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

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Basic Math

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

Answer & Explanation Solved by verified expert
4.3 Ratings (746 Votes)
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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