Travel + Leisure magazine provides an annual list of the 500 best hotels in the world. The magazine provides a rating for each hotel along with a brief description that includes the size of the hotel, amenities, and the cost per night for a double room. A sample of 12 of the top-rated hotels in the United States follows. a. What is the mean number of rooms? b. What is the mean cost per night for a double room? c. Develop a scatter diagram with the number of rooms on the horizontal axis and the cost per night on the vertical axis. Does there appear to be a relationship between the number of rooms and the cost per night? Discuss. d. What is the sample correlation coefficient? What does it tell you about the relationship between the number of rooms and the cost per night for a double room? Does this appear reasonable? Discuss.

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STATISTICS F/BUSINESS+ECONOMICS-TE...

13th Edition
Anderson
Publisher: CENGAGE L
ISBN: 9781305881884
BuyFind

STATISTICS F/BUSINESS+ECONOMICS-TE...

13th Edition
Anderson
Publisher: CENGAGE L
ISBN: 9781305881884

Solutions

Chapter 3, Problem 70SE
Textbook Problem

Travel + Leisure magazine provides an annual list of the 500 best hotels in the world. The magazine provides a rating for each hotel along with a brief description that includes the size of the hotel, amenities, and the cost per night for a double room. A sample of 12 of the top-rated hotels in the United States follows.

Chapter 3, Problem 70SE, Travel + Leisure magazine provides an annual list of the 500 best hotels in the world. The magazine

  1. a. What is the mean number of rooms?
  2. b. What is the mean cost per night for a double room?
  3. c. Develop a scatter diagram with the number of rooms on the horizontal axis and the cost per night on the vertical axis. Does there appear to be a relationship between the number of rooms and the cost per night? Discuss.
  4. d. What is the sample correlation coefficient? What does it tell you about the relationship between the number of rooms and the cost per night for a double room? Does this appear reasonable? Discuss.

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Chapter 3 Solutions

STATISTICS F/BUSINESS+ECONOMICS-TEXT
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