Essentials of Statistics for Business and Economics (with XLSTAT Printed Access Card)

8th Edition

ISBN: 9781337114172

Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran

Publisher: Cengage Learning

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Textbook Question

Chapter 3, Problem 70SE

Best Hotels. Travel + Leisure magazine provides an annual list of the 500 best hotels in the world. The magazine provides a rating for each hotel along with a brief description that includes the size of the hotel, amenities, and the cost per night for a double room. A sample of 12 of the top-rated hotels in the United States follows.

Chapter 3, Problem 70SE, Best Hotels. Travel + Leisure magazine provides an annual list of the 500 best hotels in the world.

a. What is the mean number of rooms?
b. What is the mean cost per night for a double room?
c. Develop a scatter diagram with the number of rooms on the horizontal axis and the cost per night on the vertical axis. Does there appear to be a relationship between the number of rooms and the cost per night? Discuss.
d. What is the sample correlation coefficient? What does it tell you about the relationship between the number of rooms and the cost per night for a double room? Does this appear reasonable? Discuss.

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Chapter 3, Problem 69SE

Chapter 3, Problem 71SE

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Chapter 3 Solutions

Essentials of Statistics for Business and Economics (with XLSTAT Printed Access Card)

Ch. 3.1 - Consider a sample with data values of 10, 20, 12,...Ch. 3.1 - Consider a sample with data values of 10, 20, 21,...Ch. 3.1 - Consider the following data and corresponding...Ch. 3.1 - Consider the following data. What is the mean...Ch. 3.1 - Consider a sample with data values of 27, 25, 20,...Ch. 3.1 - Consider a sample with data values of 53, 55, 70,...Ch. 3.1 - The average number of minutes Americans commute to...Ch. 3.1 - Prob. 8E Ch. 3.1 - Advertising Spending. Which companies spend the...Ch. 3.1 - Over a nine-month period, OutdoorGearLab tested...

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Solution Summary: The author calculates the number of rooms and double room cost per night for a sample of 12 top-rated hotels in the country U.

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