40. A suburban hotel derives its gross income from its hotel and restaurant operations. The owners are interested in the relationship between the number of rooms occupied on a nightly 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 number of rooms occupied.
see chart on the attachment( pg. 499)
Use a statistical software package to answer the following questions.
a. Does the breakfast revenue seem to increase as the number of occupied rooms increases? Draw a scatter diagram to support your conclusion.
b. Determine the coefficient of correlation 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.
Recently Asked Questions
- How crime is defined/conceptualised in our modern society and the main problems and challenges associated with attempts to define crime? Please.
- Please refer to the attachment to answer this question. This question was created from Econ_5315_Quiz_2_Spring_2015.