Concur-Technologies, Inc., is a large expense-management company located in Redmond, Washington. The Wail Street Journal asked Concur to examine the data from 8.3 million expense reports to provide insights regarding business travel expenses. Their analysis of the data showed that New York was the most expensive city, with an average daily hotel room rate of $198 and an average amount spent on entertalnment, including group meals and tickets for shows, sports, and other events, of $172. In comparison, the U.S. averages for these two categories were $89 for the room rate and $99 for entertainment. The table in the Excel Online file below shows the average dally hotel room rate and the amount spent on entertainment for a random sample of 9 of the 25 most visited U.S. cities (The Wall Street Journal, August 18, 2011). Construct a spreadshcet to answer the following questions. \begin{tabular}{l} \hline \\ \hline 2 \\ 3 \\ 4 \\ 5 \\ 6 \\ 7 \\ 8 \\ 9 \\ 10 \\ 11 \\ 12 \\ 13 \\ 14 \\ 15 \\ 16 \\ 17 \\ 18 \\ 19 \\ 20 \\ 21 \\ 22 \\ 23 \\ 24 \\ 25 \\ 26 \\ 27 \\ 27 \\ 28 \\ 29 \\ 30 \\ 31 \end{tabular} Hotel Room Rate Entortaiment? (\$) (\$) Part a. USe the avea below is deaw a ceater dagram Denver Nashillo New Orleans Phoenix sanD=0 San Jose Tampa 1509985111661001369481161105991409911916814299 Patc. Part e. Room Rate in Chicapo 125 Erienainmont Experse for Chicago b. What does the scatter diagram developed in part (a) indicate about the relationship between the two variables? The scatter diagram indicates a linear relationship between the hotel room rate and the amount spent on entertainment. c. Develop the least squares estimated regression equation. Entertainment =+ Room Rate (to 4 decimals) d. Provide an interpretation for thd slope of the estimated regression equation (to 3 decimals). The slope of the estimated regression line is approximately . So, for every dollar in the hotel room rate the amount spe entertainment increases by $ Concur-Technologies, Inc., is a large expense-management company located in Redmond, Washington. The Wail Street Journal asked Concur to examine the data from 8.3 million expense reports to provide insights regarding business travel expenses. Their analysis of the data showed that New York was the most expensive city, with an average daily hotel room rate of $198 and an average amount spent on entertalnment, including group meals and tickets for shows, sports, and other events, of $172. In comparison, the U.S. averages for these two categories were $89 for the room rate and $99 for entertainment. The table in the Excel Online file below shows the average dally hotel room rate and the amount spent on entertainment for a random sample of 9 of the 25 most visited U.S. cities (The Wall Street Journal, August 18, 2011). Construct a spreadshcet to answer the following questions. \begin{tabular}{l} \hline \\ \hline 2 \\ 3 \\ 4 \\ 5 \\ 6 \\ 7 \\ 8 \\ 9 \\ 10 \\ 11 \\ 12 \\ 13 \\ 14 \\ 15 \\ 16 \\ 17 \\ 18 \\ 19 \\ 20 \\ 21 \\ 22 \\ 23 \\ 24 \\ 25 \\ 26 \\ 27 \\ 27 \\ 28 \\ 29 \\ 30 \\ 31 \end{tabular} Hotel Room Rate Entortaiment? (\$) (\$) Part a. USe the avea below is deaw a ceater dagram Denver Nashillo New Orleans Phoenix sanD=0 San Jose Tampa 1509985111661001369481161105991409911916814299 Patc. Part e. Room Rate in Chicapo 125 Erienainmont Experse for Chicago b. What does the scatter diagram developed in part (a) indicate about the relationship between the two variables? The scatter diagram indicates a linear relationship between the hotel room rate and the amount spent on entertainment. c. Develop the least squares estimated regression equation. Entertainment =+ Room Rate (to 4 decimals) d. Provide an interpretation for thd slope of the estimated regression equation (to 3 decimals). The slope of the estimated regression line is approximately . So, for every dollar in the hotel room rate the amount spe entertainment increases by $
