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## Statistics

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

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