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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

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Section
BuyFindarrow_forward

STATISTICS F/BUSINESS+ECONOMICS-TE...

13th Edition
Anderson
Publisher: CENGAGE L
ISBN: 9781305881884
Chapter 3, Problem 70SE
Textbook Problem
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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.

a.

To determine

Find the mean number of rooms.

Explanation of Solution

Calculation:

The given information is that the data represent the sample of 12 of the top-rated hotels in the United States.

Software Procedure:

Step by step procedure to obtain the mean using the MINITAB software:

  • Choose Stat > Basic Statistics > Display Descriptive Statistics.
  • In Variables enter the columns Rooms...

b.

To determine

Find the mean cost per night for a double room.

c.

To determine

Draw the scatter diagram with the number of rooms on the horizontal axis and the cost per night on the vertical axis and check whether there exists a relationship between the number of rooms and the cost per night.

d.

To determine

Find the sample correlation coefficient and to explain the relationship between the number of rooms and the cost per night for a double room and also check whether it is reasonable or not.

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