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 $265 or more per night? (Round your answer to four decimal places.)
(b)
What is the probability that a hotel room costs less than $120 per night? (Round your answer to four decimal places.)
(c)
What is the probability that a hotel room costs between $210 and $300 per night? (Round your answer to four decimal places.)
(d)
What is the cost in dollars of the 10% most expensive hotel rooms in New York City? (Round your answer to the nearest cent.)
In: Statistics and Probability
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 $255 or more per night? (Round your answer to four decimal places.)
(b)
What is the probability that a hotel room costs less than $130 per night? (Round your answer to four decimal places.)
(c)
What is the probability that a hotel room costs between $200 and $280 per night? (Round your answer to four decimal places.)
(d)
What is the cost in dollars of the 20% most expensive hotel rooms in New York City? (Round your answer to the nearest cent.)
$
In: Statistics and Probability
Describe and explain 10 future sustainability plans of park hyatt hotel Maldives
In: Operations Management
Which of the following represents an example of a population?
| all of the mammals living in the region of Boulder, Colorado |
| the gray squirrels and fox squirrels living in Springfield, Illinois |
| the eastern gray squirrels that live in New York City's Central Park |
| the red foxes found east of the Mississippi River in the United States |
In: Biology
|
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. Use Table 1 in Appendix B. a. What is the probability that a hotel room
costs $225 or more per night (to 4 decimals)? b. What is the probability that a hotel room costs less than $139 per night (to 4 decimals)? c. What is the probability that a hotel room costs between $200 and $300 per night (to 4 decimals)? d. What is the cost of the 20% most expensive
hotel rooms in New York City? Round up to the next dollar. |
In: Statistics and Probability
Talk about the reasons the hotel company Marriott is expanding into markets globally. Describe the motivation for Marriott being a multinational company and talk about current economic implications such as costs, benefits, etc. for the United States of America and any host countries.
At least 200 words, please. Please complete as soon as possible. Thanks in advance!
In: Economics
Lets consider again the willingness to pay for a hotel room and theme park entrance for the four market segments. Also assume as before a market size of 5,000 individuals per day.
|
Segment |
Room |
Theme Park |
Market Share |
|
Amusement Park Lover |
$200 |
$150 |
20% |
|
Luxury Lover |
$300 |
$50 |
10% |
|
Conference Devotee |
$325 |
$5 |
20% |
|
Disney Devotee |
$50 |
$200 |
50% |
Which would be the optimal price to maximize revenue for the Room and Theme Park, without considering the possibility of bundling?
Room: $200
Theme Park: $150
Room: $300
Theme Park: $150
Room: $200
Theme Park: $200
Room: $300
Theme Park: $200
In: Economics
Germany experiences an increase in foreign direct investment (capital outflow) when a German hotel chain opens a new hotel in France.
Select one:
True
False
Net capital outflow refers to the purchase of foreign assets by domestic residents minus the purchase of domestic assets by foreign residents, and, as a result, the U.S. experiences an increase in foreign portfolio investment (capital outflow) when a U.S. resident buys stock in companies located in Japan.
Select one:
True
False
The increase in international trade in the United States is partly due to increased trade of goods with a high value per pound.
Select one:
True
False
A country has $200 million of net exports and $750 million of saving. Therefore, net capital outflow is $200 million and domestic investment is $950 million
Select one:
True
False
Suppose that a pound of copper costs $3 in the United States and costs 40 pesos in Mexico. If 10 Mexican pesos trade for one U.S dollar. then the real exchange rate is 3/4 pounds of Mexican copper per pound of U.S. copper.
Select one:
True
False
In: Economics
Mr. and Mrs. Roberts checked into the Acme Hotel Downtown. Mr. Roberts gave his car keys to the hotel valet so that the valet could park the car and retrieve the car when it was needed. A sign adjacent to the valet stand advises that valet parking is $30 per night and that the hotel is not responsible for damage or loss vehicles. When Mr. Roberts requests the valet deliver his car the following day, the car is missing. Briefly discuss the legal relationship, if any, between the hotel and Mr. Roberts with respect to his vehicle.
What, if any, effect does the disclaimer on the garage sign?
In: Operations Management
2. For each of the following goods, state whether it is excludable or nonexcludable.
a. cable TV service
b. free public wifi
c. the local public library
d. a ride in an Uber, Lyft, or taxi
3. For each of the following goods, state whether it is rival or non-rival.
a. a large public park
b. a freeway that requires toll payments
c. a freeway that does not require toll payments
d. a fresh avocado from the supermarket
4. NOTE: read carefully on page 310 in your textbook before responding.
a. Suppose you buy a new pair of headphones. Is your purchase rival or non-rival? Is it excludable or nonexcludable? Briefly explain why.
b. Suppose that by living in the United States, you benefit from strategic reserves of petroleum held by the U.S. government (Links to an external site.). Is your benefit rival or non-rival? Is it excludable or nonexcludable? Briefly explain why.
5. A postage stamp is something offered by the federal government in the United States. Think about a postage stamp in the context of rival/non-rival and excludable/nonexcludable. With that in mind, is a postage stamp classified as a "private good" or "public good" in the United States?
In: Economics