A suburban hotel derives its gross income from its hotel and restaurant operations. The owners are interested in the relationship between the number of room occupied on a nightly basis and the revenue per day in the restaurant. Please use the hotel sample data of 25 days (Monday through Thursday) from last year showing the restaurant income and number of rooms occupied. The hotel data is located in the Resources section of Blackboard. Use a statistical software package to determine whether the breakfast revenue seems to increase as the number of occupied rooms increases. Draw a scatter diagram to support your conclusion. (Minitab: Graph – Scatter plot – Simple, y variable = income, x variable = occupied) (SPSS: Graph – Chart Builder – Select Scatter Dot, X-axis = occupied, y-axis = income)
Discuss possible business implications of the results. What advertising strategies might you suggest based on the data?
Businesses, scientists and the medical community are always using correlation analysis to aid in the decision- making process. Finding relationships is an important process. For instance, fast food chains would use regression to determine the labor hours needed based on a projected sales volume, while scientists and those in the medical field would use this tool to help identify patterns of cause and effect. Research and discuss a biblical passage regarding the correlation of various factors and our relationship with God (i.e. mustard seed).
200 to 300 words
minimum of two academic peer reviewed scholarly articles