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Exhibit 10-2
A manager of a hotel chain is interested in investigating whether there is a relationship between staff labor hours and bed-day occupancy incurred by a hotel in a month.The manager randomly selected 17 of the hotels in the chain across the country and recorded, for each of the hotels, the staff's total labor hours for the month of July and the number of bed-days of occupancy for that month. (A hotel has occupied one "bed-day" if one bed is occupied (rented) for an entire day.) The manager is interested in seeing if the labor hours incurred can be predicted from the number of bed-days of occupancy on a monthly basis.
The sample data were analyzed using Excel.Shown below is part of the regression analysis output.
-Refer to Exhibit 10-2.According to this regression analysis,if the number of bed-days increases by 200,what is the predicted change in the number of labor hours required for a given month?
Economic Wealth
The accumulation of valuable resources and assets, including money, property, and investments, that contribute to an individual's or nation's economic power and living standard.
Economic Freedom
The ability of individuals to make their own economic decisions, including the decisions to buy, sell, and produce, with minimal government intervention.
Heritage Foundation
A conservative think tank based in the United States that conducts research and advocacy on public policy issues.
Hong Kong
A Special Administrative Region of China known for its vibrant economy and status as a global financial center.
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