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Westar beverage - Statistics Project Example

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Regression analysis, as a statistical tool, provides a basis for establishing relationships among variables. Such relationships can then be used make predictions subject to some…
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Westar beverage
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Download file to see previous pages alysis corresponds to the hotel’s monthly sales for both pub and nightclub, sales for the club, sales for the pub, total expenditure for the hotel, expenditure for the nightclub, expenditure for the pub, and room occupancy in the hotel. Using excel, regression analysis generates the following tables with coefficients.
From the regression statistics, the high value of adjusted R square indicates that the regression model explains a high percentage of the considered data, more than 95 %. The model can therefore be used to predict beverage sales. The lower significance value from the ANOVA table, 0 relative to 0.05, also indicates that there exist significant relationship between beverage sales and the other variables. Further, the table of coefficients confirms that significant relationship exists between beverage sales and sales for the pub and sales for the nightclub.
The hotel’s volume of sales equally depends on its two branches, pub, and club. Research into forecasting should therefore be diversified to investigate factors affecting sales in the two branches of the ...Download file to see next pagesRead More
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