Follow the instructions under the title of “Using Excel’s Regression Tool for the Armand’s Pizza Parlors Example” to develop regression equation and ANOVA table as in Figure 14.13 and answer the...

Follow the instructions under the title of “Using Excel’s Regression Tool for the Armand’s Pizza Parlors Example” to develop regression equation and ANOVA table as in Figure 14.13 and answer the following questions:

1. Open the dataset of Armand’s (attached).


2. Follow the instructions under the title of “Using Excel’s Regression Tool for the Armand’s Pizza Parlors Example” to develop regression equation and ANOVA table as in Figure 14.13 (attached).


3. Upload the Figure 14.13.


4. What is the estimated regression equation?


5. Conduct the hypothesis test to test for significance of regression. Can we conclude that there is a significant relationship between student population and sales? Provide the rationale for your answer.

Extracted text: 11:31 Armand's.xlsx Restaurant Population Sales 1 2 58 2 6. 105 3 8 88 4 8. 118 5 12 117 6. 16 137 7 20 157 8 20 169 9 22 149 10 26 202


Extracted text: 11:32 Fig 14.13.pdf 1 of 1 14.7 Excel's Regression Tool 647 FIGURE 14.13 Regression Tool Output for Armand's Pizza Parlors B Population D. E F G H Restaurant Sales 58 3 105 4 88 118 12 117 16 137 T 20 157 20 169 10 22 149 11 10 26 202 12 13 SUMMARY OUTPUT 14 Regression Statistics 0.9501 15 16 Multiple R 17 R Square 18 Adjusted R Square 19 Standard ErTor 0.9027 0.8906 13.8293 10 20 Observations 21 22 ANOVA Significance F 2.55E-05 23 df F S 14200 MS 24 Regression 25 Residual 26 Total 14200 74.2484 1530 191.25 9. 15730 27 Coefficients Upper 9596 Lower 99.096 Upper 99.0%% 81.2753 28 Standard Error Stat P-value Lower 9596 38.7247 3.6619 6.5033 29 Intercept 30 Population 60 9.2260 0.0002 2.55E-05 29.0431 90.9569 0.5803 8.6167 6.3381 3.0530 6.9470 31