Answered: The Wall Street Journal asked Concur…

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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The Wall Street Journal asked Concur Technologies, Inc., an expense management company, to examine data from million expense reports to provide insights regarding business travel expenses. Their analysis of the data showed that New York was the most expensive city. The following table shows the average daily hotel room rate () and the average amount spent on entertainment () for a random sample of of the most-visited U.S. cities. These data lead to the estimated regression equation . For these data . Click on the datafile logo to reference the data. Use Table 1 of Appendix B.

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Transcribed Image Text:The Wall Street Journal asked Concur Technologies, Inc., an expense management company, to examine 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. The following table shows the average daily hotel room rate (*) and the average amount spent on entertainment (y) for a random sample of 9 of the 25 most-visited U.S. cities. These data lead to the estimated regression equation = 17.49 +1.0334x. For these data SSE = 1541.4. Click on the datafile logo to reference the data. Use Table 1 of Appendix B. DATA file City Boston Denver Nashville Room Rate Entertainment ($) 161 105 101 142 100 120 167 140 98 New Orleans Phoenix ($) 148 96 91 110 90 San Diego 102 San Francisco 136 San Jose 90 Tampa 82 a. Predict the amount spent on entertainment for a particular city that has a daily room rate of $89 (to 2 decimals). $ b. Develop a 95% confidence interval for the mean amount spent on entertainment for all cities that have a daily room rate of $89 (to 2 decimals). to $ $ c. The average room rate in Chicago is $128. Develop a 95% prediction interval for the amount spent on entertainment in Chicago (to 2 decimals). to $ $

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