FIU MAN4504 project 1
MAN 4504 Project 1 Guidelines
- Page 1
- Title of paper
- Student Name
- Student course number and course name
- Semester and year
- Name of University
- Name of Professor - correctly spelled
- Visible digital photo of group members
2. Page 2 Table of contents
3. Pages 3 - 5 Main body guideline - which means your paper can be in total from 3 pages to 5 pages or even longer.
|
Paper should be |
|
Project 1 Problem
For this project you can use EXCEL for calculations and then cut and paste into Word document.
Miami 305 Cafe is a cafe that serves soft drinks and food at moderate prices. Over time, the company has found that its dollar volume is dependent on the Miami Cafe's payroll. The following table lists Miami Cafe's revenues and the payroll for the years 2010 - 2014.
|
|
MIAMI CAFÉ |
|
|
|
Year |
Miami Café Sales |
|
Payroll |
|
2010 |
$ 2,000.00 |
|
$ 120.00 |
|
2011 |
$ 3,000.00 |
|
$ 350.00 |
|
2012 |
$ 2,500.00 |
|
$ 400.00 |
|
2013 |
$ 2,250.00 |
|
$ 225.00 |
|
2014 |
$ 2,300.00 |
|
$ 115.00 |
a. Plot data to determine whether there is a straight- line (linear) relationship.
b. Using Microsoft Excel determine estimated regression equation (please show all necessary steps tin detail in order get to regression equation)
c. If management predicts that Miami Cafe's payroll next year will be $625, what will be the estimated sales?
d. Calculate standard error of the estimate (show all your work)
e. Calculate the coefficient of correlation (show your work)
-
Rating:
/5
Solution: FIU MAN4504 project 1