3. value:

12.50 points

A suburbanhotelderives 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. Below is a sample of 25 days (Monday through Thursday) from last year showing the restaurant income and number of rooms occupied.

Day	Income	Occupied	Day	Income	Occupied
1		$	1,452			60		14		$	1,425			31
2			1,361			20		15			1,445			51
3			1,426			21		16			1,439			62
4			1,470			80		17			1,348			45
5			1,456			70		18			1,450			41
6			1,430			29		19			1,431			62
7			1,354			30		20			1,446			47
8			1,442			21		21			1,485			43
9			1,394			15		22			1,405			38
10			1,459			36		23			1,461			36
11			1,399			41		24			1,490			30
12			1,458			35		25			1,426			65
13			1,537			51

Click here for the Excel Data File

Use a statisticalsoftwarepackage to answer the followingquestions.

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

Pearson correlation

State the decision rule for 0.005 significance level:H₀: 0;H₁:> 0(Round your answer to 3 decimal places.)

RejectH0ift>

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

Value of the test statistic

c.	Is it reasonable to conclude that there is a positive relationship between revenue and occupied rooms? Use the 0.005 significance level.

(Click to select)RejectFail to rejectH₀, There is a(Click to select)a positive correlationno correlationa negative correlationbetween revenue and occupied rooms.

d.	What percent of the variation in revenue in the restaurant is accounted for by the number of rooms occupied?(Round your answer to 1decimal place.)

% of the variation in revenue is explained by variation in occupied rooms.