The Appalachian Bear Center (ABC) is a not-for-profit organization located near the Great Smoky Mountains National Park. ABC’s programs include the rehabilitation of orphaned and injured black bears, as well as research and education about Appalachian black bears. ABC provides the most natural environment possible for rehabilitating black bears before their release back into the wild. Katie Settlage performed a study to learn more about the Appalachian black bear population in the Great Smoky Mountains National Park. She and a team of researchers used a sample of 68 black bears in the park and took measurements such as paw size, weight, and shoulder height. Questions 2 and 3 refer to the following information regarding the shoulder height of the 28 female bears from the study. For these 28 female bears, the sample mean is 75.679 cm and the sample standard deviation is 7.592 cm. Assume the data is normally distributed and the sample is randomly selected.
3. Using an 80% level of confidence, construct the confidence interval for the population standard deviation of the shoulder heights based on the female data and make a statement interpreting these intervals.
show all work plz.
In: Statistics and Probability
9. Application: Elasticity and hotel rooms
The following graph input tool shows the daily demand for hotel rooms at the Triple Sevens Hotel and Casino in Las Vegas, Nevada. To help the hotel management better understand the market, an economist identified three primary factors that affect the demand for rooms each night. These demand factors, along with the values corresponding to the initial demand curve, are shown in the following table and alongside the graph input tool.
Demand Factor Initial Value
Average American household income $40,000 per year
Roundtrip airfare from Los Angeles (LAX) to Las Vegas (LAS) $200 per roundtrip
Room rate at the Exhilaration Hotel and Casino, which is near the Triple Sevens $200 per night
Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph.
Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly.

For each of the following scenarios, begin by assuming that all demand factors are set to their original values and Triple Sevens is charging $200 per room per night.
If average household income increases by 50%, from $40,000 to $60,000 per year, the quantity of rooms demanded at the Triple Sevens _______ from _______ rooms per night to _______ rooms per night. Therefore, the income elasticity of demand is _______ meaning that hotel rooms at the Triple Sevens are _______ .
If the price of a room at the Exhilaration were to decrease by 20%, from $200 to $160, while all other demand factors remain at their initial values, the quantity of rooms demanded at the Triple Sevens _______ from _______ rooms per night to _______ rooms per night. Because the cross-price elasticity of demand is _______ , hotel rooms at the Triple Sevens and hotel rooms at the Exhilaration are _______ .
Triple Sevens is debating decreasing the price of its rooms to $175 per night. Under the initial demand conditions, you can see that this would cause its total revenue to _______ . Decreasing the price will always have this effect on revenue when Triple Sevens is operating on the _______ portion of its demand curve.
In: Economics
New York City is the most expensive city in the United States for lodging. The mean hotel room rate is $204 per night. Assume that room rates are normally distributed with a standard deviation of $55.
a. What is the probability that a hotel room costs $225 or more per night?
b. What is the probability that a hotel room costs less than $140 per night?
c. What is the probability that a hotel room costs between $200 and $300 per night?
d. What is the cost of the 20% most expensive hotel rooms in the New York City?
In: Statistics and Probability
At 800K, 2 mol of NO are mixed with 1 mol of O2. The reaction 2NO(g) + O2(g) <---> 2NO2(g) comes to equilibrium under a total pressure of 1 atm. Analysis of the system shows that 0.71 mol of oxygen are present at equilibrium.
Calculate the equilibrium constant for the reaction.
answers 0.64
In: Chemistry
Sparky Tourism purchased a new building, land and all the related interior furnishings for $250,000. The fair value of each, if purchased separately would be as follows: Land: $150,000, Building: $100,000, Furnishings: $75,000
Explain how the assets should be reflected on the books and why?
Calculate how much should be assigned to each independent asset.
In: Accounting
Home furnishings reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its year-end inventory.
Required:
1. Calculate the total recorded cost of ending inventory before any adjustments.
2. Calculate ending inventory using the lower of cost and net realizable value.
3. Record any necessary adjustment to inventory.
4. Explain the impact of the adjustment in the financial statements.
In: Accounting
New York City is the most expensive city in the United States for lodging. The mean hotel room rate is $204 per night (USA Today, April 30, 2012). Assume that room rates are normally distributed with a standard deviation of $55.
what is the probability that a hotel room costs $225 or more per night?
what is the probability that a hotel room costs less than $140 per night?
What is the probability that a hotel room costs between $200 and $300 per night?
What is the cost of the 20% most expensive hotel rooms in New York City?
In: Economics
Oriental Hotel Bhd owned a few hotels in Malaysia. Their hotel in Melaka is set against a picturesque vista of Melaka’s most famous historical landmarks pf Melaka Raya. The location is close to Melaka City Centre with cheerful nightlife and mere minutes from the acclaimed UNESCO World Heritage site. The office management operates in the same hotel building as the hotel services provided to its guest. The company itself manages the hotel except for the laundry services which was transferred to its tenant, Cuci-Cuci Services Sdn. BHd.
Oriental Hotel Bhd take another step forward in its expansion plan with the opening a new hotel in the southern region in Malaysia. On 1 January 20X5, the company acquired a land for RM3,200,000 to construct a 4-star hotel building in Pangerang, Johor. Construction of the hotel building commenced on 1 March 20X5 and it was completed on 31 January 20X7, but was only used on 1 March 20X7.Total construction cost incurred excluding borrowing costs were RM34,000,000. The construction cost also includes the rectification of RM200,000. In order to finance the construction, the company took an 8%, 3 year-term loan of RM30,000,000 on 1 February 20X5. The company received a government grant of RM1,400,000 on 1 February 20X7 for the newly constructed hotel building. It is the company’s policy to use deferred income method for the government grant received.
Required:
Explain the accounting treatment for government grant received and
how will it differ from the alternative method.
In: Accounting
Ada Hotel sells two room tpes: standard rooms and deluxe rooms.
Average daily rate (ADR) and variable costs (VC) of the two room
types are provided in the table below: (Hint: Treat two room types
as two different products.)
ADR ($) Variable Cost ($)
Standard rooms 394.50 256.43
Deluxe rooms 631.20 366.10
The Mock Hotel's fixed costs for a month is = =
252480
Sales mix (contribution of each room type to total room revenue) of
the hotel is:
Deluxe rooms 66%
Standard rooms 34%
Required:
Using the information provided above, answer the following
questions:
a. What is the break-even room nights (number) for the the hotel
given the sales mix of the two room packages?
b. What must be the room revenue for the hotel to make a profit of
$50,000 a month?
c. If the hotel is considering an advertisement campaign for its
rooms with a cost $5,000, hom much in room revenue should be
generated to cover this extra cost?
In: Accounting
On average, 90 patrons arrive per hour at a hotel lobby (interarrival times are exponential) waiting to check in. At present there are five clerks, and patrons wait in a single line for the first available clerk. The average time for a clerk to service a patron is three minutes (exponentially distributed). Clerks earn $10 per hour, and the hotel assesses a waiting time cost of $20 for each hour that a patron waits in line. If needed, round your answers to the nearest cent. a. Compute the expected cost per hour of the current system. $ b. The hotel is considering replacing one clerk with an Automatic Clerk Machine (ACM). Management estimates that 20% of all patrons will use an ACM. An ACM takes an average of one minute to service a patron. It costs $48 per day (one day equals eight hours) to operate an ACM. Should the hotel install the ACM? Assume that all customers who are willing to use the ACM wait in a separate queue. The hotel replace the clerk with an ACM, as the total hourly cost would to $ .
In: Statistics and Probability