Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

Calculating the correlation and testing a correlation coefficient's significance

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?

Day

Income

Occupied

1

1452

23

2

1361

47

3

1426

21

4

1470

39

5

1456

37

6

1430

29

7

1354

23

8

1442

44

9

1394

45

10

1459

16

11

1399

30

12

1458

42

13

1537

54

14

1425

27

15

1445

34

16

1439

15

17

1348

19

18

1450

38

19

1431

44

20

1446

47

21

1485

43

22

1405

38

23

1461

51

24

1490

61

25

1426

39

 

Utilize a statistical software package to answer the following problems.

1.     a.    Does the breakfast revenue seem to increase as the number of occupied room's increases? Draw a scatter diagram to support your conclusion.

 

2.      b.    Determine the coefficient of correlation between the two variables. Interpret the value.

 

3.    c.   Is it reasonable to conclude that there is a positive relationship between revenue and occupied rooms? Use the .10 significance level.

 

4.      d.     What percent of the variation in revenue in restaurant is accounted for by the number of rooms occupied?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M918094

Have any Question? 


Related Questions in Statistics and Probability

The problems on this assignment require you to find and

The problems on this assignment require you to find and compare survival between groups. Answer all questions specified on the problem but if you see something interesting and want to do more analysis please report it as ...

A medical inspector wants to estimate the overall average

A medical inspector wants to estimate the overall average monthly occupancy rates of the cancer wards in 80 different hospitals that are evenly located in the northwestern, southeastern, central, and southern suburbs on ...

A poisson random variable has a pmf of the formk 012a find

A Poisson random variable has a PMF of the form k = 0,1,2..... (a) Find the characteristic function  (b) Find the first three nonzero terms in the Taylor series expansion of   (c) Use the results of part (b) to find the ...

Letnbspbe a random process whose psd is shown in the

Let  be a random process whose PSD is shown in the accompanying figure. A new process is formed by multiplying  by a carrier to produce   Find and sketch the PSD of the processY(t)

Letnbspnbsp be a sequence of iid random variables uniformly

Let   , be a sequence of IID random variables uniformly distributed over Suppose we form the sum   First, find the mean and variance of . Then write a MATLAB program to estimate the PDF of . Compare the estimated PDF wit ...

For the high-pass rc network shown letnbspnbspis white wss

For the high-pass RC network shown, let   is white, WSS, Gaussian noise and   is a random variable uniformly distributed over Assuming zero initial conditions: (a) Find the output mean and variance. (b) Find and plot the ...

Consider a game of nim in which the players have some

Consider a game of Nim in which the players have some number of chips in their pockets. A legal move is either one of the usual legal moves of Nim, or involves moving some positive number of chips from the player's pocke ...

You are employed as a statistician for a company that makes

You are employed as a statistician for a company that makes household products, which are sold by part-time salespersons who work during their spare time. The company has four salespersons employed in a small town. Let u ...

Let be a random variable that follows a poisson

Let be a random variable that follows a Poisson distribution, so that for some constant α its PMF is Let be another random variable that, given  M =m , is equally likely to take on any value in the set  (a) Find the join ...

Two students play the following game two dice are tossed if

Two students play the following game. Two dice are tossed. If the sum of the numbers showing is less than 7, student A collects a dollar from student B. If the total is greater than 7, then student B collects a dollar fr ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate