline 3 & 11.2 \\\hline 19 & 18.7 \\\hline 10 & 17.9 \\\hline 8 & 16.8 \\\hline 6 & 15.9 \\\hline 3 & 11.5 \\\hline 5 & 13.9 \\\hline\end{array}$$ $\begin{array}{|l|c|c|c|c|c|l|}\hline \text { SUMMARY OUTPUT } & \\\hline & \\\hline \text { Regression Statistics } & \\\hline \text { Multiple R } & 0.8524 \\\hline \text { R Square } & 0.7267 \\\hline \text { Adjusted R Square } & 0.6925 \\\hline \text { Standard Error } & 1.4301 \\\hline \text { Observations } & 10 \\\hline & \\\hline \text { ANOvA } & & & & & & \\\hline & d f & S S & M S & F & \text { Significance } F & \\\hline \text { Regression } & 1 & 43.4982 & 43.4982 & 21.2682 & 0.0017 & \\\hline \text { Residual } & 8 & 16.3618 & 2.0452 & & & \\\hline \text { Total } & 9 & 59.8600 & & & & \\\hline\\\hline & \text { Coeficients } & \begin{array}{c}\text { Standard } \\\text { Error }\end{array} & t \text { Stat } & \text { P-value } & \text { Lower } 95 \% & \begin{array}{c}\text { Upper } \\95 \%\end{array} \\\hline \text { Intercept } & 11.5676 & 0.8341 & 13.8679 & 0.0000 & 9.6441 & 13.4912 \\\hline \text { Number of vouchers } & 0.4618 & 0.1001 & 4.6117 & 0.0017 & 0.2309 & 0.6927 \\\hline\end{array}$ Interpret the coefficient of correlation.

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Definitions:

Human Cochlea

A spiral-shaped, fluid-filled inner ear structure, essential for converting sound wave vibrations into electrical signals for the brain.

Approximately

Used to indicate that a number is not exact, but close to a certain value.

Hyperpolarization

An increase in a cell's membrane potential, making it more negative and less likely to fire an action potential.

Neurotransmitter Release

The process by which neurons release chemical messengers into the synaptic cleft, allowing them to communicate with adjacent cells.