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Question

N Netflio x , n Facebook ×'Qwarringt Due to inactiv Homepage- ECON-201 xM Homework 13, Chapter x C | ezto.mheducation.com/hm.tpx Questions 2-3 (of 12) A suburban hotel derves ins gross income from its hotel and restaurant oper interested in the reletionship between the number of rooms occupied on a nightly basis and the income from its hotel and restaurant operations. The owners are on a nightly basis and the revenue per y) from last year showing the dey in the resteurant Below is e sample of 25 days (Monday through Thursday from last yeer showing restaurant income and number of rooms occupied. Occupied: Dayanlincome occupied $ 1,452 23 1361 47 142621 1.4739 1456 37 143029 1354 23 1442 44 ,394 45 1,459 16 1,399 30 1458 42 1.537 54 14 S1425 27 1445 34 1439 15 16 17 18 1348 19 1450 38 1,431 44 1446 47 1,485 43 405 38 1461 51 1,490 61 1,426 39 21 23 24 12 13 value 4.00 points (b) Determine the coefficient of correlation between the two variables. (Round your answer to 3 decimal places.) Pearson correlation 0.423

Explanation / Answer

solutiond:

17.9

variation in revenue in the restaurant is accounted for by the number of rooms.

is given by coefficient of determination

R sq

Multiple R is correlation coefficient r= 0.422

ANSWER

0.422

AND 17.9%

SUMMARY OUTPUT Regression Statistics Multiple R 0.422978 R Square 0.17891 Adjusted R Square 0.143211 Standard Error 11.33433 Observations 25 ANOVA df SS MS F Regression 1 643.8201 643.8201 5.011562 Residual 23 2954.74 128.467 Total 24 3598.56 Coefficients Standard Error t Stat P-value Intercept -137.502 77.64299 -1.77095 0.089823 Income 0.121027 0.054062 2.238652 0.035148

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