1 you are considering opening an estonian cuisine, Ask an Expert

Accounting

1. You are considering opening an Estonian cuisine restaurant and wonder how much people in your target community spend on eating out relative to their incomes. You commission a telephone survey and build the following regression model for individual respondents:

EatOut$>wk = 17.28 + 0.354 HHIncome where household income is in $1000's. Write an interpretation of this model.

2. For the model found in Exercise 1, predict how much a person with a household income of $75,000 would be ex- pected to spend eating out in a week.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91724830

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