A suburban hotel derives its revenue from its hotel and restaurant operations. Theowners are interested in the relationship between the number of rooms occupied on anightly basis and the revenue per day in the restaurant. Below is a sample of 25 days(Monday through Thursday) from last year showing the restaurant income and numberof rooms occupied. 40. FILE A suburban hotel derives its revenue from its hotel and restaurant operations. Theowners are interested in the relationship between the number of rooms occupied on anightly basis and the revenue per day in the restaurant. Below is a sample of 25 days(Monday through Thursday) from last year showing the restaurant income and numberof rooms occupied.DayRevenueOccupledDayRevenueOcupled1$1,4522314$1,4252721,36147151,4453431,42621161,4391541,47039171,348191,45637181,450386.1,43029191,4314471,35423201,446471,44244211,485431,39445221,40538101,45916231,46151111,39930241,49061121,45842251,42639131,53754Use a statistical software package to answer the following questions.a. Does the revenue seem to increase as the number of occupied rooms increases?Draw a scatter diagram to support your conclusion.b. Determine the correlation coefficient between the two variables. Interpret the value.c. Is it reasonable to conclude that there is a positive relationship between revenue andoccupied rooms? Use the.10 significance level.d. What percent of the variation in revenue in the restaurant is accounted for by thenumber of rooms occupied?

Name: A suburban hotel derives its revenue from its hotel and restaurant ope
Uploaded: 2024-03-20T07:06:27.000Z
Channel: Bartleby
Description: A suburban hotel derives its revenue from its hotel and restaurant operations. Theowners are interested in the relationship between the number of rooms occupied on anightly basis and the revenue per day in the restaurant. Below is a sample of 25 days

Occupied (X) Revenue (Y) (x-xbar) (x-xbar)^2 (y-ybar) (y-ybar)^2 (x-xbar)*(y-ybar) 23 1452 -13.24…

Math

Statistics

Use a statistical software package to answer the following questions. a. Does the revenue seem to increase as the number of occupied rooms increases? Draw a scatter diagram to support your conclusion. b. Determine the correlation coefficient between the two variables. Interpret the value. c. Is it reasonable to conclude that there is a positive relationship between revenue and occupied rooms? Use the.10 significance level. d. What percent of the variation in revenue in the restaurant is accounted for by the number of rooms occupied?

Use a statistical software package to answer the following questions. a. Does the revenue seem to increase as the number of occupied rooms increases? Draw a scatter diagram to support your conclusion. b. Determine the correlation coefficient between the two variables. Interpret the value. c. Is it reasonable to conclude that there is a positive relationship between revenue and occupied rooms? Use the.10 significance level. d. What percent of the variation in revenue in the restaurant is accounted for by the number of rooms occupied?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter4: Equations Of Linear Functions

Section: Chapter Questions

Problem 8SGR

See similar textbooks