Answered: Airbnb is an online marketplace used by…

Intermediate Algebra

10th Edition

ISBN:9781285195728

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter10: Systems Of Equations

Section10.S: Summary

Problem 6S

See similar textbooks

Related questions

Question

Airbnb is an online marketplace used by many travelers when booking lodging all over the world. The company serves as a broker, receiving commissions from each booking. Guests have the opportunity to give a review to their host once their lodging is complete. New York City (NYC) is known for high lodging prices.

We took a random sample of 343 Airbnb listings and recorded many variables including price per night (in dollars) and number of reviews (count). We would like to study the relationship between number of reviews (counts) and price (in dollars) for all Airbnb listing in NYC. Using regression, we would like to explore if the number of reviews (explanatory variable) has an effect on the listed price per night (response).

Use the given scatterplot and complete a description for the relationship between the number of reviews (count) and price ($) using appropriate context.

Scatterplot of Number of Reviews vs the Price
for a Sample of 343 AirBnBs
00
100
200
300
400
The Number of Reviews (a count)
009
009
008
007
001
Price (in $)

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Research Ethics$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.

Recommended textbooks for you

Intermediate Algebra

Algebra

ISBN:

9781285195728

Author:

Jerome E. Kaufmann, Karen L. Schwitters

Publisher:

Cengage Learning