THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 67

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
As director of the local tourist board,you are interested in determining the factors that influence the hotel occupancy rate in your city each month.Hotel occupancy can be measured as the percentage of available hotel rooms that are occupied by paying customers.You develop the following model: Y = β₀ + β₁X₁ + β₂X₂ + β₃X₃ + β₄X₄ + ε,where Y is the hotel occupancy rate,X₁ is the total number of passengers arriving at the airport,X₂ is a price index of local hotel room rates,X₃ is the consumer confidence index,and X₄ is a dummy variable = 1 during the months of June,July,and August.You look at data from the past 36 months and obtain the following results:
= 67.1 + 0.02x₁ - 0.055x₂ + 0.08x₃ + 12.3x₄,R² = 0.67,
= 58.3,
= 0.008,
= 0.01,
= 0.06,
= 4.7,and SSE = 576.
-Test the hypothesis H₀ : β₃ = 0 and interpret your results.

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Definitions:

Projective Tests

Psychological assessments where subjects respond to ambiguous stimuli, revealing hidden emotions, desires, and conflicts.

Repressed Memories

Memories of traumatic events unconsciously blocked from conscious awareness, often considered to be a defense mechanism.

Psychological Disorders

Patterns of behavioral or psychological symptoms that impact multiple areas of life, leading to significant distress and impairment in functioning.

Effective Treatment

Therapeutic interventions or approaches that have proven to result in significant improvements in health or well-being, supported by scientific evidence.