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Determine the coefficient of correlation

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Reference no: EM132904953

A suburban hotel derives its revenue from its hotel and restaurant operations. The owners are interested in the relationship between the number of rooms occupied on a nightly basis and the revenue per day in the restaurant. Following is a sample of 25 days (Monday through Thursday) from last year showing the restaurant income and number of rooms occupied.

DayRevenueOccupiedDayRevenueOccupied1 $1,452 23 14 $1,425 27 2 1,361 47 15 1,445 34 3 1,426 21 16 1,439 15 4 1,470 39 17 1,348 19 5 1,456 37 18 1,450 38 6 1,430 29 19 1,431 44 7 1,354 23 20 1,446 47 8 1,442 44 21 1,485 43 9 1,394 45 22 1,405 38 10 1,459 16 23 1,461 51 11 1,399 30 24 1,490 61 12 1,458 42 25 1,426 39 13 1,537 54
Click here for the Excel Data File

a. Choose the scatter diagram that best fits the data.

Scatter diagram 1Scatter diagram 2Scatter diagram 3

multiple choice

-Scatter diagram 1
-Scatter diagram 2
-Scatter diagram 3

b. Determine the coefficient of correlation between the two variables. (Round your answer to 3 decimal places.)

c-1.State the decision rule for 0.10 significance level:H0:ρ≤ 0;H1:ρ> 0.(Round your answer to 3 decimal places.)

c-2.Compute the value of the test statistic.(Round your answer to 2 decimal places.)

c-3. Is it reasonable to conclude that there is a positive relationship between revenue and occupied rooms? Use the 0.10 significance

Reference no: EM132904953

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