The following data represent the daily hotel cost and rental car cost for 20 U.S cities during a week in October 2003

CITY HOTEL CARS

San Francisco               205               47

Los Angeles               179               41

Seattle                   185               49

Phoenix               210               38

Denver                   128               32

Dallas                   145               48

Houston               177               49

Minneapolis               117               41

Chicago               221               56

St. Louis               159               41

New Orleans               205               50

Detroit                   128               32

Cleveland               165               34

Atlanta               180               46

Orlando               198               41

Miami                   158               40

Pittsburgh               132               39

Boston                   283               67

New York               269               69

Washington DC           204               40

FOR EACH VARIABLE ( hotel cost and car cost)

a. Compute the mean, median, first quartile, and third quartile)

b. Compute the variance, standard deviation, range, interquartile range, coefficient of Variation

c. Are the data skewed? If so, how?

d. Base don’t he results a) through c), what conclusions can you reach concerning the daily costs of a hotel and rental car

An amusement park, whose customer set is made up of two markets, adults and children, has developed demand schedules as follows: Qa = 20 – Pa where a is adult market Qc = 30 – 2 Pc Where c is children market QT = 50 – 3 PT where T is the two markets combined Assume that the marginal cost of each unit of quantity is $5 (constant), the owners of the park want to maximize profit: A) Calculate the price, quantity and profit if the amusement park charges a different price in each market. B) Calculate the price, quantity and profit if the amusement park charges the same price in the two markets combined.

Donald has recently lost his job as the President of a large North American country and has returned to the family hotel business. Their most prestigious hotel Tramp Tavern has been closed for two years whilst it has undergone refurbishment and the hotel is about to be relaunched. The hotel runs conventionally and has a number of cost centres such as Reception, Concierge, Repairs and Maintenance which are relatively fixed. The hotel also has variable costs relating to cleaning and servicing rooms. You have been provided with the following data regarding the re-furbished Tramp Tavern: Available Rooms 400 Average Room Tariff (per night) $230 Fixed Financing Costs $10 million Fixed Operating Costs $15 million Variable Operating Costs (per night when occupied) $50 Required a) What is the breakeven point (in total room rentals for the year) for the Tramp Tavern? Show the percentage of occupancy that the hotel must achieve in order to break even (show all calculations) (2.5 marks)
b) Donald expects the property to achieve 70% occupancy over the year. What will be his Net Profit (Loss) for the year if they achieve that level of occupancy? (2.5 marks)
c) Hotel rooms (like airline seat tickets) are services that are referred to as ‘perishable’ in that they expire if they are not used on a certain date (they cannot be stored). Donald has determined that he can increase the hotel’s occupancy from 70% to 95% by subscribing to a last-minute deals provider. However, should he do so the average room tariff Tramp Tavern will receive will fall from $230 per night to $190 per night. Provide the profit calculation to demonstrate whether Donald should or should not go ahead with the offer from the lastminute deals provider to sign. (2.5 marks)
d) Briefly discuss any other business issues that Donald should consider before making up his mind whether to proceed with the last-minute deals agreement.

Donald has recently lost his job as the President of a large North American country and has returned to the family hotel business. Their most prestigious hotel Tramp Tavern has been closed for two years whilst it has undergone refurbishment and the hotel is about to be relaunched. The hotel runs conventionally and has a number of cost centres such as Reception, Concierge, Repairs and Maintenance which are relatively fixed. The hotel also has variable costs relating to cleaning and servicing rooms. You have been provided with the following data regarding the re-furbished Tramp Tavern: Available Rooms 400 Average Room Tariff (per night) $230 Fixed Financing Costs $10 million Fixed Operating Costs $15 million Variable Operating Costs (per night when occupied) $50 Required a) What is the breakeven point (in total room rentals for the year) for the Tramp Tavern? Show the percentage of occupancy that the hotel must achieve in order to break even (show all calculations) (2.5 marks) b) Donald expects the property to achieve 70% occupancy over the year. What will be his Net Profit (Loss) for the year if they achieve that level of occupancy? (2.5 marks) c) Hotel rooms (like airline seat tickets) are services that are referred to as ‘perishable’ in that they expire if they are not used on a certain date (they cannot be stored). Donald has determined that he can increase the hotel’s occupancy from 70% to 95% by subscribing to a last-minute deals provider. However, should he do so the average room tariff Tramp Tavern will receive will fall from $230 per night to $190 per night. Provide the profit calculation to demonstrate whether Donald should or should not go ahead with the offer from the lastminute deals provider to sign. (2.5 marks) d) Briefly discuss any other business issues that Donald should consider before making up his mind whether to proceed with the last-minute deals agreement. (

• Check My Work (2 remaining)

EJH Cinemas, a movie theater next to your university, attracts two types of customers: those who are associated with the university (students, faculty, and staff) and locals who live in the surrounding area. There are 10,000 university customers interested in purchasing movie tickets from EJH Cinemas, with a maximum willingness to pay of $7 per ticket. There are 20,000 local customers interested in purchasing tickets, with a maximum willingness to pay of $9 per ticket. The movie theater incurs a constant marginal cost of $4 per ticket. For simplicity, assume each customer purchases, at most, one ticket.

a. What will be the amount of EJH Cinemas’ total revenue if the price is $7 per ticket?

b. What is the amount of consumer surplus if the price is $7 per ticket?

c. What will be the amount of EJH Cinemas’ total revenue if the price is $9 per ticket?

d. What is the amount of consumer surplus if the price is $9 per ticket?

e. If EJH Cinemas decides to practice price discrimination, charging $9 for a standard ticket available to everyone but only $7 for a ticket if you show your university identification (students, faculty, and staff), what will be the movie theater’s total revenue?

f. If EJH Cinemas decides to practice price discrimination, charging $9 for a standard ticket available to everyone but only $7 for a ticket if you show your university identification (students, faculty, and staff), what will be the amount of consumer surplus?

g. If you were in charge of EJH Cinemas, what pricing scheme should you use?

please show the solution.

Suppose an​ ocean-front hotel rents rooms. In the​ winter, demand​ is:

P₁ = 110 - 1Q₁

with marginal revenue​ of:

MR₁ = 110 - 2Q₁

​However, in the​ summer, demand​ is:

P₂ = 260 - 1Q₂

with marginal revenue​ of::

MR₂ = 260 - 2Q₂

Furthermore, suppose the​ hotel's marginal cost of providing rooms is MC= 5 + 1Q which is increasing in Q due to capacity constraints.

Suppose the hotel engages in​ peak-load pricing. During the​ winter, the​ profit-maximizing price is $_______ and the​profit-maxizing quantity is _______ rooms.

During the​ summer, the​ profit-maximizing price is $______ and the​ profit-maximizing quantity is _______.

The marginal cost of production is higher during the _______ (Summer/Winter) during which time the hotel charges a _______ ( Higher/ Lower) price.

A movie theater is planning to offer the possibility to book the seats either online or at the kiosk of the theater. Design the booking application for the theater taking in account the following consideration:

- The theater has 100 seats only.

- More than one user may be trying to book the same seat at the same time.

- Any seat can be booked by only one user.

- A seat can be available for the kiosk agent and the online user at the same time but can be booked by only one of them.

- If the client did not book a seat online or changed his/her mind at the kiosk, the seat must be available again for booking.

Use the process synchronization techniques. You are allowed to use variables as much as you need in the design.

The code does not have to be complicated or detailed. Thanks for the help!