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1) The owner of North Canadian River Cruises believes that the firm's ferry ridership is tied to the number of tourists visiting Oklahoma. The firm's data analyst has collected data over the past twelve years on the number of tourists visiting Oklahoma and the firm's ferry ridership (see the excel file "North Canadian River Cruises"). a) Construct a scatter plot for the sample data. Does there appear to be a positive or negative relationship between number of tourists and ferry ridership? b) Compute the correlation coefficient for the sample data. What is the direction of the relationship (positive, negative, or zero relationship) between the number of tourists and ferry ridership? What is the strength of the relationship between the number of tourists and ferry ridership? c) Develop a linear regression model and compute the regression equation based on the sample data. d) Using the regression equation obtained using the sample data, calculate the expected ferry ridership if 10,000 tourists visit Oklahoma in 2024. e) Based on the sample data, what percentage of the total variation in the dependent variable can be explained by the independent variable? f) Using the regression output, at the 0.05 level significance, evaluate the significance of the slope of the regression equation using a t-test. g) Using the regression output, at the 0.05 level significance, evaluate the significance of the slope of the regression equation using a p value approach.

1) The owner of North Canadian River Cruises believes that the firm's ferry ridership is tied to the number of tourists visiting Oklahoma. The firm's data analyst has collected data over the past twelve years on the number of tourists visiting Oklahoma and the firm's ferry ridership (see the excel file "North Canadian River Cruises"). a) Construct a scatter plot for the sample data. Does there appear to be a positive or negative relationship between number of tourists and ferry ridership? b) Compute the correlation coefficient for the sample data. What is the direction of the relationship (positive, negative, or zero relationship) between the number of tourists and ferry ridership? What is the strength of the relationship between the number of tourists and ferry ridership? c) Develop a linear regression model and compute the regression equation based on the sample data. d) Using the regression equation obtained using the sample data, calculate the expected ferry ridership if 10,000 tourists visit Oklahoma in 2024. e) Based on the sample data, what percentage of the total variation in the dependent variable can be explained by the independent variable? f) Using the regression output, at the 0.05 level significance, evaluate the significance of the slope of the regression equation using a t-test. g) Using the regression output, at the 0.05 level significance, evaluate the significance of the slope of the regression equation using a p value approach.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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1) The owner of North Canadian River Cruises believes that the firm's ferry ridership is tied to the number of tourists visiting Oklahoma. The firm's data analyst has collected data over the past twelve years on the number of tourists visiting Oklahoma and the firm's ferry ridership (see the excel file "North Canadian River Cruises"). a) Construct a scatter plot for the sample data. Does there appear to be a positive or negative relationship between number of tourists and ferry ridership? b) Compute the correlation coefficient for the sample data. What is the direction of the relationship (positive, negative, or zero relationship) between the number of tourists and ferry ridership? What is the strength of the relationship between the number of tourists and ferry ridership? c) Develop a linear regression model and compute the regression equation based on the sample data. d) Using the regression equation obtained using the sample data, calculate the expected ferry ridership if 10,000 tourists visit Oklahoma in 2024. e) Based on the sample data, what percentage of the total variation in the dependent variable can be explained by the independent variable? f) Using the regression output, at the 0.05 level significance, evaluate the significance of the slope of the regression equation using a t-test. g) Using the regression output, at the 0.05 level significance, evaluate the significance of the slope of the regression equation using a p value approach.
Transcribed Image Text:1) The owner of North Canadian River Cruises believes that the firm's ferry ridership is tied to the number of tourists visiting Oklahoma. The firm's data analyst has collected data over the past twelve years on the number of tourists visiting Oklahoma and the firm's ferry ridership (see the excel file "North Canadian River Cruises"). a) Construct a scatter plot for the sample data. Does there appear to be a positive or negative relationship between number of tourists and ferry ridership? b) Compute the correlation coefficient for the sample data. What is the direction of the relationship (positive, negative, or zero relationship) between the number of tourists and ferry ridership? What is the strength of the relationship between the number of tourists and ferry ridership? c) Develop a linear regression model and compute the regression equation based on the sample data. d) Using the regression equation obtained using the sample data, calculate the expected ferry ridership if 10,000 tourists visit Oklahoma in 2024. e) Based on the sample data, what percentage of the total variation in the dependent variable can be explained by the independent variable? f) Using the regression output, at the 0.05 level significance, evaluate the significance of the slope of the regression equation using a t-test. g) Using the regression output, at the 0.05 level significance, evaluate the significance of the slope of the regression equation using a p value approach.
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