IHW 9 - Ex. 13-40 - Correlation... Q Search in Document Screen Shot 2021-11-08 at 4.23.55 PM Search Home Insert Design Layout References Mailings Calibri (Body) 12 A A Aa 25 25 1,426 39 Paste B I abe X2 x A Use a statistical software package to answer the following questions. a. Draw a scatter diagram. Describe the relationship between revenue and number of occupied rooms. b. Determine the correlation coefficient between the two variables. Interpret the value. c. Is it reasonable to conclude that there is a positive relationship between revenue and occupied rooms? Use the .10 significance level. d. What percent of the variation in revenue in the restaurant is accounted for by the number of rooms occupied? Page 476 17 10 18 17 1,348 19 19 18 1,450 38 20 19 1,431 44 21 20 1,446 47 22 21 1,485 43 23 22 1,405 38 24 23 1,461 51 25 24 1,490 61 26 25 1,426 39 27 28 29 20 Review View AN + Sha Styles 23 24 25 7896=22116722222222222222222222227177 20 Standard Err 39.6124161 Observations 25 10 ANOVA df 12 Regression 13 Residual 14 Total 15 1 7863.85936 7863.85936 5.01156161 23 36090.3006 1569.14351 24 43954.16 SS MS F Significance F 0.0351478 The scatter diagram resembles a line indicating its strength. It's direction is both positive and negative correlation.| Qb - 2.5 points - has two sub-questions The correlation coefficient is 0.42297809. Based on the correlation coefficient, its strength is about moderately positive. Qc-2.5 points - has two sub-questions. The text has one. I am adding a second: "Why"? Lower 95% Upper 95% Lower 95.0% Upper 95.0% 1329.8408 1434.13426 1329.8408 1434.13426 Coefficients tandard Erro t Stat P-value 17 Intercept 1381.98753 25.2080041 54.8233619 6.9737E-26 18 X Variable 1 1.47826909 0.66033902 2.23865174 0.0351478 0.11225376 2.84428442 0.11225376 2.84428442 IHW 9 - Ex. 13-40 - Correlation and Simple Linear Regression PROBLEM.docx Page 1 30 31 32 33 Qd-2.5 points - has only one question R squared is 0.17891047. which is the percentage of variation in revenue that can be explained by the model. 34 35 36 37 38 39 A B C D E F G H I J 40 1 SUMMARY OUTPUT 2 41 3 Regression Statistics 42 4 Multiple R 0.42297809 43 5 R Square 10.17891047 6 Adjusted RS 0.14321092 Sheet1 Ex13-40-e16 + 8 7 Standard Err 39.6124161 Observations 25 9