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b. What does the scatter diagram developed in part (a) indicate about the relationship between the tvo variables? The scatter diagram indicates a positive linear relationship between the hotel room rate and the amount spent on entertainment. c. Develop the least squares estimated regression equation. Entertainment = I d. Provide an interpretation for the slope of the estimated regression equation (to 3 decimals). The slope of the estimated regression line is approximately 1.0504 O. So, for every dollar increse entertainment increases by $ 150 ]+ 150 Room Rate (to 4 decimals) in the hotel room rate the amount spent on e. The average room rate in Chicago is $128, considerably higher than the U.S. average. Predict the entertainment expense per day for Chicago (to whole number). $ 150

b. What does the scatter diagram developed in part (a) indicate about the relationship between the tvo variables? The scatter diagram indicates a positive linear relationship between the hotel room rate and the amount spent on entertainment. c. Develop the least squares estimated regression equation. Entertainment = I d. Provide an interpretation for the slope of the estimated regression equation (to 3 decimals). The slope of the estimated regression line is approximately 1.0504 O. So, for every dollar increse entertainment increases by $ 150 ]+ 150 Room Rate (to 4 decimals) in the hotel room rate the amount spent on e. The average room rate in Chicago is $128, considerably higher than the U.S. average. Predict the entertainment expense per day for Chicago (to whole number). $ 150

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.6: Regression And Median-fit Lines
Problem 2CYU
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Hotel Room Entertainment Rate (S) Part a. Use the area belowto draw a scatter diagram. City Boston (5) 144 159 Denver 100 104 Chart Title Nashville 88 99 180 New Orleans Phoenix San Diego 110 92 142 160 100 140 105 122 120 San Francisco 135 166 100 San Jose 91 141 80 Tampa 80 99 60 40 20 20 40 60 80 100 120 140 160 H • Series1 Part c. Formula =SLOPE (C2C 10,B2:B10) Slope 1.0504 Intercept 15.4858 |=IN TERCEPT(C2:C10, B2 B10) Part e. Room Rate in Chicago 128 Entertainment Expense for Chicago 150 =G23+G21*G26
Transcribed Image Text:Hotel Room Entertainment Rate (S) Part a. Use the area belowto draw a scatter diagram. City Boston (5) 144 159 Denver 100 104 Chart Title Nashville 88 99 180 New Orleans Phoenix San Diego 110 92 142 160 100 140 105 122 120 San Francisco 135 166 100 San Jose 91 141 80 Tampa 80 99 60 40 20 20 40 60 80 100 120 140 160 H • Series1 Part c. Formula =SLOPE (C2C 10,B2:B10) Slope 1.0504 Intercept 15.4858 |=IN TERCEPT(C2:C10, B2 B10) Part e. Room Rate in Chicago 128 Entertainment Expense for Chicago 150 =G23+G21*G26
Hotel Room Rate (S) b. What does the scatter diagram developed in part (a) indicate about the relationship between the two variables? The scatter diagram indicates a positive vO linear relationship between the hotel room rate and the amount spent on entertainment. c. Develop the least squares estimated regression equation. Entertainment = || + 150 * Room Rate (to 4 decimals) d. Provide an interpretation for the slope of the estimated regression equation (to 3 decimals). The slope of the estimated regression line is approximately 1.0504 V. So, for every dollar increase O in the hotel room rate the amount spent on entertainment increases by $ 150 e. The average room rate in Chicago is $128, considerably higher than the U.S. average. Predict the entertainment expense per day for Chicago (to whole number). $ 150
Transcribed Image Text:Hotel Room Rate (S) b. What does the scatter diagram developed in part (a) indicate about the relationship between the two variables? The scatter diagram indicates a positive vO linear relationship between the hotel room rate and the amount spent on entertainment. c. Develop the least squares estimated regression equation. Entertainment = || + 150 * Room Rate (to 4 decimals) d. Provide an interpretation for the slope of the estimated regression equation (to 3 decimals). The slope of the estimated regression line is approximately 1.0504 V. So, for every dollar increase O in the hotel room rate the amount spent on entertainment increases by $ 150 e. The average room rate in Chicago is $128, considerably higher than the U.S. average. Predict the entertainment expense per day for Chicago (to whole number). $ 150
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