A researcher wants to investigate the influence of the average no. of nights spent per year by the tourists from Japan on the average amount spent by them. Table 3 shows the related data obtained from...

A researcher wants to investigate the influence of the average no. of nights spent per year by the tourists from Japan on the average amount spent by them. Table 3 shows the related data obtained from the Department of Statistics Malaysia website. Table 4 shows a portion of Microsoft Excel output for the regression analysis performed based on the data in Table 3.

Table 3: Data on the nights spent by tourists from Japan and amount spent

Table 4: Regression analysis

a. Note that the value of B₀ and B₁
are missing from Table 4. Using the right formulas, calculate the value of B₀
and B₁.

b. Build the regression equation based on the values calculated in 4(a).

c. Interpret the value of B₁.

d. Based on the p-value in Table 4, at a 95% confidence level, can we conclude that the average no. of nights spent by the tourists from Japan significantly influence the average amount spent by them?

e. Estimate the average amount possibly spent by the Japanese tourists in a particular year if an average of 10 nights was spent.