A sU an hotel derives Its evenue from its notel and res 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. The dataset is a sample of 25 days (Monday through Thursday) from last year showing the restaurant income and the number of rooms occupied. 1) Does the revenue seem to increase as the number of occupied rooms increases? Draw a scatter diagram to support your conclusion. 2) Determine the correlation coefficient between the two variables. Interpret the value. 3) Is it reasonable to conclude that there is a positive relationship between revenue and occupied rooms? Use the .10 significance level.
A sU an hotel derives Its evenue from its notel and res 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. The dataset is a sample of 25 days (Monday through Thursday) from last year showing the restaurant income and the number of rooms occupied. 1) Does the revenue seem to increase as the number of occupied rooms increases? Draw a scatter diagram to support your conclusion. 2) Determine the correlation coefficient between the two variables. Interpret the value. 3) Is it reasonable to conclude that there is a positive relationship between revenue and occupied rooms? Use the .10 significance level.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
Section: Chapter Questions
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| Day | Revenue | Occupied |
| 1 | 1452 | 32 |
| 2 | 1361 | 20 |
| 3 | 1426 | 21 |
| 4 | 1470 | 25 |
| 5 | 1456 | 26 |
| 6 | 1430 | 23 |
| 7 | 1354 | 20 |
| 8 | 1442 | 39 |
| 9 | 1394 | 15 |
| 10 | 1459 | 50 |
| 11 | 1399 | 41 |
| 12 | 1458 | 35 |
| 13 | 1537 | 41 |
| 14 | 1425 | 31 |
| 15 | 1445 | 51 |
| 16 | 1439 | 62 |
| 17 | 1348 | 45 |
| 18 | 1450 | 41 |
| 19 | 1431 | 62 |
| 20 | 1446 | 47 |
| 21 | 1485 | 43 |
| 22 | 1405 | 38 |
| 23 | 1461 | 36 |
| 24 | 1490 | 60 |
| 25 | 1426 | 65 |
Transcribed Image Text:### PART I
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. The dataset is a sample of 25 days (Monday through Thursday) from last year, showing the restaurant income and the number of rooms occupied.
1) **Does the revenue seem to increase as the number of occupied rooms increases? Draw a scatter diagram to support your conclusion.**
2) **Determine the correlation coefficient between the two variables. Interpret the value.**
3) **Is it reasonable to conclude that there is a positive relationship between revenue and occupied rooms? Use the .10 significance level.**
#### Explanation of Tasks:
- **Scatter Diagram**: To visualize any potential relationship, plot the number of occupied rooms on the x-axis and the restaurant revenue on the y-axis. Analyze the pattern to determine if there's an upward trend.
- **Correlation Coefficient**: Calculate this statistical measure to quantify the strength and direction of the relationship between the two variables. A positive value would suggest a positive relationship.
- **Significance Testing**: Determine whether the observed correlation can be considered statistically significant at the 0.10 level, which implies a 90% confidence that the relationship is not due to random chance.
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