Science has been recognized as a critical input in good decision making for park managers. How does the use of science benefit park management decisions?

You are the revenue manager of a 200-room hotel in Memphis. The management controllable costs (variable room costs) incurred when selling 1 room are $50. You are interested in evaluating hotel performance for two scenarios: fixed pricing and differential pricing.

Scenario one is that you used a fixed pricing strategy: at a selling pricing $200 per night your hotel would sell 150 rooms on a given day.

Scenario two is that you implement a three-price strategy: low rate $150 per night, regular rate $200 per night, and high rate $250 per night. Your hotel would sell 100 low-priced rooms, 60 regular-priced rooms, and 20 high-priced rooms per day.

2. Discuss which scenario generates more revenue for your hotel and why?

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4. Leslie has been tasked with putting together a statistical report regarding the use of a particular park in her hometown. Previous data shows that 72% of the residents living in the town visited the park in the last month. She wants to know the probability that more than 98 individuals in a random sample of 150 residents have visited the park in the last month. Please Answer A-C

(a) Based on the information given, is the sample proportion p̂ of residents who have visited the park in the last month approximately normally distributed? Check the appropriate conditions to justify your answer

(b) What is the sample proportion p̂ for Leslies sample of 150 residents? Round your answer to two decimal places?

(c) What is the probability that more than 98 individuals in the random sample of 150 residents have visited the park in the last month?

Question 3. - Please do c, d and e

An engineer suspects that the surface finish of a metal part is influenced by the feed rate and the depth of cut of a particular manufacturing machine. An experiment is conducted and the data can be found in SurfaceFinish.jmp on eCampus.

a. State the two-way ANOVA model corresponding to this data. Be sure to define each term in your model and list any assumptions that are made.

b. Perform the test to determine if the model from part a) is significant.

c. Prepare a profile plot for the cell mean surface finish scores. Does it appear that any interaction effects are present? Explain.

d. Test whether or not interaction effects are present.

e. Given that low surface finish scores are desirable, which combination(s) of feed rate and depth of cut do you recommend?

Depth of Cut (in) = 0.15 0.15 0.15 0.18 0.18 0.18 0.2 0.2 0.2 0.25 0.25 0.25 0.15 0.15 0.15 0.18 0.18 0.18 0.2 0.2 0.2 0.25 0.25 0.25 0.15 0.15 0.15 0.18 0.18 0.18 0.2 0.2 0.2 0.25 0.25 0.25

Feed Rate (in/min) = 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3

Surface Finsih Score = 74 64 60 79 68 73 82 88 92 99 104 96 92 86 88 98 104 88 99 108 95 104 110 99 99 98 102 104 99 95 108 110 99 114 107 111

1-As a hotel owner what are the advantages and disadvantages of using a management company?

2-What are the issues GM's must address when operating a hotel for a management company?

In a survey of 529 travelers, 386 said that location was very important and 323 said that room quality was very important in choosing a hotel.

1. Construct a 90% confidence interval estimate for the population proportion of travelers who said that location was very important for choosing a hotel.
2. Construct a 90% confidence interval estimate for the population proportion of travelers who said that room quality was very important for choosing a hotel.