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A suburban hotel derives its revenue from its hotel and restaurant operations

A suburban hotel derives its revenue from its hotel and restaurant operations. The owners are interested in the relationship between the number of rooms occupied on a nightly basis and the revenue per day in the restaurant. The dataset is a sample of 25 days (Monday through Thursday) from last year showing the restaurant income and the number of rooms occupied.

1) Does the revenue seem to increase as the number of occupied rooms increases? Draw a scatter diagram to support your conclusion.

2) Determine the correlation coefficient between the two variables. Interpret the value.

3) Is it reasonable to conclude that there is a positive relationship between revenue and occupied rooms? Use the .10 significance level.

4) What percent of the variation in revenue in the restaurant is accounted for by the number of rooms occupied?

Task#2 (under Excel spreadsheet Task 2): The Cronch Café, located at the Gulf of Mexico, has an increase in business during the summer vacation season. The owner hires a large number of servers as seasonal help. When he interviews a prospective server, he would like to provide data on the amount a server can earn in tips. He believes that the amount of the bill and the number of diners are both related to the amount of the tip. He gathered this sample information.

1) Develop a multiple regression equation with the amount of tips as the dependent variable and the amount of the bill and the amount of diners as independent variables. Write out the regression equation. How much does another diner add to the amount of the tips?

2) Conduct a global test of hypothesis to determine if at least one of the independent variables is significant What is your conclusion?

Sample Solution

in manufacturing and mining. It is important too, to understand the rise of unemployment in South Africa, to fully appreciate the contemporary short comings of the labour market. Until the mid-1970’s South Africa, much like other Sub-Saharan African countries, experienced labour shortages. Nattrass (1996:46; 2001) notes that in response to this challenge the South African government used coercive measures to ensure cheap labour to meet the demands of industry, mines, and commercial farms. Development driven by gold revenues and foreign capital ensured a consistent flow of labour away from traditional agriculture in favour of rapid urbanization (Nattrass 1996:46; Stander 1996). But this growth ground to a halt in the mid-1970s when the gold boom burst and effectively lost its luster. By the late 1970s unemployment had taken hold such that by 1994, one third of the African labour force was simply unable to find work. From the mid-1920s South Africa’s industrialisation strategy mirrored that of Latin America with a strong inward focus. Initially, this strategy supported labour-intensive industries but slowly began losing steam by the 1960s. Unlike the East Asian economies, who at that time adopted a more outward-orientated export approach, South Africa closed in with heavier protectionist measures and a capital-intensive industry approach. These developments, together with negative real interest rates and large-scale strategic investments such as Sasol, made for a lethal concoction of rising capital intensity. The net result is that economy became increasingly more capital intensive at the expense of labour intensity. The issue of employment creation is a hotly contested one in South African politics. Twenty years after democracy, it is still the election-dominating card, and the priority of national, provincial and municipal card. In fact, amongst the biggest and most visible political parties, the promise to create jobs is at the top of their election manifestos. ‘We have created 3.7million work opportunities over the past 5years’ ‘ Zuma, State of the Nation 2014 ‘The manifest we release today is a manifesto for jobs’ ‘ Helen Zille, Leader of opposition Democratic Alliance. Without getting into the political semantics it is important to heed Bhora’s (2003) cautions that we must understand the absolute expansion of employment within context. More simply, the number of jobs that have been created must be understood against the number of new entrants that have come into the labour market over the same period. For example, between 1995 and 2002: 1.6million jobs were created. However, 5 million ne

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