A Manager at a Ski Resort in Vermont Wanted to Determine

question 81

Essay

A manager at a ski resort in Vermont wanted to determine the effect that weather had on its sales of lift tickets.The manager of the resort collected data over the last 20 years on the number of lift tickets sold during Christmas week (y),the total snowfall in inches (x₁),and the average temperature in degrees Fahrenheit (x₂).The results of the regression are:
A)Predict the number of lift tickets sold if during Christmas week,the total snowfall was 25 inches and the average temperature was 35 degrees Fahrenheit.
B)Interpret the slope coefficient attached to Snowfall.
C)Calculate the standard deviation of the difference between the actual number of tickets sold and the estimate of the number of tickets sold.
D)Calculate and interpret the coefficient of determination.
E)Calculate the adjusted R².

• A)Predict the number of lift tickets sold if during Christmas week,the total snowfall was 25 inches and the average temperature was 35 degrees Fahrenheit.
• B)Interpret the slope coefficient attached to Snowfall.
• C)Calculate the standard deviation of the difference between the actual number of tickets sold and the estimate of the number of tickets sold.
• D)Calculate and interpret the coefficient of determination.
• E)Calculate the adjusted R².

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Definitions:

Dividends Declared

Profits announced by a company's board of directors to be distributed among shareholders.

Legal Capital

The minimum amount of equity that a company must maintain to protect creditors, often required by law.

Share Capital

The total amount of money raised by a company through the sale of shares to shareholders; represents the equity funding of the business.

Stock Dividends

A form of dividend paid by a company to its shareholders in the form of additional shares, rather than cash.