A restaurant manger, Coleman, at the Four Seasons Hotel wants to predict/forecast a number of meals to be prepared for the breakfast since the labor costs and cost of good sold are vey high and does not want to create high volume of waste and manage the inventory in a proper way.

He looks through the previous data (2016) to determine the relationship between the number of guest stayed at the hotel and number of meals served from the following data:

Number of guest stayed at the hotel (Guest)      Number of meals (breakfast) served (Meals)

Guest   Meals

23        69

29        95

29        102

35        118

42        126

46        125

50        138

54        178

64        156

66        184

76        176

78        225

1. Run the regression analysis using MegaStat (Excel)
2. Run the Scatter Plot
3. Determine the relationship: Y = A + BX (whether this data is good to RUN/USE for constructing the relationship between

Y = (describe which one is used for Y):

X = (describe/identify which one is used for X):

A = (A refers to ?) and provide a number

B = (B refers to ?) and provide a number

4. Sara wants to prepare the breakfast for tomorrow based on the guests number of 70. Determine how many meals to be prepared for tomorrow?

Over the past six months, Six Flags conducted a marketing study on improving their park experience. The study cost $3.00 million and the results suggested that Six Flags add a kid's only roller coaster.

Suppose that Six Flags decides to build a new roller coaster for the upcoming operating season. The depreciable equipment for the roller coaster will cost $50.00 million and an additional $5.00 million to install. The equipment will be depreciated straight-line over 20 years.

The marketing team at Six Flags expects the coaster to increase attendance at the park by 5%. This translates to 107,883.00 more visitors at an average ticket price of $38.00. Expenses for these visitors are about 13.00% of sales.

There is no impact on working capital. The average visitor spends $21.00 on park merchandise and concessions. The after-tax operating margin on these side effects is 34.00%. The tax rate facing the firm is 35.00%, while the cost of capital is 6.00%.

What is the project cash flow for year 1? (express answer in millions)

What is the NPV of this coaster project if Six Flags will evaluate it over a 20-year period? (Six Flags expects the first year project cash flow to grow at 5% per year, going forward)
(Express answer in millions)

What are GASB requirements for bonded debt?

Town Oaks’ residents want to start a fund to improve their local community. Town Oaks, a gated community, has voted to create a neighborhood park with bonded debt. The bonds will be repaid by the residents and the following transactions are related to park debt:

• The community has a tax burden for the park of $5,000,000, which is imposed on January 1, 20X7.

• Payments start at the beginning of the current year and will be paid in 10 equal annual payments.

• 5% interest is due on the unpaid installments.

• Payments and interest on the unpaid payments was collected by December 31, 20X7.

• A small amount of the assessed receivables was reclassified to current in the amount of 20X8 installments.

• The initial principal payment of $500,000 and the interest on the debt was paid to bondholders on January 1, 20X8.

Required:

• Identify the type of fund the city should impose to account for this special assessed debt.

• Prepare journal entries for the city’s transactions.

• Identify how the city should report the fund in their financial statements?

• Identify how the city should report special assessed debt in their financial statements? •

Compare the treatments of special assessed debt from the United States with at least two other countries. Would the same reporting practices be used and why?

E10-8 Recording and Reporting a Bond Issued at a Discount (with Discount Account) LO10-4

Park Corporation is planning to issue bonds with a face value of $610,000 and a coupon rate of 7.5 percent. The bonds mature in 6 years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. Park uses the effective-interest amortization method and also uses a discount account. Assume an annual market rate of interest of 8.5 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided. Round your final answer to whole dollars.)  

Required:

1. Prepare the journal entry to record the issuance of the bonds. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

2. Prepare the journal entry to record the interest payment on June 30 of this year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

3. What bond payable amount will Park report on its June 30 balance sheet? (Enter all amounts with a positive sign.)

Poco Miller is the RM at the Hampton Inn. Mark is the property’s FOM and Latisha is the DOSM. All three serve on the hotel’s RM committee. The hotel has 200 rooms. Next month the hotel will serve as the host hotel for the Retired Firefighters Association. The Association originally blocked 100 rooms per night for Thursday, Friday, and Saturday nights at a rate of $99.00 per night. All the rooms in their block have been picked up. The current rooms availability forecast for the three days of the meeting is as follows:

The group has requested that Latisha add 30 rooms each night to its block at the originally contracted rate of $99.00. It states that its members will use all of the additional rooms if they are made available, but if not, they will move their remaining 30 attendees down the street to the Comfort Inn. Latisha is in favor of increasing the block and keeping the group together. Mark is opposed. He is convinced he can sell 20 more rooms on Thursday, 40 rooms on Friday, and 30 rooms on Saturday at the normal rack rate of $129.99. Under his plan, he states, “The hotel can maximize its ADR.”

Based on Mark’s estimate of future sales to be made at rack rate, Poco knows the hotel will sell out and maximize its occupancy percentage under Latisha’s plan. Help Poco analyze the data she needs to answers the questions that follow by filling in the chart.

A. What would the hotel’s ADR be under Mark’s plan?
B. What would the hotel’s RevPAR be under Mark’s plan?
C. What would the hotel’s ADR be under Latisha’s plan?
D. What would the hotel’s RevPAR be under Latisha’s plan?
E. Who’s plan would you advise Poco to support? Explain your rationale.

I just started this job 2 weeks ago as the CEO’s personal assistant. He is married 3x and is a very charismatic man, the CEO of a self-built multi-million empire. After a few days, he suddenly asked me if he could take me out to diner in London, if I book my flights and hotel he will afterwards reimburse me. [1] It was then, she relates, that she knew he wanted to sleep with her. In her words, she’s “totally not interested, but wants to preserve the job by not rejecting him.” So she made an excuse to get out of it and her post continues: “He then bothered me for hours about giving him good reasons why I couldn’t go. Then he said OK, next week we will go to Milan! He is a very powerful man, and I just get nervous of him. But I really do not want to lose my job. What should I do?” [

2] Make the case that Chourok C is not ethically free to go to Milan with him in order to advance her career, regardless of whether she’s attracted to him or not. The poster called Skater Boi proposes an aggressive solution: “Get a voice recorder and record what he says: blackmail if he tries to fire you.”

5. The poster called Skater Boi proposes an aggressive solution: “Get a voice recorder and record what he says: blackmail if he tries to fire you.”

Case study Hotel owners and operators recognize that while we are currently living in a world of scant lodging demand, talk of reopening the country is the necessary precursor to a recovery in travel and the need for hotel accommodations. Just like cities and states need to plan, closed hotels must plan the "how" and "when" of their reopening. As in any business decision, the costs and benefits of remaining closed versus resuming operations must be weighed. During a time when travel is restricted and little can be done to stimulate demand, the primary objective is to limit operating losses through cost containment. At the same time, hotel owners and managers must prepare for an eventual recovery in demand and the reopening of their property. Touch base with your competitors to see when they plan on reopening. It may or may not make sense to reopen when they do, depending on the anticipated depth of demand at that time. Beyond their timing, are your competitors shifting their mix of business and/or distribution strategy? How has their pricing changed since prior to the crisis? Online research or market research providers will help you determine shifts in their marketing or positioning, or lack thereof, potentially providing you with alternate opportunities. Drive-to locations such as regional resorts are more likely to benefit, as well, due to the pent-up demand for vacations and weekend staycations. While urban destinations have historically attracted drive-in demand during a recession because consumers save money, compared with the costs of flying, city centers may have less appeal in this downturn until the fear of group mingling and dense locations diminish. Urban hotels, particularly those with a group orientation, will have to find ways to adapt creatively to this new environment. Government lodging contracts for first responders, medical professionals, and quarantined individuals are helping many urban hotels survive this period of low demand. Another consideration is the hotel's historical transient vs. group mix, which will often parallel the amount of meeting and function space relative to the number of guestrooms. The more the hotel is dependent on group demand, the more it will be critical to see clear indications from planners of the intent to book in order to identify when to reopen. Transient travelers, whether they be corporate, leisure, or any other sub-segment, can make and implement travel decisions quickly, whereas the lead time for group demand is longer than that for the transient segment, making the lead time for reopening necessarily longer, as well. Another factor to consider when weighing when to reopen is the weekly volatility of demand. Will you be opening to accommodate infrequent events that generate high occupancy temporarily and then be faced with abnormally low occupancy that caused you to close in the first place? Having to carry the ongoing costs of an open hotel may only be worthwhile if an adequate level of steady demand is sustainable. If this is a risk, opening just parts of the hotel, such as wings/floors or only certain outlets, could mitigate the financial exposure. As a member of a leading 5’star hotel in Sri Lanka and a under graduate how would you find answers / give alternatives for the below questions.

1. Based on the given case study identify when receiving goods/raw material to the hotel?

2. Identify temperature checks for the staff and guests?

3. Based on the given case study how are you going to promote adventure tourism to the local
market?

4.Based on the given case study identify Why do you need to monitor the competition for
Arugambay?

5.Based on the given case study identify What health and safety measures you are going to
implement for tourists who are going to visit Sri Lanka from 1st of August after Covid – 19

6.EpidemicsEvent management can generate a lot of revenue comparatively in a short period of
time. Plan an event for 1750pax in your hotel by providing an event sheet an appropriate menu with
vegetarian choices and a sample budget (generic fixed and variable costs). Please elaborate your
answer with appropriate examples.

7.Why emerging tourism trends are playing a vital role in terms of revenue generation? How can
we promote destinations within the island to create a niche market for this demand? Please explain
your answer with appropriate examples.

Let z denote a random variable having a normal distribution with ? = 0 and ? = 1. Determine each of the probabilities below. (Round all answers to four decimal places.)

(a) P(z < 0.3) =  

(b) P(z < -0.3) =  

(c) P(0.40 < z < 0.85) =  

(d) P(-0.85 < z < -0.40) =  

(e) P(-0.40 < z < 0.85) =  

(f) P(z > -1.26) =  

(g) P(z < -1.5 or z > 2.50) =

The probability of getting a false-positive result for a single person, was 0.3%.

What would be the new approximate percentage probability of getting at least one false-positive result, if 650 people had been tested, instead of 550?

What would be the new approximate percentage probability of getting at least one false-positive result, if 550 people are still tested, but the probability of getting a false-positive result for a single person was 0.4% instead of 0.3% ?