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Question: A suburban hotel derives its gross income from its hotel and restaurant operations. The owners ar…

by | Nov 30, 2023 | Posted Questions


A suburban hotel derives its gross income 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 40 14 $ 1,425 31
2 1,361 20 15 1,446 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 1,469 65 23 1,461 36
11 1,399 41 24 1,490 61
12 1,468 35 25 1,426 65
13 1,637 51
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 0.05 significance level:
H0: ? ? 0; H1:
? > 0 (Round your answer to 3 decimal
places.)

  Reject
Ho 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 0.05
significance level.

  (Click to
select)RejectFail to Reject H0, There is a (Click
to select)a positive correlationno correlationa negative
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. Omit the “%” sign in your
response.)

  % of the variation
in revenue is explained by variation in occupied rooms

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