City Hotel Room Rate ($) Entertainment ($) Boston 144 161 Denver 96 103 Nashville 88 103 New Orleans 112 143 Phoenix 89 100 San Diego 100 119 San Francisco 137 166 San Jose 93 138 Tampa 86 99 Concur Technologies, Inc., is a large expense-management company located in Redmond, Washington. The Wall Street Journal asked Concur to examine the data from 8.3 million expense reports to provide insights regarding business travel expenses. Their analysis of the data showed that New York was the most expensive city, with an average daily hotel room rate of $198 and an average amount spent on entertainment, including group meals and tickets for shows, sports, and other events, of $172. In comparison, the U.S. averages for these two categories were $89 for the room rate and $99 for entertainment. The table in the Excel Online file below shows the average daily hotel room rate and the amount spent on entertainment for a random sample of 9 of the 25 most visited U.S. cities (The Wall Street Journal, August 18, 2011). Construct a spreadsheet to answer the following questions. What does the scatter diagram developed in part (a) indicate about the relationship between the two variables? The scatter diagram indicates a linear relationship between the hotel room rate and the amount spent on entertainment. Develop the least squares estimated regression equation. (to 4 decimals) Provide an interpretation for the slope of the estimated regression equation (to 3 decimals). The slope of the estimated regression line is approximately . So, for every dollar in the hotel room rate the amount spent on entertainment increases by $. The average room rate in Chicago is $128, considerably higher than the U.S. average. Predict the entertainment expense per day for Chicago (to whole numb

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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City	Hotel Room Rate ($)	Entertainment ($)
Boston	144	161
Denver	96	103
Nashville	88	103
New Orleans	112	143
Phoenix	89	100
San Diego	100	119
San Francisco	137	166
San Jose	93	138
Tampa	86	99

Concur Technologies, Inc., is a large expense-management company located in Redmond, Washington. The Wall Street Journal asked Concur to examine the data from 8.3 million expense reports to provide insights regarding business travel expenses. Their analysis of the data showed that New York was the most expensive city, with an average daily hotel room rate of $198 and an average amount spent on entertainment, including group meals and tickets for shows, sports, and other events, of $172. In comparison, the U.S. averages for these two categories were $89 for the room rate and $99 for entertainment. The table in the Excel Online file below shows the average daily hotel room rate and the amount spent on entertainment for a random sample of 9 of the 25 most visited U.S. cities (The Wall Street Journal, August 18, 2011). Construct a spreadsheet to answer the following questions.

What does the scatter diagram developed in part (a) indicate about the relationship between the two variables?

The scatter diagram indicates a

linear relationship between the hotel room rate and the amount spent on entertainment.
Develop the least squares estimated regression equation.

(to 4 decimals)
Provide an interpretation for the slope of the estimated regression equation (to 3 decimals).

The slope of the estimated regression line is approximately . So, for every dollar

in the hotel room rate the amount spent on entertainment increases by $.
The average room rate in Chicago is $128, considerably higher than the U.S. average. Predict the entertainment expense per day for Chicago (to whole number).

$