THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 36

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 : β₄ = 0 and interpret your results.

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Definitions:

Musical Recognition

The cognitive process involved in identifying and categorizing music, including melodies, rhythms, and harmonies.

Reading

The process of interpreting and understanding written symbols and texts, a fundamental skill for acquiring knowledge and communicating.

Left Hemisphere

The left side of the brain, known for controlling speech, comprehension, arithmetic, and writing.

Visual-spatial Abilities

Cognitive skills that enable a person to process and interpret visual information about where objects are in space, including abilities related to visual perception, spatial orientation, and mentally manipulating objects.