In Exercise 39 we examined domestic tourists who visit Hawaii. Now, lets consider international tourism. Heres a

Question:

In Exercise 39 we examined domestic tourists who visit Hawaii. Now, let’s consider international tourism. Here’s a time series plot of international visitors for the same time period.

Here’s the linear trend model with dummy variables for months.
Response variable is: International R squared = 62.9% R squared (adjusted) = 53.4%
s = 13684 with 60 - 13 = 47 degrees of freedom Variable Coefficient SE(Coeff) t-ratio P-value Intercept 185963 6610 28.1 60.0001 Time 73.1937 104.1 0.703 0.4854 Feb -231348 8655 -2.67 0.0103 Mar -14961.8 8657 -1.73 0.0905 Apr -50026.4 8660 -5.78 60.0001 May -41912.4 8664 -4.84 60.0001 Jun -33370.4 8670 -3.85 0.0004 Jul -21521.2 8677 -2.48 0.0168 Aug -5021.56 8685 -0.578 0.5659 Sep -22294.3 8694 -2.56 0.0136 Oct -20751.5 8705 -2.38 0.0212 Nov -27338.9 8717 -3.14 0.0029 Dec 6075.27 8730 0.696 0.4899

a) Interpret the P-value for the Time coefficient.

b) The R2 for this model is lower than for the model fit to domestic visitors in Exercise

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Related Book For  book-img-for-question

Business Statistics

ISBN: 9781292269313

4th Global Edition

Authors: Norean Sharpe, Richard De Veaux, Paul Velleman

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