FIU MAN4504 project 1

MAN 4504 Project 1
Guidelines
Page 1Title of
paperStudent NameStudent
course number and course nameSemester and
yearName of
UniversityName of
Professor – correctly spelledVisible
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

Double
spaced,Fonts: Times
Roman or ArielFont size:
12Font color :
blackMargins
should be 1″ either sideSpell
checkedMS WordAny other
applications should be from the MS familyCBA does not
support Visio or WordPerfectProject 1 needs to be emailed
by by deadlineProject 1 must be presented
in ONE fileand saved as “yourname#project1.doc”
Project 1 must have a color
digital and visible photoof
yourself

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)