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 (2) 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 ŷ = 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 Room Rate Entertainment City ($) (s) Boston 148 161 Denver 96 105 Nashville 91 101 New Orleans 110 142 Phoenix 90 100 San Diego 102 120 San Francisco 136 167 06 82 San Jose 140 Tampa 98 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). 128 to $ 149.77 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). $ 110.69 to $ 188.84

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 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 (X) 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 y = 17.49 + 1.0334x. For these data SSE = 1541.4. Use Table 1 of Appendix B.

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).

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).

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 (x) 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 ŷ = 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 Room Rate Entertainment City ($) (s) Boston 148 161 Denver 96 105 Nashville 91 101 New Orleans 110 142 Phoenix 90 100 San Diego 102 120 San Francisco 136 167 06 82 San Jose 140 Tampa 98 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). $ 128 to $ 149.77 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). $ 110.69 to $ 188.84

TABLE 4 F DISTRIBUTION
Area or
probability
F.
Entries in the table give Fa values, where a is the area or probability in the upper tail of the F distribution. For example, with 4 numerator degrees of freedom,
8 denominator degrees of freedom, and a .05 area in the upper tail, F9s = 3.84.
Denominat tor
Area in
Numerator Degrees of Free dom
Degrees
of Freed om
Upper
Tail
1
2
3.
5
6.
7
10
15
20
25
30
40
60
100
100
39.86
59.86
240.54
.10
49.50
53.59
55.83
57.24
58.20
58.91
59.44
60.19
61.22
61.74
62.05
62.26
62.53
62.79
6301
63.30
05
161.45
199.50
215.71
224.58
230.16
233.99
236.77
238.88
241.88
245.95
248.02
249.26
250.10
251.14
252.20
253.04
254.19
984.87
1005.60
6286.43
025
647.79
799.48
864.15
899.60
921.83
937.11
948.20
956.64
963.28
968.63
993.08
998.09
1001 40
1009.79
1013.16
6333.92
1017.76
4052.18 4999.34 5403.53 5624.26 5763.96 5858.95 5928.33
5980.95 6022.40 6055.93 6156.97
6208.66
6239.86
6260.35
6312.97
6362.80
10
8.53
9.00
9.16
9.24
9.29
9.33
9.35
9.37
9.38
9.39
9.42
9,44
9.45
9.46
9,47
947
9.48
9.49
05
1851
19.00
19.16
19.25
19.30
19.33
19.35
19.37
19.38
19.40
1943
19,45
19.46
19.46
19,47
19.48
1949
19.49
025
38.51
39,00
39,17
39.25
39.30
39.33
39.36
39.37
39.39
39,40
39.43
39.45
39 46
39.46
39,47
39 48
39.49
39.50
01
98.50
9900
99.16
99.25
99.30
99.33
99.36
99.38
99.39
99,40
9943
99.45
99,46
99,47
99,48
99 48
99,49
99.50
.10
5.54
5.46
5,39
5.34
5.31
5,28
5.27
5.25
5.24
5.23
5.20
5. 18
5,17
5,17
5. 16
5.15
5.14
5.13
05
10.13
9.55
9.28
9.12
9.01
8.94
8.89
8.85
8.81
8.79
8,70
8,66
8.63
8,62
8,59
8.57
8.55
8.53
025
17.44
16.04
15.44
15.10
14.88
14,73
14.62
14.54
14,47
14.42
14.25
14.17
14.12
14.08
14.04
13.99
13.96
13.91
01
34.12
30.82
29.46
28.71
28.24
27.91
27.67
27.49
27.34
27.23
26.87
26.69
26.58
26.50
26.41
26.32
26.24
26.14
.10
4.54
4.32
4.19
4.11
4.05
4.01
3.98
3.95
3.94
3.92
3.87
3.84
3.83
3.82
3.80
3.79
3.78
3.76
05
7.71
6.94
6.59
6.39
6.26
6.16
6.09
6.04
6.00
5.96
5.86
5.80
5.77
5.75
5.72
5.69
5.66
5.63
025
12.22
10.65
9.98
9.60
9.36
9.20
9.07
8,98
8.90
8.84
8.66
8.56
8.50
8.46
8.41
8.36
8.32
8.26
.01
21.20
18.00
16.69
13.98
15.52
15.21
14.98
14.80
14.66
14.55
14.20
14.02
13.91
13.84
13.75
13.65
13.58
13.47
.10
.05
4.06
3,78
3.62
3.52
3.45
3,40
3.37
3.34
3.32
3,30
3,324
3.21
3.19
3.17
3.16
3.14
3. 13
3.11
6.61.
5.79
5.41
5. 19
5.06
4.95
4, 88
4,82
4.77
4.74
4.62
4.56
4.52
4.50
4,46
4,43
4,41
4,37
7.39
7. 15
10.97
025
10,01
8.43
7,76
6,98
6.85
6.76
6,68
6,62
6,43
6.33
6.27
6.23
6.18
6.12
6.08
6,02
.01
16.26
13.27
12.06
11.39
10.67
10.46
10.29
10. 16
10.05
9.72
9.55
945
9.38
9.29
9.20
9.13
9.03

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