Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Larger hotels presumably need more employees. A sample of 14 hotels was selected and the number of rooms in the hotel and the total

image text in transcribedimage text in transcribed

Larger hotels presumably need more employees. A sample of 14 hotels was selected and the number of rooms in the hotel and the total number of full-time equivalent (FTE) employees was measured to aid in forecasting the impact on the local jobs market for a new hotel. Here is part of the output: Parameter Estimates Term Estimate Std Error Ratio Prob>|t| Lower 95% Intercept 101.98082 78.13614 Rooms 0.5135908 0.119791 1.31 0.2163 -68.2632 4.29 0.0011 0.2525889 Upper 95% 272.22485 0.7745927 Which of the following is correct? a) 95% of hotels have between 0 and 272 FTE employees. b) Each additional room in the hotel generated between 0.25 and 0.77 FTE jobs. c) 95% of rooms generate between 0.25 and 0.77 FTE jobs. d) We are 95% confident that the hotel will generate no more than 272 FTE jobs. Larger hotels presumably need more employees. A sample of 14 hotels was selected and the number of rooms in the hotel and the total number of full-time equivalent (FTE) employees was measured to aid in forecasting the impact on the local jobs market for a new hotel. Here is part of the output: Summary of Fit RSquare 0.605026 RSquare Adj 0.572112 Root Mean Square Error 188.7745 Mean of Response 357.7857 Observations (or Sum Wgts) 14 Which of the following is correct? a) The mean number of rooms in the hotels is about 360. b) The correlation between the number of rooms and the number of FTE employees is 0.60. c) The variance above and below the regression line is about 188. d) The sample size was 14. Larger hotels presumably need more employees. A sample of 14 hotels was selected and the number of rooms in the hotel and the total number of full-time equivalent (FTE) employees was measured to aid in forecasting the impact on the local jobs market for a new hotel. Here is part of the output: Parameter Estimates 1.31 0.2163 0.5135908 0.119791 4.29 0.0011 Term Estimate Std Error t Ratio Prob>|t| Lower 95% Upper 95% Intercept 101.98082 78.13614 Rooms -68.2632 0.2525889 272.22485 0.7745927 The estimated number of FTE employees for a hotel with 100 rooms is: a) 153. b) 51. c) 102.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Discrete Mathematics and Its Applications

Authors: Kenneth H. Rosen

7th edition

0073383090, 978-0073383095

More Books

Students also viewed these Mathematics questions