Provide an interpretation for the slope of the estimated regression equation (to 3 decimals).
The slope of the estimated regression line is approximately. So, for every dollar_________
increase
decrease
in the hotel room rate the amount spent on entertainment increases by
mm H . . uni. '- . . . . . . - MindTap - Cengage Learn 0' ng.cengage.com Bobbie v o. 'CENGAGE I MINDTAP .. My Home 14.2 Excel Activity 1c - Scatter Diagram, Regression Equation, and Prediction (Structured) Courses Question 1 5/10 Catalog and Study Tools Partner Offers Rental Options 33 CollegeSuccessTips .. . .. . .100..\"l?..120...1?0. I40 . $0.193\" HolelRoom 3 Career \"955 Tips . 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. You are eligible for a FREE 7- day trial of Cengage Unlimited 0" Cengage Unlimited Entertainment = 17.49 '0 + 1.0333 '0 Room Rate (to 4 decimals) eTextbooks . Develop the least squares estimated regression equation. . Provide an interpretation for the slope of the estimated regression equation (to 3 decimals). Try for Free The slope of the estimated regression line is approximately 0 i Sol for every dollar increase v Q in the hotel room rate the amount spent on entertainment increases by $ 149.71 0 . Learn more . The average room rate in Chicago is $128, considerably higher than the U.S. average. Predict the entertainment expense per day for Chicago (to 9 Help whole number). Go k My Work Reset Problem E] Give Feedback Autosaved at 11 :45 PM Alan Tovey, , 3 MiniCase13>122....xisx ' :1 Alan Tovey, mm H , , uni, '- , , , . , , - MindTap - Cengage Learn 0' ng.cengage.com Bobbie v o. 'CENGAGE I MINDTAP .. My Home 14.2 Excel Activity 1c - Scatter Diagram, Regression Equation, and Prediction (Structured) Courses Question 1 5/10 Catalog and Study Tools Concur Technologies, Inc., is a large expense-management company located in Redmond, Washington. The Wall StreetJournaI asked Concur to examine Partner Offers 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 entertainment, 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 Rental Options entertainment. The table in the Excel Online le below shows the average daily 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 spreadsheet to answer the following questions. 33 College Success Tips i. .- Career ccess Tips Open spreadsheet a. Choose the correct diagram for these data with the room rate as the independent variable. You are eligible for a FREE 7- day trial of Cengage Unlimited The correct scatter diagram is @- or Cengage Unlimited eTextbooks Entertainment (S) I 50 Learn more I60 I40 E] Give Feedback no i l l i 9 Help 122....xisx ' :1 Alan Tovey, Topic: Module 7 Discus X MindTap - Cengage Le X Excel Online Student V X Chapter 14 Mindtap 14 X C Concur Technologies, | X C Concur Technologies I X + Sign in to your account X ABP Update : about:blank X Excel template - Saved File Home Insert Formulas Data Review View Help Tell me what you want to do Comments X Cut 10 " A" A" ap Wrap Text General AutoSum Arial AY O [ Copy Merge & Center $ ~ % 9 Conditional Format Cell Insert Delete Format Clear Sort & Find & Paste Filter ~ Select Format Painter BIUDab Av Formatting ~ as Table ~ Styles v Alignment Number Tables Cells Editing Undo Clipboard Font D14 fx B C D E F H I K M N O P Q R S A Hotel Room Rate Entertainment MAWNI City ($) ($) Part a. Use the area below to draw a scatter diagram. Boston 146 159 Denver 95 105 Nashville 94 102 New Orleans 110 143 Phoenix 91 99 San Diego 104 118 San Francisco 132 169 9 San Jose 87 139 10 Tampa 86 98 11 12 13 14 15 16 17 18 19 20 Part c. Formula 21 Slope #N/A 22 23 Intercept #N/A 24 25 Part e. 26 Room Rate in Chicago 128 27 Data + Help Improve Office - 100% + Calculation Mode: Automatic Workbook Statistics Show All X Alan Tovey, 3 MiniCase13_122....xIsx Alan Tovey,Sign in to your account X Topic: Module 7 Discus X MindTap - Cengage Le X Excel Online Student V X Chapter 14 Mindtap 14 X C Concur Technologies, | X C Concur Technologies I X + about:blank ABP Update : X Excel template - Saved File Home Insert Formulas Data Review View Help Tell me what you want to do Comments X Cut Arial 10 AA ap Wrap Text General AutoSum AY O [ Copy BIUDab v. Merge & Center $ ~ % 9 Conditional Format Cell Insert Delete Format Clear Sort & Find & Paste Format Painter AY Formatting ~ as Table ~ Styles v Filter ~ Select Cells Undo Clipboard Font Alignment Number Tables Editing C24 fx A B C D E F G H I J K L M N O P Q R S 10 Tampa 86 98 11 12 13 14 15 16 17 18 19 20 Part c. Formula Slope #N/A Intercept #N/A Part e. Room Rate in Chicago 128 Entertainment Expense for 28 Chicago #N/A 30 31 32 33 34 35 36 Data + Calculation Mode: Automatic Workbook Statistics Help Improve Office - 100% + Alan Tovey, 3 MiniCase13_122....xIsx Alan Tovey, Show All X
