Production & Operations Mgmt in Business

posted by .

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

– 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 hotel’s 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 hotel’s 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 …
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 hotel’s distance from the beach? Does this relationship make sense to you? Why or why not?
Type in your answer her

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Economics

    The table below shows annual demand (in 1,000,000 units per year) for Widgets. Use this information to calculate a constant growth forecasting model. Use your growth model to forecast demand for the years 1995 and 2000. Year Demand …
  2. Operations Management

    Hi, can anyone think of a business (service, products), that does NOT use operations management?
  3. Economics

    You are planning to estimate a short-run production function for your firm, and you have collected the following data on labor usage and output. Labor usage output 3 1 7 2 9 3 11 5 17 8 17 10 20 15 24 18 26 22 28 21 30 23 (a) Does …
  4. math

    can someone please help me fast before midnight. a)I need the correlation between x and y b)slope of linear regression c)y intercept of linear regression for the points (1,8)(2,6)(3,4)(4,2)(5,5)
  5. operation management

    (01) Why study operations management? (02) What is the difference between the terms “production management” and “operations management’?
  6. Production and Operations management

    A ball bearing assembly firm wants to set up an assembly line which must have an output of 60 units per hour. The work elements are A to J and the task times are 40, 30, 50, 40, 6, 25, 15, 20, 18 and 30 seconds respectively. a. Determine …
  7. grammar

    Diagram the simple subject, the simple predicate, and the direct object of each sentence. Diagram any indirect object as well. 1. People solve problems every day. People/solve/problems 2. A computer will provide answers. Computer/will/provide …
  8. Statistics

    Simple Linear Regression Analysis 2. Weight of Car: Miles gallon – Do heavier cars really use more gasoline?
  9. statistics

    Healthy breakfast contains the rating of 77 cereals and the number of grams of sugar contained in each serving. A simple linear regression model considering "sugar" as the explanatory variable and "rating" as the response variable …
  10. Computer

    Your computer is running a lot of services and applications when you log on that you never use. What implications can this mean for your computer?

More Similar Questions