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A survey of hotels found that the average hotel room rate in New Orleans is $88.42 and the average room rate in Phoenix is $80.61. The survey sampled 50 hotels in each city. The standard deviations were $5.62 and $4.83, respectively. At alpha=.05, it can be concluded that there is a significant different in the rates?
**Weegy:** The difference in rate between New Orleans and Phoenix is $7.81 **User:** The accountant for Thomas’s Furniture Store is concerned regarding the outstanding receivable owed the company. There has been a cash flow problem and it is believed that the slow collection of accounts receivable is partially the blame. The accountant believes that 40% of the present accounts are more than 4 months behind in making payments. To be able to make a decision regarding this belief, a random sample of 100 accounts was taken. It was found that 37 accounts were more than 4 months late. Did the sample data confirm the accountant’s belief? Use the .05 significant level for the statistical test. **Weegy:** I think they should run a thorough check on the accounts to see the if there is only 37 accounts that are more than 4 months. **User:** Mr. Thomas owns three different restaurants in Cincinnati, Ohio. He is concerned about the profitability of the restaurants. There are monthly differences between the restaurants and he wants to determine if the differences in profit are significant. Mr. Thomas wants to do a statistical test to see if he should be concerned. The best test to address this problem would be what? **Weegy:** Business Statistics is the science of 'good' decision making in the face of uncertainty and is used in many disciplines, such as financial analysis, econometrics etc (More)

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Asked 11/7/2011 5:49:18 PM

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What is the variable used to predict another variable called?
A. Independent variable
B. Dependent variable
C. Moderating variable
D. Intervening variable **Weegy:** A) Independent variable is the variable used to predict another variable. (More)

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Asked 11/7/2011 6:31:00 PM

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A test is conducted in eight cities to see if giving away free transit system maps will increase bus ridership. In a regression analysis, the dependent variable is the increase in bus ridership in thousands of persons from the start of the test until its conclusion. The independent variables are X1 = the number in thousands of free maps distributed and X2 = a binary equal to 1, if the city has free downtown parking and 0 otherwise. The estimated regression equation is Y = 1.32 .0345X1-1.45X2. ...**Weegy:** The estimated regression equation for Y should be Y = 1.32+.0345X1-1.45X2. There is error in your given equation. And the answer for that equation will be 1.15 (More)

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Asked 11/7/2011 6:52:29 PM

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A research company has been hired by a realty company to do an analysis of heating cost of homes in the region. The realty company wanted to be able to predict the heating cost of a typical single-family home. The realty company was constantly being asked questions regarding heating costs by potential home buyers. It was believed that these variables would impact heating costs (Y'): mean daily outdoor temperature (X1), the number of inches of insulation (X2), and the age in years of the furnace ...**Weegy:** i have seen the formula but i could not see the statement. Maybe you need to make it complete. (More)

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Asked 11/7/2011 6:39:54 PM

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