Regression Model Assignment

Note:

1. Complete all the questions and submit in hard copy and through LMS.
2. All assignments must carry the worksheets in Regression or any other software used like POMQM
3. All the excel sheets or graphs when used must be attached with assignment
4. All questions are Compulsory
5. Any form of plagiarism is not acceptable.

QI. A) Explain What precautions must be taken while using a quantitative analysis approach in solving a situation? Comment on how qualitative inputs assist in arriving at logical decisions. 5 marks KI

Q2. Read the case on Food and Beverages at Southwestern University Football Games on page 37 of textbook Quantitative Analysis for Management-thirteen edition by Barry Render et. al. and answer the following questions:

Calculate the break-even for each of the item and make a brief report about the most appropriate decision that they may consider. 10 marks K2 5 marks, S4 applied knowledge 5 marks

Q3. The total Expenses of a hospital are related to many factors. Two of these factors are the number of beds in the hospital and the number of admissions. Data were collected on 14 hospitals, as shown in the table below:

Find the best regression model to predict the total expenses of a hospital. Discuss the accuracy of this model. Should both variables be included in the model? Why or why not? 5 marks

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