The Condé Nast Traveler Gold List provides ratings for the top 20 small cruise s

Question

The Condé Nast Traveler Gold List provides ratings for the top 20 small cruise ships. The data shown below are the scores each ship received based upon the results from Condé Nast Traveler’s annual Readers’ Choice Survey. Each score represents the percentage of respondents who rated a ship as excellent or very good on several criteria, including Shore Excursions and Food/Dining. An overall score was also reported and used to rank the ships. The highest ranked ship, the Seabourn Odyssey, has an overall score of 94.4, the highest component of which is 97.8 for Food/Dining

1. Write the regression equation. 2. Interpret the regression constant and regression coefficient, 3. Forecast a value for the dependent variable, Test the significant of the regression coefficient at an alpha level of .05, Test the overall significant of the regression model,and Interpret the coefficient of determination. Be sure independent variable are in adjacent columns. Also run a correlation matrix. These questions are to be answered using excel or minitab. Do not solve by hand.

t Copy Paste Picture Table Find Upgr Space EE Space ular 3 4 5 6 Ship Overall Shore Food/Dining Seabourn Odyssey Seabourn Pride National Geographic 94.4 93.0 92.9 Excursions 90.9 84.2 100.0 97.8 96.7 88.5 Endeavor Seabourn Sojourn Paul Gauguin Seabourn Legend Seabourn Spirit Silver Explorer Silver Spirit Seven Seas Navigator Silver Whisperer National Geographic 91.3 90.5 90.3 90.2 89.9 89.4 89.2 89.2 89.1 94.8 87.9 82.1 86.3 92.6 85.9 83.3 82.0 93.1 97.1 91.2 98.8 92.0 88.9 p0.8 90.5 88.6 89.7 Explorer Silver Cloud 88.7 78.3 91.3 Celebrity Xpedition 87.2 91.7 73.6 Words: 391 Chars: 2,428 Page: 3 of 3 17

Explanation / Answer

Here, the overall score would be predicted based upon the Shore Excursions and Food/Dining. Please see below the regression output of excel: -

1.

Overall=54.746+0.1588*Shore Excursions+0.2376*Food/Dining

2.

Constant: Overall would remain constant at 54.746 in absence of all other factors

Shore Excursions: Overall would go up by 0.1588 for every increase of 1 in Shore Excursions keeping everything else constant

Food/Dining: Overall would go up by 0.2376 for every increase of 1 in Food/Dining keeping everything else constant

3.

P-values for all the variables are less than 0.05. Hence, all the predictors are significant at a=0.05. Also, Significance F is 0.0028 and hence overall regression model is significant at 1=0.05. r^2 is 0.6568 which means around 65.68 % of the variation in dependent variable is accounted for by the independent variables

Correlation Matrix: -

SUMMARY OUTPUT Regression Statistics Multiple R 0.810446088 R Square 0.656822862 Adjusted R Square 0.594427019 Standard Error 1.23417744 Observations 14 ANOVA df SS MS F Significance F Regression 2 32.06843793 16.03421897 10.52670865 0.002788373 Residual 11 16.75513349 1.523193954 Total 13 48.82357143 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept 54.74601812 8.042667584 6.806947763 0.00 37.04422612 72.44781012 Shore Excursions 0.15876654 0.058428222 2.717292023 0.02 0.030166892 0.287366189 Food/Dining 0.23761719 0.056599251 4.198239135 0.00 0.113043079 0.362191301

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