The file Hotel Prices contains the prices in British pounds(about US$ 1.52 as of July 2013) of a room at two-star, three-star,and four-star hotels in cities around the world in 2013.
City | Two-Star | Three-Star | Four-Star |
Amsterdam | 74 | 88 | 116 |
Bangkok | 23 | 35 | 72 |
Barcelona | 65 | 90 | 106 |
Beijing | 35 | 50 | 79 |
Berlin | 63 | 58 | 76 |
Boston | 102 | 132 | 179 |
Brussels | 66 | 85 | 98 |
Cancun | 42 | 85 | 205 |
Chicago | 66 | 115 | 142 |
Dubai | 84 | 67 | 111 |
Dublin | 48 | 66 | 87 |
Edinburgh | 72 | 82 | 104 |
Frankfurt | 70 | 82 | 107 |
Hong Kong | 42 | 87 | 131 |
Istanbul | 47 | 77 | 91 |
Las Vegas | 41 | 47 | 85 |
Lisbon | 36 | 56 | 74 |
London | 74 | 90 | 135 |
Los Angeles | 80 | 118 | 200 |
Madrid | 47 | 66 | 79 |
Miami | 84 | 124 | 202 |
Montreal | 76 | 113 | 148 |
Mumbai | 41 | 72 | 90 |
Munich | 79 | 97 | 115 |
New York | 116 | 161 | 206 |
Nice | 69 | 87 | 133 |
Orlando | 45 | 78 | 120 |
Paris | 76 | 104 | 150 |
Rome | 75 | 82 | 108 |
San Francisco | 92 | 137 | 176 |
Seattle | 95 | 120 | 166 |
Shanghai | 22 | 49 | 79 |
Singapore | 58 | 104 | 150 |
Tokyo | 50 | 82 | 150 |
Toronto | 72 | 92 | 149 |
Vancouver | 74 | 105 | 146 |
Venice | 87 | 99 | 131 |
Washington | 85 | 128 | 158 |
a. Compute the mean, median, first quartile, and thirdquartile.
b. Compute the range, interquartile range, variance, standardde-viation, and coefficient of variation.
c. Interpret the measures of central tendency and variationwithin the context of this problem.
d. Construct a boxplot. Are the data skewed? If so, how?
e. Compute the covariance between the average price at two-starand three-star hotels, between two-star and four-star hotels, andbetween three-star and four-star hotels.
f. Compute the coefficient of correlation between the averageprice at two-star and three-star hotels, between two-star andfour-star hotels, and between three-star and four-star hotels.
g. Which do you think is more valuable in expressing therelation-ship between the average price of a room at two-star,three-star, and four-star hotels—the covariance or the coefficientof cor-relation? Explain.
h. Based on (f), what conclusions can you reach about therelationship between the average price of a room at two-star,three-star, and four-star hotels?