Forecasting labour costs is a key aspect of hotel revenue management that enables hoteliers to appropriately allocate hotel resources and fix pricing strategies. Mary, the President of Hellenic Hoteliers Federation (HHF) is interested in investigating how labour costs (variable L_COST) relate to the number of rooms in a hotel (variable Total_Rooms). Suppose that HHF has hired you as a business analyst to develop a linear model to predict hotel labour costs based on the total number of rooms per hotel using the data provided. 3.1 Use the least squares method to estimate the regression coefficients b0 and b1 3.2 State the regression equation 3.3 Plot on the same graph, the scatter diagram and the regression line 3.4 Give the interpretation of the regression coefficients b0 and b1 as well as the result of the t-test on the individual variables (assume a significance level of 5%) 3.5 Determine the correlation coefficient of the two variables and provide an interpretation of its meaning in the context of this problem 3.6 Check statistically, at the 0.05 level of significance whether there is any evidence of a linear relationship between labour cost and total number of rooms per hotel
TR=TOTAL ROOMS, L COST =LABOUR COST
TR L_COST Turnover_per_Room
412 2,165,000
21,519.42
313 2,214,985
21,755.04
265 1,393,550
17,937.91
204 2,460,634
37,400.05
172 1,151,600
31,824.30
133 801,469 19,444.46
127 1,072,000
22,551.18
322 1,608,013
18,205.04
241 793,009 8,793.00
172 1,383,854
25,114.16
121 494,566
14,095.35
70 437,684
22,231.59
65 83,000 5,953.85
93 626,000
18,150.99
75 37,735
3,871.67
69 256,658
11,071.70
66 230,000
8,030.30
54 200,000
10,185.19
68 199,000
57 11,720
2,982.46
38 59,200
6,342.11
27 130,000
25,185.19
47 255,020
18,223.26
32 3,500 1,000.00
27 20,906 2,384.85
48 284,569
14,264.58
39 107,447
10,478.26
35 64,702
10,811.29
23 6,500 3,478.26
25 156,316
22,231.56
10 15,950
8,150.00
18 722,069
81,556.71
17 6,121 2,151.88
29 30,000
4,068.97
21 5,700 4,142.86
23 50,237
5,113.83
15 19,670
10,037.87
8 7,888 4,849.25
20 3,750.00
11 1,753.91
15 3,500 2,666.67
18 112,181
34,260.90
23
10 30,000 12,000.00
26 3,575 3,001.81
306 2,074,000
19,803.92
240 1,312,601
15,823.58
330 434,237
4,361.65
139 495,000
17,050.36
353 1,511,457
15,370.22
324 1,800,000
15,432.10
276 2,050,000
22,101.45
221 623,117
9,199.82
200 796,026
18,158.06
117 360,000
11,649.57
170 538,848
10,294.08
122 568,536
17,510.12
57 300,000
15,614.04
62 249,205
9,623.61
98 150,000
6,326.53
75 220,000
6,666.67
62 50,302
2,058.19
50 517,729
20,000.00
27 51,000
16,666.67
44 75,704
7,118.52
33 271,724
40,499.76
25 118,049
9,664.80
42
30 40,000
4,833.33
44 522.73
10 10,000
7,300.00
18 10,000
5,555.56
18 1,338.22
73 70,000
4,958.90
21 12,000
6,904.76
22 20,000
3,636.36
25 36,277
1,489.72
25 36,277
1,489.72
31 10,450
2,348.39
16 14,300
5,000.00
15 4,296
732.00
12 1,083.33
11 2,000.00
16 379,498
22 1,520 673.36
12 45,000
58,333.33
34 96,619
18,817.53
37 270,000
21,621.62
25 60,000 10,000.00
10 12,500 9,000.00
270 1,934,820
27,977.57
261 3,000,000
36,781.61
219 1,675,995
17,559.77
280 903,000 15,907.14
378 2,429,367
16,666.67
181 1,143,850
22,352.93
166 900,000 20,180.72
119 600,000
31,932.77
174 2,500,000
32,628.43
124 1,103,939
17,559.77
112 363,825 8,054.72
227 1,538,000
16,173.81
161 1,370,968
23,161.53
216 1,339,903
12,503.53
102 173,481
6,795.40
96 210,000
15,833.33
97 441,737
11,759.43
56 96,000
8,000.00
72 177,833
7,501.82
62 252,390
25,266.45
78 377,182
17,409.35
74 111,000
9,891.89
33 238,000
23,848.48
30 45,000
5,919.30
39 50,000
3,846.15
32 40,000
6,250.00
25 61,766
4,237.28
41 166,903
25,266.46
24 116,056
17,409.33
49 41,000
5,102.04
43 195,821
11,759.42
9
20 96,713
17,409.35
32 6,500
2,953.13
14 5,500
2,500.00
14 4,000
4,285.71
13 15,000
2,307.69
13 9,500
1,538.46
53 48,200
3,528.30
11 3,000
10,909.09
16 27,084
3,652.44
21 30,000
2,380.95
21 20,000
2,380.95
46 43,549
1,314.04
21 10,000
952.38
In: Statistics and Probability
The City of Pfeiffer starts the year of 2017 with the general fund and an enterprise fund. The general fund has two activities: education and parks/recreation. For convenience, assume that the general fund holds $123,000 cash and a new school building costing $1 million. The city utilizes straight-line depreciation. The building has a 20-year life and no salvage value. The enterprise fund has $62,000 cash and a new $600,000 civic auditorium with a 30-year life and no salvage value. The enterprise fund monitors just one activity, the rental of the civic auditorium for entertainment and other cultural affairs.
The following transactions for the city take place during 2017. Assume that the city’s fiscal year ends on December 31.
Decides to build a municipal park and transfers $70,000 into a capital projects fund and immediately expends $20,000 for a piece of land. The creation of this fund and this transfer were made by the highest level of government authority.
Borrows $110,000 cash on a long-term bond for use in creating the new municipal park.
Assesses property taxes on the first day of the year. The assessment, which is immediately enforceable, totals $600,000. Of this amount, $510,000 will be collected during 2017 and another $50,000 is expected in the first month of 2018. The remainder is expected about halfway through 2018.
Constructs a building in the park in (b) for $80,000 cash so that local citizens can play basketball and other sports. It is put into service on July 1 and should last 10 years with no salvage value.
Builds a sidewalk around the new park for $10,000 cash and puts it into service on July 1. It should last for 10 years, but the city plans to keep it up to a predetermined quality level so that it will last almost indefinitely.
Opens the park and charges an entrance fee of only a token amount so that it records the park, therefore, in the general fund. Collections during this first year total $8,000.
Buys a new parking deck for $200,000, paying $20,000 cash and signing a long-term note for the rest. The parking deck, which is to go into operation on July 1, is across the street from the civic auditorium and is considered part of that activity. It has a 20-year life and no salvage value.
Receives a $100,000 cash grant for the city school system that must be spent for school lunches for the poor. Appropriate spending of these funds is viewed as an eligibility requirement of this grant. During the current year, $37,000 of the amount received was properly spent.
Charges students in the school system a total fee of $6,000 for books and the like. Of this amount, 90 percent is collected during 2017 with the remainder expected to be collected in the first few weeks of 2018.
Buys school supplies for $22,000 cash and uses $17,000 of them. The general fund uses the purchases method.
Receives a painting by a local artist to be displayed in the local school. It qualifies as a work of art, and officials have chosen not to capitalize it. The painting has a value of $80,000. It is viewed as inexhaustible.
Transfers $20,000 cash from the general fund to the enterprise fund as a capital contribution.
Orders a school bus for $99,000.
Receives the school bus and pays an actual cost of $102,000. The bus is put into operation on October 1 and should last for five years with no salvage value.
Pays salaries of $240,000 to school teachers. In addition, owes and will pay $30,000 during the first two weeks of 2018. Vacations worth $23,000 have also been earned but will not be taken until July 2018.
Pays salaries of $42,000 to city auditorium workers. In addition, owes and will pay $3,000 in the first two weeks of 2018. Vacations worth $5,000 have also been earned but will not be taken until July 2018.
Charges customers $130,000 for the rental of the civic auditorium. Of this balance, collected $110,000 in cash and will collect the remainder in April 2018.
Pays $9,000 maintenance charges for the building and sidewalk in (d) and (e).
Pays $14,000 on the bond in (b) on the last day of 2017: $5,000 principal and $9,000 interest.
Accrues interest of $13,000 on the note in (g) as of the end of 2017, an amount that it will pay in June 2018.
Assumes that a museum that operates within the city is a component unit that will be discretely presented. The museum reports to city officials that it had $42,000 of direct expenses this past year and $50,000 in revenues from admission charges. The only assets that it had at year-end were cash of $24,000, building (net of depreciation) of $300,000, and a long-term liability of $210,000.
Prepare the 2017 government-wide financial statements for this city. Assume the use of the modified approach.
In: Accounting
Premium for Financial Risk Ethier Enterprise has an unlevered beta of 1.0. Ethier is financed with 40% debt and has a levered beta of 1.4. If the risk free rate is 5.5% and the market risk premium is 4%, how much is the additional premium that Ethier's shareholders require to be compensated for financial risk? Round your answer to one decimal place. %
In: Finance
a.) How many milliliters of 1.0 M benzoic acid need to be added to 550 mL of a solution already containing 6.00 grams of sodium benzoate, if you want the final pH to be 4.15? Ka for benzoic acid = 6.28x10^-5. b.) If you add 6.00 grams of sodium benzoate to 14.55 grams of benzoic acid, what is the pH of this solution? Is this a buffer, why or why not? c.) How many grams of potassium nitrite need to be added to 250 mL of a 0.1234 M HNO2 solution to produce a final buffer at pH = 3.65. Ka for HNO2 = 4.5x10^-4.
In: Chemistry
If 5.2 g of butanoic acid, C4H8O2, is dissolved in enough water to make 1.0 L of solution, what is the resulting pH?
Assuming complete dissociation, what is the pH of a 4.41 mg/L Ba(OH)2 solution?
The Kb for an amine is 9.747 × 10-5. What percentage of the amine is protonated if the pH of a solution of the amine is 9.825? (Assume that all OH– came from the reaction of B with H2O.)
In: Chemistry
In: Physics
Three capacitors, each having a capacitance of 1.0 µF. They can be connected in many ways. How many possible ways that they can be connected to have different total capacitance? ______ (1 pt)
Draw each configuration and calculate the corresponding total capacitance. (4 pts)
Consider the configuration with the biggest total capacitance, if there is a potential difference of 100 V across the combination, what is the charge on each of the capacitors? (1 pt)
In: Physics
An unknown compound (A), C10H12O, gave the following proton NMR data: (a) triplet, at 1.0 ppm (3H) (b) quartet, at 2.4 ppm (2H) (c) singlet, at 3.7 ppm (2H) (d) multiplet, at 7.2 ppm (5H) Propose a structure for (A).
In: Chemistry
A bubble is sphere with 10 mm radius and a density of 1.0 kg/m^3.
This goes up in a glass of water which has Pwater=0.95 g/cm^3.
It starts at the bottom of a glass which is 10 cm tall.
Cd=0.8
Hypothesize how long it would take the bubble to rise to the top of the glass.
Draw a complete force diagram of the bubble, including weight, buoyancy and drag forces. Make sure your coordinate axis points in the direction of positive acceleration.
Write down the equation of motion in the vertical direction, and solve for the terminal speed of the bubble when these forces are in balance.
Assuming the bubble mostly travels at this terminal speed, how much time does it take to get to the top of the glass?
In: Physics
Stock X has a 10.5% expected return, a beta coefficient of 1.0, and a 40% standard deviation of expected returns. Stock Y has a 12.0% expected return, a beta coefficient of 1.1, and a 30.0% standard deviation. The risk-free rate is 6%, and the market risk premium is 5%.
Calculate each stock's coefficient of variation. Round your answers to two decimal places. Do not round intermediate calculations.
In: Finance