Suppose the guests at the hotel have an average weight of 180 with a standard deviation of 50 pounds. An elevator is designed to carry only 10 people with a maximum capacity of 2400 pounds.

5. What is the mean of the sample mean?

6. What is the standard deviation for the sample mean of the 10 people? (Use 2 decimals)

7. If 10 guest ride the elevator at one time, what is the probability that the elevator is overweight? (Hint: If the 10 people weigh more than 2400 pounds, how much does each person have to weigh on average? (Use 4 decimals)

8. If 12 guests ride in the elevator at one time, now what is the probability that the elevator is overweight? (Hint: the standard deviation also changes here) (Use 4 decimals)

According to a research​ institution, the average hotel price in a certain year was

​$107.64

.

Assume the population standard deviation is

​$20.00

and that a random sample of

46

hotels was selected. Complete parts a through d below.

a. Calculate the standard error of the mean.

sigma Subscript x overbar

equals​$nothing

​(Round to two decimal places as​ needed.)

b. What is the probability that the sample mean will be less than

​$109

​?

Upper P left parenthesis x overbar less than $ 109 right parenthesis

equalsnothing

​(Round to four decimal places as​ needed.)

c. What is the probability that the sample mean will be more than

​$113

​?

Upper P left parenthesis x overbar greater than $ 113 right parenthesis

equalsnothing

​(Round to four decimal places as​ needed.)

d. What is the probability that the sample mean will be between

​$106

and

​$108

​?

Upper P left parenthesis $ 106 less than or equals x overbar less than or equals $ 108 right parenthesis

equalsnothing

​(Round to four decimal places as​ needed.)

According to a research​ institution, the average hotel price in a certain year was ​$95.82 . Assume the population standard deviation is ​$18.00 and that a random sample of 36 hotels was selected. Complete parts a through d below. a. Calculate the standard error of the mean. sigma Subscript x overbar equals​$nothing ​(Round to two decimal places as​ needed.) b. What is the probability that the sample mean will be less than ​$98 ​? Upper P left parenthesis x overbar less than $ 98 right parenthesis equalsnothing ​(Round to four decimal places as​ needed.) c. What is the probability that the sample mean will be more than ​$100 ​? Upper P left parenthesis x overbar greater than $ 100 right parenthesis equalsnothing ​(Round to four decimal places as​ needed.) d. What is the probability that the sample mean will be between ​$94 and ​$96 ​? Upper P left parenthesis $ 94 less than or equals x overbar less than or equals $ 96 right parenthesis equalsnothing ​(Round to four decimal places as​ needed.

The management of the Mojito Theme hotel estimated that they can generate $180,000 and $190,000 in room revenues in 2011 and 2012, respectively, by using some other forecasting methods. However, the total room revenues were actually $185,000 and $200,000 in 2011 and 2012, respectively. The management team wants to come up with a robust forecasting report and they want to see the forecasting results with exponential smoothing model. Therefore, based on the information given, if the management would like to sell 2,500 rooms in 2012, what is the forecasted average daily rate (ADR) in 2012 based on the exponential smoothing model?

The average daily rate of a hotel in Canada as of August 2018 was $172.75. Assume the average daily rate follows a normal distribution with a standard deviation of $28.60.

Standard Normal Distribution Table ( note you need access to this table in order to do this question)

a. What is the probability that the average daily rate of a Canadian hotel will be:

(i) less than $175
P(X < 175)=P(X < 175)=

(ii) more than $205
P(X > 205)=P(X > 205)=

(iii) Between $145 and $185
P(145 < X < 185)=P(145 < X < 185)=

b. Determine the average daily rates that separate the:

(i) top 7% of average daily rates from the rest of the daily rates or from the bottom 93% of average daily rates
x=x=

Round to 2 decimal places.

(ii) bottom 25% of average daily rates from the rest of the daily rates
x=x=

Round to 2 decimal places.

(iii) middle 70% of average daily rates from the rest of the daily rates

  < x <  < x <  

Round to 2 decimal places.

h(i,x)=

{10if  program i halts on input x,otherwise.{1if  program i halts on input x,0otherwise.

1. Mangement is considering two hotel projects. Project A will be in Jamaica with an intial investment of $865,000 and Project B will be in Canada with an initial investment of $750,000

The cost of capital for Project A is 13% and the cost of capital for project B is 15%.
Calculate the following;

1. Calculate the discounted payback period of Project A
   
2. Calculate the discounted payback period of Project B.
   
3. Calculate the net present value for Project A
   
   
4. Calculate the net present value for Project B.

5. Managemet can only accept one project. Which project should management accept? Explain your answer.

1. Toby is considering two hotel projects. Project A will be in Jamaica with an initial investment of $865,000 and Project B will be in Canada with an initial investment of $750,000.

The cost of capital for Project A is 13% and the cost of capital for project B is 15%.
Calculate the following;

1. Calculate the discounted payback period of Project A.                                    
   
2. Calculate the discounted payback period of Project B.                                       
   
3. Calculate the net present value for Project A.                                                   
   
   
4. Calculate the net present value for Project B.   

Managemet can only accept one project. Which project should management accept? Explain your answer.                        

41. Nancy, the owner of a very successful hotel chain in the Southeast, is exploring the possibility of expanding the chain into a city in the Northeast. She incurs $35,000 of expenses associated with this investigation. Based on the regulatory environment for hotels in the city, she decides not to expand. During the year, she also investigates opening a restaurant that will be part of a national restaurant chain. Her expense for this are $53,000. The restaurant begins operations on September 1. Determine the amount that Nancy can deduct in the current year for investigating these two businesses.

34. Daniel is single and has the following income and expenses in 2017:

Salary income $60,000

Net rent income 6,000

Dividend income 3,500

Payment of alimony 12,000

Mortgage interest on residence 4,900

Property tax on residence 1,200

Contribution to traditional IRA 5,000

Contribution to United Church 2,100

Loss on the sale of real estates (held for investment) 2,000

Medical expenses 3,250

State income tax 300

Federal income tax 7,000

a. Calculate Daniel’s AGI.

b. Should Daniel itemize his deductions from AGI or take the standard deduction? Explain.

The manager of the Hilton Resort Hotel stated that the mean guest bill for a weekend is $600 or less. A member of the hotel’s accounting staff noticed that the total charges for guest bills have been increasing in recent months. The accountant will use a sample of future weekend guest bills to test the manager’s claim. a. Which form of the hypotheses should be used to test the manager’s claim? b. What conclusion is appropriate when ?0 cannot be rejected? c. What conclusion is appropriate when ?0 can be rejected? d. What is the Type I and Type II errors in this situation?

Because of staffing decisions, managers of the Gibson-Marimont Hotel are interested in the variability in the number of rooms occupied per day during a particular season of the year. A sample of 24 days of operation shows a sample mean of 294 rooms occupied per day and a sample standard deviation of 26 rooms.

What is the point estimate of the population variance? 676

Provide a 90% confidence interval estimate of the population variance (to 1 decimal). ( , )

Provide a 90% confidence interval estimate of the population standard deviation (to 1 decimal). ( , )