A random sample of 502 Vail Resorts’ guests were asked to rate their satisfaction on various attributes of their visit on a scale of 1–5 with 1=very unsatisfied and 5 = very satisfied. The regression model was Y= overall satisfaction score, X1= lift line wait, X2= amount of ski trail grooming, X3= ski patrol visibility, and X4= friendliness of guest services. (a) Calculate the t statistic for each coefficient to test for βj= 0.
(b) Look up the critical value of Student’s t in Appendix D for a two-tailed test at α= .01.Which coefficients differ significantly from zero?
(c) Use Excel to find a p-value for each coefficient.
Predictor Coefficient SE
Intercept 2.8931 0.3680
Lift Wait 0.1542 0.0440
Amount Groomed 0.2495 0.0529
Ski Patrol Visibility 0.0539 0.0443
Friendliness Hosts –0.1196 0.0623