Exercise 5.4 Refer back to exercise 2.2. Suppose that you fit the model to 20 data points...

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Exercise 5.4
Refer back to exercise 2.2. Suppose that you fit the model to 20data points and found that your F – value for testing the model isuseful is 49.75.
Exercise 2.2
A hotel manager is concerned about hotel room rates for a largechain of hotels. The variables to be used in this research isdefined as follows:
Y = the daily rate of a room
X1 = the population of the city
X2 = the rating of the hotel (1 star to 5 stars)
X3 = the number of rooms in the hotel
X4 = the number of hotels in the city
Answer the following:
A.) Now conduct the F-test for model utility.
B.) In exercise 5.4, what is the conclusion?
a.
the model is not useful
b.
the model is useful
c.
the results are inconclusive

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Exercise 54 Refer back to exercise 22 Suppose that you fit the model to 20 data points and found that your F value for testing the model is useful is 4975 Exercise 22 A hotel manager is concerned See Answer

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	a.	the model is not useful
	b.	the model is useful
	c.	the results are inconclusive