Question

In exercise 12, the following data on x = average daily hotel room rate and y = amount spent on entertainment (The Wall Street Journal, August 18, 2011) lead to the estimated regression equation ŷ = 17.49 + 1.0334x. For these data SSE = 1541.4. Click on the webfile logo to reference the data. a. Predict the amount spent on entertainment for a particular city that has a daily room rate of $89 (to 2 decimals). $ b. Develop a 95% confidence interval for the mean amount spent on entertainment for all cities that have a daily room rate of $89 (to 2 decimals). $ to $ c. The average room rate in Chicago is $128. Develop a 95% prediction interval for the amount spent on entertainment in Chicago (to 2 decimals). $ to $

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Question 7 of 10

Exercise 12.39

Answer 1

a). 109.46

b). 95% CI= (94.85, 124.08)

c). 95% PI = (110.69, 188.84)

Regression Analysis
	r²	0.740	n	9
	r	0.860	k	1
	Std. Error	14.839	Dep. Var.	Entertainment
ANOVA table
Source	SS	df	MS	F	p-value
Regression	4,378.5778	1	4,378.5778	19.88	.0029
Residual	1,541.4222	7	220.2032
Total	5,920.0000	8
Regression output				confidence interval
variables	coefficients	std. error	t (df=7)	p-value	95% lower	95% upper
Intercept	17.4915	24.8314	0.704	.5039	-41.2255	76.2084
Roomrate	1.0334	0.2318	4.459	.0029	0.4854	1.5814
Predicted values for: Entertainment
		95% Confidence Intervals	95% Prediction Intervals
Roomrate	Predicted	lower	upper	lower	upper	Leverage
89	109.465	94.847	124.083	71.453	147.478	0.174
128	149.769	132.574	166.964	110.693	188.844	0.240

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