This question has three (3) parts: What are the guidelines Porter gave us for defining an industry for an Industry Analysis? Using the above, pick another MBA (or relevant graduate) program that is in the same industry as your program at the Carlson School of Management. Briefly explain why you believe this to be true Now pick another MBA (or relevant graduate) program that is not in the same industry as your program at the Carlson School of Management. Briefly explain why you believe this to be true.

A company models the relationship between advertising spend (in $1,000s) and monthly sales revenue (in $1,000s) using the equation: Sales = 5 + 2 × AdSpend What does the coefficient “2” represent?

A hotel chain ran multiple regression to predict nightly revenue per room ($) using three predictors: average room rate ($), occupancy rate (%), and number of events booked in the city that night. Data covers 120 nights across 5 properties. Below is the summarized output Regression Statistics R-squared 0.89 Adjusted R-squared 0.88 F-statistic 316.4 p-value (F-test) 0.0000 Observations 120   Variable Coefficient p-value Intercept −18.40 0.214 Average Room Rate ($) 0.93 0.0000 Occupancy Rate (%) 1.12 0.0003 City Events (count) 3.85 0.162 How should the revenue manager interpret the coefficient of 1.12 for Occupancy Rate?

A coffee shop chain wants to predict daily revenue ($) based on foot traffic (number of customers per day). Simple linear regression was run on 60 days of data. Below is the summarized output. Regression Statistics R-squared 0.81 F-statistic 248.6 p-value (F-test) 0.0000 Observations 60 What does the F-test result (F = 248.6, p = 0.0000) indicate about this regression model?

A hotel chain ran multiple regression to predict nightly revenue per room ($) using three predictors: average room rate ($), occupancy rate (%), and number of events booked in the city that night. Data covers 120 nights across 5 properties. Below is the summarized output Regression Statistics R-squared 0.89 Adjusted R-squared 0.88 F-statistic 316.4 p-value (F-test) 0.0000 Observations 120 Variable Coefficient p-value Intercept −18.40 0.214 Average Room Rate ($) 0.93 0.0000 Occupancy Rate (%) 1.12 0.0003 City Events (count) 3.85 0.162 The VP of Operations asks whether the hotel should invest in lobbying city officials to attract more events, citing the coefficient of 3.85 for City Events. What is the most statistically sound response?

A coffee shop chain wants to predict daily revenue ($) based on foot traffic (number of customers per day). Simple linear regression was run on 60 days of data. Below is the summarized output. Variable Coefficient p-value Intercept 142.50 0.031 Foot Traffic (customers/day) 4.75 0.0000 The store manager asks: “What does the intercept of 142.50 mean in plain business terms?”

A restaurant company estimates the following simple regression equation: Ŷ = 12 + 3X where: Y = Customer Spending ($) X = Age (years) Which interpretation is correct?

Small Company collected $[amount]0,000 in advance from customers on [date]/1, Year 1 for services to be performed over the following [mon] months.  Calculate the adjustment at the end of Year 1 to record recognized revenue. Enter answer as a whole number (round to the nearest whole number if needed, no decimals) and without a dollar sign (i.e., 4,250).

As discussed in the Chapter Lectures: Debits mean [dr].  Credits mean [cr]. 

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