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.
| Day | Revenue | Occupied | Day | Revenue | Occupied | ||||||||
| 1 | $ | 1,452 | 60 | 14 | $ | 1,425 | 31 | ||||||
| 2 | 1,361 | 20 | 15 | 1,445 | 51 | ||||||||
| 3 | 1,426 | 21 | 16 | 1,439 | 62 | ||||||||
| 4 | 1,470 | 80 | 17 | 1,348 | 45 | ||||||||
| 5 | 1,456 | 70 | 18 | 1,450 | 41 | ||||||||
| 6 | 1,430 | 29 | 19 | 1,431 | 62 | ||||||||
| 7 | 1,354 | 30 | 20 | 1,446 | 47 | ||||||||
| 8 | 1,442 | 21 | 21 | 1,485 | 43 | ||||||||
| 9 | 1,394 | 15 | 22 | 1,405 | 38 | ||||||||
| 10 | 1,459 | 36 | 23 | 1,461 | 36 | ||||||||
| 11 | 1,399 | 41 | 24 | 1,490 | 30 | ||||||||
| 12 | 1,458 | 35 | 25 | 1,426 | 65 | ||||||||
| 13 | 1,537 | 51 | |||||||||||
In: Statistics and Probability
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. Day Revenue Occupied Day Revenue Occupied 1 $ 1,452 32 14 $ 1,425 29 2 1,361 30 15 1,445 31 3 1,426 33 16 1,439 33 4 1,470 33 17 1,348 30 5 1,456 33 18 1,450 34 6 1,430 29 19 1,431 30 7 1,354 29 20 1,446 30 8 1,442 30 21 1,485 30 9 1,394 32 22 1,405 32 10 1,459 30 23 1,461 32 11 1,399 33 24 1,490 32 12 1,458 31 25 1,426 33 13 1,537 34
Click here for the Excel Data File
Choose the scatter diagram that best fits the data.
Scatter diagram 1 Scatter diagram 2 Scatter diagram 3
Scatter diagram 1 Scatter diagram 2 Scatter diagram 3
Determine the coefficient of correlation between the two variables. (Round your answer to 3 decimal places.)
c-1. State the decision rule for 0.05 significance level: H0: ρ ≤ 0; H1: ρ > 0. (Round your answer to 3 decimal places.)
c-2. Compute the value of the test statistic. (Round your answer to 2 decimal places.)
c-3. Is it reasonable to conclude that there is a positive relationship between revenue and occupied rooms? Use the 0.05 significance level. What percent of the variation in revenue in the restaurant is accounted for by the number of rooms occupied? (Round your answer to 1 decimal place.)
In: Statistics and Probability
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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. |
| Day | Income | Occupied | Day | Income | Occupied | ||||||||||
| 1 | $ | 1,452 | 20 | 14 | $ | 1,425 | 31 | ||||||||
| 2 | 1,361 | 20 | 15 | 1,445 | 51 | ||||||||||
| 3 | 1,426 | 21 | 16 | 1,439 | 62 | ||||||||||
| 4 | 1,470 | 80 | 17 | 1,348 | 45 | ||||||||||
| 5 | 1,456 | 70 | 18 | 1,450 | 41 | ||||||||||
| 6 | 1,430 | 29 | 19 | 1,431 | 62 | ||||||||||
| 7 | 1,354 | 70 | 20 | 1,446 | 47 | ||||||||||
| 8 | 1,442 | 21 | 21 | 1,485 | 43 | ||||||||||
| 9 | 1,394 | 15 | 22 | 1,405 | 38 | ||||||||||
| 10 | 1,459 | 36 | 23 | 1,461 | 36 | ||||||||||
| 11 | 1,399 | 41 | 24 | 1,490 | 30 | ||||||||||
| 12 | 1,458 | 35 | 25 | 1,426 | 65 | ||||||||||
| 13 | 1,537 | 51 | |||||||||||||
Click here for the Excel Data File
| Use a statistical software package to answer the following questions. |
| b. |
Determine the coefficient of correlation between the two variables. (Round your answer to 3 decimal places.) |
| Pearson correlation |
|
State the decision rule for 0.01 significance level: H0: ρ ≤ 0; H1: ρ > 0 (Round your answer to 3 decimal places.) |
| Reject H0 if t > |
| Compute the value of the test statistic. (Round your answer to 2 decimal places.) |
| Value of the test statistic |
| c. |
Is it reasonable to conclude that there is a positive relationship between revenue and occupied rooms? Use the 0.01 significance level. |
| (Click to select) Reject Fail to reject H0, There is a (Click to select) no correlation a negative correlation a positive correlation between revenue and occupied rooms. |
| d. |
What percent of the variation in revenue in the restaurant is accounted for by the number of rooms occupied? (Round your answer to 1 decimal place.) |
| % of the variation in revenue is explained by variation in occupied rooms. |
In: Statistics and Probability
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.
| Day | Revenue | Occupied | Day | Revenue | Occupied | ||||||||
| 1 | $ | 1,452 | 40 | 14 | $ | 1,425 | 31 | ||||||
| 2 | 1,361 | 20 | 15 | 1,445 | 51 | ||||||||
| 3 | 1,426 | 21 | 16 | 1,439 | 62 | ||||||||
| 4 | 1,470 | 54 | 17 | 1,348 | 45 | ||||||||
| 5 | 1,456 | 62 | 18 | 1,450 | 41 | ||||||||
| 6 | 1,430 | 29 | 19 | 1,431 | 62 | ||||||||
| 7 | 1,354 | 22 | 20 | 1,446 | 47 | ||||||||
| 8 | 1,442 | 21 | 21 | 1,485 | 43 | ||||||||
| 9 | 1,394 | 15 | 22 | 1,405 | 38 | ||||||||
| 10 | 1,459 | 65 | 23 | 1,461 | 36 | ||||||||
| 11 | 1,399 | 41 | 24 | 1,490 | 61 | ||||||||
| 12 | 1,458 | 35 | 25 | 1,426 | 65 | ||||||||
| 13 | 1,537 | 51 | |||||||||||
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Determine the coefficient of correlation between the two variables. (Round your answer to 3 decimal places.) c-1. State the decision rule for 0.025 significance level: H0: ρ ≤ 0; H1: ρ > 0. (Round your answer to 3 decimal places.) c-2. Compute the value of the test statistic. (Round your answer to 2 decimal places.) c-3. Is it reasonable to conclude that there is a positive relationship between revenue and occupied rooms? Use the 0.02 significance level. What percent of the variation in revenue in the restaurant is accounted for by the number of rooms occupied? (Round your answer to 1 decimal place.) |
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In: Statistics and Probability
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.
Determine the coefficient of correlation between the two variables. (Round your answer to 3 decimal places.)
c-1. State the decision rule for 0.10 significance level: H0: ρ ≤ 0; H1: ρ > 0. (Round your answer to 3 decimal places.)
c-2. Compute the value of the test statistic. (Round your answer to 2 decimal places.)
c-3. Is it reasonable to conclude that there is a positive relationship between revenue and occupied rooms? Use the 0.10 significance level.
In: Statistics and Probability
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. Day Income Occupied Day Income Occupied 1 $ 1,452 20 14 $ 1,425 31 2 1,361 20 15 1,445 51 3 1,426 21 16 1,439 62 4 1,470 80 17 1,348 45 5 1,456 70 18 1,450 41 6 1,430 29 19 1,431 62 7 1,354 70 20 1,446 47 8 1,442 21 21 1,485 43 9 1,394 15 22 1,405 38 10 1,459 36 23 1,461 36 11 1,399 41 24 1,490 30 12 1,458 35 25 1,426 65 13 1,537 51 PictureClick here for the Excel Data File Use a statistical software package to answer the following questions.
b. Determine the coefficient of correlation between the two variables. (Round your answer to 3 decimal places.) Pearson correlation State the decision rule for 0.01 significance level: H0: ρ ≤ 0; H1: ρ > 0 (Round your answer to 3 decimal places.) Reject H0 if t > Compute the value of the test statistic. (Round your answer to 2 decimal places.) Value of the test statistic
c. Is it reasonable to conclude that there is a positive relationship between revenue and occupied rooms? Use the 0.01 significance level. H0, There is a between revenue and occupied rooms.
d. What percent of the variation in revenue in the restaurant is accounted for by the number of rooms occupied? (Round your answer to 1 decimal place.) % of the variation in revenue is explained by variation in occupied rooms.
In: Math
THE PALM OASIS SUITE HOTEL
Cody Michlon, manager of the Palm Oasis Suite Hotel in Miami Beach is requesting your help to improve the guest
experience at the hotel. Cody Michlon plans to remodel the front desk to provide a more customer-centric
experience and create an optimal level of staff efficiency and guest service. Historical data of arrivals during the
peak check-in time of 5:00PM to 7:00PM showed that an average of 80 guests arrive each hour. It takes an average
of 3 minutes for the front-desk clerk to register each guest.
Mr. Michlon wants to improve guest service by reducing the length of time that guests spend waiting in line.
CURRENT (PLAN 0): At present, the hotel has five clerks on duty, each with a separate waiting line.
PLAN I. The first proposal would designate one employee as a quick-service clerk for guests registering under
corporate accounts, a market segment that fills about 30% of all occupied rooms. Because corporate
guests are preregistered, the registration takes an average of just 2 minutes. With these guests separated
from the rest of the clientele, the average time for registering a typical guest would climb to 3.4 minutes.
Under this plan non-corporate guests would choose any of the remaining four separate lines.
PLAN II. The second plan is to implement a single-line system. All guests could form a single waiting line to be
served by whichever of five clerks became available. (The only difference between the current scenario
and this proposed Plan II is the line formation – currently it is set up with five separate lines one in
front of each of the clerks, this plan II proposes a single line that wraps around with a corral and the
next guest will go to the next available clerk). This option would require sufficient lobby space for
what could be a substantial queue.
PLAN III. The use of a self-service kiosk for check-ins is the basis for the third proposal. This kiosk would provide
about the same service rate as would a clerk, however, since check-ins are automated the service time
would be a constant 3 minutes. Because initial use of this technology is minimal, Cody estimates that
20% of customers, primarily frequent guests, would be willing to use this machine – hopefully this
percent will increase in the future. Cody would set-up a single queue for customers who prefer human
check-in clerks (the remaining 80% of the customers). This line would be served by only four clerks,
because of the space requirement for the self-serve kiosk and the extra expense of the technology.
PLAN IV. Please provide your suggestion for a “better” queuing system. Be sure to compare your performance
measures to the other plans. Your idea??????
INSTRUCTIONS: Prepare a one to two page Executive Summary which should include the following
In: Operations Management
In a potentiometric pH titration of a weak acid, why does the pH change rapidly with the addition of NaOH near the endpoint but changes very slowly for pH values near the pKa of the acid?
In: Chemistry
In: Economics
A monopolist faces the following demand curve, marginal revenue curve, total cost curve and marginal cost curve for its product:
Q = 200 - 2P MR = 100 - Q TC = 5Q MC = 5
a) suppose that a tax of $5 for each unit produced is imposed by state government. What is the profit maximizing level of output?
b) suppose that a tax of $5 for each unit produced is imposed by state government. What is the price maximizing price?
In: Economics