A suburban hotel derives its revenue from its hotel andrestaurant operations. The owners are interested in therelationship between the number of rooms occupied on a nightlybasis and the revenue per day in the restaurant. Below is a sampleof 25 days (Monday through Thursday) from last year showing therestaurant income and number of rooms occupied. Day Income OccupiedDay Income Occupied 1 $ 1,452 20 14 $ 1,425 31 2 1,361 20 15 1,44551 3 1,426 21 16 1,439 62 4 1,470 80 17 1,348 45 5 1,456 70 181,450 41 6 1,430 29 19 1,431 62 7 1,354 70 20 1,446 47 8 1,442 2121 1,485 43 9 1,394 15 22 1,405 38 10 1,459 36 23 1,461 36 11 1,39941 24 1,490 30 12 1,458 35 25 1,426 65 13 1,537 51 PictureClickhere for the Excel Data File Use a statistical software package toanswer the following questions.
b. Determine the coefficient of correlation between the twovariables. (Round your answer to 3 decimal places.) Pearsoncorrelation State the decision rule for 0.01 significance level:H0: ? ? 0; H1: ? > 0 (Round your answer to 3 decimal places.)Reject H0 if t > Compute the value of the test statistic. (Roundyour answer to 2 decimal places.) Value of the test statistic
c. Is it reasonable to conclude that there is a positiverelationship between revenue and occupied rooms? Use the 0.01significance level. H0, There is a between revenue and occupiedrooms.
d. What percent of the variation in revenue in the restaurant isaccounted for by the number of rooms occupied? (Round your answerto 1 decimal place.) % of the variation in revenue is explained byvariation in occupied rooms.
