00:01
In this problem, we have given concord technologies is a large expense management company located in redmond and the wall street general asked concord to examine the data from 8 .3 million expense reports to provide insight regarding business travel expenses.
00:29
Their analysis of the data showed that new york was the most expensive city.
00:35
The following table, let me show you the table first.
00:40
So this is the table for city, room rate and entertainment.
00:45
So here this table shows the average daily hotel rate which is represented as x and the average amount of interest spent which is on entertainment which is represented by y.
01:01
For a random sample of 9 to 25 most visited us cities, so this is boston, denver, national, new orleans, phoenix, and san diego, san francisco, san jose, and tampa.
01:16
And the data lead to, so here we have given, this data lead to estimated regression equation which is y cap or we can say y is equals to 17 .49 plus 1 .0334 multiplied with x.
01:35
And for these data we have sse is equals to 1514 .4...