Answered: Airbnb is an online marketplace used by…

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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Question

Airbnb is an online marketplace used by many travelers when booking lodging all over the world. The company serves as a broker, receiving commissions from each booking. Guests have the opportunity to give a review to their host once their lodging is complete. New York City (NYC) is known for high lodging prices.

We took a random sample of 343 Airbnb listings and recorded many variables including price per night (in dollars) and number of reviews (count). We would like to study the relationship between number of reviews (counts) and price (in dollars) for all Airbnb listing in NYC. Using regression, we would like to explore if the number of reviews (explanatory variable) has an effect on the listed price per night (response).

Use the given scatterplot and complete a description for the relationship between the number of reviews (count) and price ($) using appropriate context.

Scatterplot of Number of Reviews vs the Price
for a Sample of 343 AirBnBs
00
100
200
300
400
The Number of Reviews (a count)
009
009
008
007
001
Price (in $)

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