April 20, 2014

Homework Help: Production & Operations Mgmt in Business

Posted by Jack on Sunday, September 30, 2012 at 12:23am.

If someone could help me, I am truly desperate here. I am struggle with this problem.

Ė Simple Linear Regression Applications
Interpretation and Use of Computer Output (Results)

(1) The management of an international hotel chain is in the process of evaluating the possible sites for a new unit on a beach resort. As part of the analysis, the management is interested in evaluating the relationship between the distance of a hotel from the beach and the hotelís average occupancy rate for the season. A sample of 14 existing hotels in the area is chosen, and each hotel reports its average occupancy rate. The management records the hotelís distance (in miles) from the beach. The following set of data is obtained:

Distance (miles) 0.1 0.1 0.2 0.3 0.4 0.4 0.5 0.6 Ö
Occupancy (%) 92 95 96 90 89 96 90 83 85

Distance (miles) 0.7 0.8 0.8 0.9 0.9
Occupancy (%) 80 78 76 72 75

Use the computer output to respond to the following questions:

(a) A simple linear regression was ran with the occupancy rate as the dependent (explained) variable and distance from the beach as the independent (explaining) variable

Occpnc = b + b (Distncy)

What is the estimated regression equation?
Type in your answer here

(b) Interpret the meaning behind the values you get for both coefficients b and b .
Type in your answer here

(c) What sort of relationship exists between average hotel occupancy rate and the hotelís distance from the beach? Does this relationship make sense to you? Why or why not?
Type in your answer her

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