Since the full reopening of the economy there has been a drastic increase in the number of tourist arrivals to the island. Use the model below to provide inferences to the Jamaica Tourist Board: Arr i
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=700+2,000 inc i
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+1,504DS i
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+2,890D w
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+ u
i
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(2.6008) (1.008) (1.7890) (1.1289) n=3,000R 2
=0.47 Where: Arr = Number of tourist arrivals inc = Income ($) DS= Distance from the source country (miles) D w
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=1 if it is winter season in the source country The standard errors are in parenthesis. a. Interpret all the coefficients. (3 mark) b. Test the hypothesis at the 10% level of significance that as income increases by $1 the number of tourist arrivals will increase by 1,370 . (6 marks) c. Test the null hypothesis at the 1% level of significance that there is a significant difference between visitor arrivals during the winter and summer seasons in the source countries. (6 marks) d. Comment on the overall significance of the model. (5 marks)