Problems 1 – Explain each of the following statements using supply-and-demand diagrams.
“When a cold snap hits Florida, the price of orange juice rises in supermarkets throughout the country.”
“When the weather turns warm in New England every summer, the price of hotel rooms in Caribbean resorts plummets.”
“When a war breaks out in the Middle East, the price of gasoline rises and the new price of a used Cadillac falls.”
In: Economics
Amusement Park ABC has an average of 230 customers per hour arriving at a ticket counter where 8 employees are working. Each employee can serve an average of 30 customers per hour. The squared coefficient of variation for the inter-arrival times is 1.5 and 2 for the service times. a) On average, how many customers will be present at the ticket counter? b) On average, how long will a customer have to wait for an employee?
In: Statistics and Probability
you have a small hotel serving international customers from all over the world and you need to find a supplier that will provide you milk, cheese, and other dairy products. What will be the advantage and disadvantage of working with a small supplier who sells most of his products to you ? What will be the advantage and disadvantage of working with a very large supplier who sells only 1% of its products to you ? Discuss in ten or twelvesentences.
In: Operations Management
The manager of a small hotel resort is considering expansion. He would like to issue bonds but do not quite understand why he may or may not receive what amount of money is stated on the face of the bond but he has to repay what is on the face of the face bond. Write a report to the manager explaining the market forces that determine how much money will be collected. Also explain how the interest payment on bonds are calculated and paid.
In: Accounting
In: Economics
Based on the data below, forecast US hotel revenues for 2017, 2018, and 2019. Provide the model developed for your calculations.
YEAR REVENUE ($USD BILLION)
2001 105.00
2002 111.90
2003 118.80
2004 119.30
2005 135.50
2006 146.20
2007 153.80
2008 154.70
2009 133.30
2010 142.00
2011 153.30
2012 155.50
2013 163.00
2014 176.70
2015 189.50
2016 199.30
In: Finance
Please give a movie review of any movie. The movie can be any ENGLISH speaking movie of your choice. Examples would be Star Wars (newer series), Best Exotic Marigold Hotel, The 100 Foot Journey etc.. Any film that you feel will suit the assignment. Please make sure the movie is NOT a foreign film, and that it is no older than 10-15 years old.
at least 3-4 pages
In: Psychology
Suppose a particular test of cognitive ability has been found to have great practicality in selecting members of a high school debate team. How much practicality would this same test have for the following situations?
Law school application
Art school application
A police hostage negotiation unit
Executive level positions in a labour union
Actors in a theme park who spend their day dressed in a character costume
In: Psychology
You are a hotel manager and you are considering four projects that yield different payoffs, depending upon whether there is an economic boom or a recession. The potential payoffs and corresponding payoffs are summarized in the following table. Project Boom (50%) Recession (50%) A $20 -$10 B -$10 $20 C $30 -$30 D $50 $50 If a manager adopted both project A and B simultaneously, the variance in returns associated with this joint project would be:
In: Economics
On a dark desert highway, a car leaves a gas station and heads straight for 10 km, heading exactly northeast.
(i.e., directed 45 degrees northward of due east). The car then turns onto a dirt road and drives completely
straight until it reaches a hotel located exactly 12 km north and 9.0 km east of the gas station. How far did the
car drive along the straight dirt road?
In: Physics