Major determinants of the average daily expenditure

Assignment Help Finance Basics
Reference no: EM131227002

The manager of a Barrier Reef resort wished to know the major determinants of the average daily expenditure by tourists (measured in dollars). From interviews with 18 tourists who have stayed at Great Barrier Reef holiday resorts, data on the size of the group, the length of stay in the region (measured in days), the number of resorts visited and the number of holidays they have had in the last five years. The partially completed ANOVA table for the regression model using all the variables on which data was collected is given below:

Source of variation

df

SS

MS

Regression

A

D

F

Error

B

E

352.7

Total

C

11858.6

 

Assume that a 0.005 level of significance has been adopted for the test of the overall significance of the relationship.

1. Calculate the test statistic, reporting your answer correct to two decimal places.

2. Use the tables in the text to determine the critical value for the test.

3. Is the null hypothesis rejected for this test? Type yes or no.

4. Hence, on the basis of this test, is at least one of group size, the length of stay, the number of resorts visited and the number of holidays taken related to average daily expenditure by tourists? Type yes or no.

Reference no: EM131227002

Questions Cloud

Calculate the vif for x2 correct to two decimal places : A multiple regression model is estimated using 3 explanatory variables. The r^2 was found to be 0.77. the coefficient of determination for the regression of X2 on the other explanatory variables was found to be 0.69. Calculate the VIF for X2 corre..
Find the cutoff frequency of a low-pass filter : An ideal low-pass filter with cutoff frequency ƒ passes all signal energy below ƒ, and rejects all signal energy above. Find the cutoff frequency of a low-pass filter such that square waves at I khz and 2 kHz, with amplitudes of I.IV and I.2V resp..
Model of labour force participation : The department of Employment and training estimated the following model of labour force participation in 2001 using census data on 49 local government areas in Queensland. The median annual earnings of full-time workers in thousands of dollars,
What do you see as your strengths and weaknesses : How might your personality type influence your job performance? Based on the results of your assessment, what do you see as your strengths and weaknesses?
Major determinants of the average daily expenditure : The manager of a Barrier Reef resort wished to know the major determinants of the average daily expenditure by tourists (measured in dollars). From interviews with 18 tourists who have stayed at Great Barrier Reef holiday resorts,
Percentage of observations : In a positively skewed distribution, the percentage of observations that fall below the median is:
Probability that the subject tested negative : Among 148 subjects with positive test results, there are 20 false positive results; among 153 negative results, there are 44 false negative results. If one of the test subjects is randomly selected, find the probability that the subject tested neg..
Why would we be concerned about moral entrepreneurs : Why would we be concerned about moral entrepreneurs in this module? What do they do that demonstrates, changes, or highlights our twin topics of social power and social problems?
Create an employee empowerment website for gdd using google : Create an employee empowerment website for GDD using GOOGLE SITES. This site should address at least 5 of the following: a) Motivation, (b) Empowerment, (c) Trust, (d) Influence, (e) Power, (f) Authority, and (g) Engagement.

Reviews

Write a Review

Finance Basics Questions & Answers

  Financial reporting and analysis

Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..

  A report on financial accounting

This report is specific for a core understanding for Financial Accounting and its relevant factors.

  Describe the types of financial ratios

Describe the types of financial ratios and other financial performance measures that are used during venture's successful life cycle.

  Differences between sole proprietorship and corporation

Briefly describe the major differences between a sole proprietorship and a corporation

  Prepare a cash budget statement

Calculate the expected value of the apartment in 20 years' time. What is the mortgage loan repayment at the beginning of each month

  What are the implied interest rates

What are the implied interest rates in Europe and the U.S.?

  State pricing theory and no-arbitrage pricing theory

State pricing theory and no-arbitrage pricing theory

  Small business administration

Identify the likely stage for each venture and describe the type of financing each venture is likely to be seeking and identify potential sources for that financing.

  Effect of financial leverage

The Effect of Financial Leverage and working capital management

  Evaluate the basis for the payment to the lender

Evaluate the basis for the payment to the lender and basis for the payment to the company-counterparty.

  Importance of opps, ipps, mpfs and dmepos

Research and discuss the differences and importance of : OPPS, IPPS, MPFS and DMEPOS.

  Time value of money

Time Value of Money project

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd