Question

A suburban hotel derives its revenue 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.

2. Determine the coefficient of correlation between the two variables. (Round your answer to 3 decimal places.)

1. c-1. State the decision rule for 0.10 significance level: H₀: ρ ≤ 0; H₁: ρ > 0. (Round your answer to 3 decimal places.)

2. c-2. Compute the value of the test statistic. (Round your answer to 2 decimal places.)

3. c-3. Is it reasonable to conclude that there is a positive relationship between revenue and occupied rooms? Use the 0.10 significance level.

Answer 1

Answer:

HERE , IN THE ABOVE QUESTION SOME DATA IS MISSING IAM ASSUMING THE DATA TO SOLVING THIS PROBLEM .

I HOPE YOUR SATISFY WITH THIS ANSWER

(a)

Independent variable (X): Revenue

Dependent variable (Y): Occupied

Following table shows the calculations:

	X	Y	X^2	Y^2	XY
	1452	31	2108304	961	45012
	1361	30	1852321	900	40830
	1426	31	2033476	961	44206
	1470	33	2160900	1089	48510
	1456	31	2119936	961	45136
	1430	33	2044900	1089	47190
	1354	32	1833316	1024	43328
	1442	32	2079364	1024	46144
	1394	30	1943236	900	41820
	1459	29	2128681	841	42311
	1399	31	1957201	961	43369
	1458	32	2125764	1024	46656
	1537	33	2362369	1089	50721
	1425	32	2030625	1024	45600
	1445	33	2088025	1089	47685
	1439	30	2070721	900	43170
	1348	30	1817104	900	40440
	1450	31	2102500	961	44950
	1431	33	2047761	1089	47223
	1446	34	2090916	1156	49164
	1485	30	2205225	900	44550
	1405	30	1974025	900	42150
	1461	31	2134521	961	45291
	1490	34	2220100	1156	50660
	1426	31	2033476	961	44206
Total	35889	787	51564767	24821	1130322

(c-1)

(c-2)

(c-3)

Conclusion: It is reasonable to conclude that there is a positive relationship between revenue and occupied rooms.

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