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.)
In: Statistics and Probability
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.
In: Statistics and Probability
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?
In: Finance
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.
In: Statistics and Probability
| Years | Project A | Project B |
| Year 1 CashFlow | 316,000.00 | 200,000.00 |
| Year 2 CashFlow | 350,000.00 | 200,000.00 |
| Year 3 CashFlow | (20,000.00) | (15,000.00) |
| Year 4 CashFlow | 280,000.00 | 390,000.00 |
The cost of capital for Project A is 13% and the cost of capital
for project B is 15%.
Calculate the following;
In: Finance
|
years |
Project a |
Project b |
|
Yr1 |
316000 |
200000 |
|
Yr2 |
350000 |
200,000 |
|
Yr3 |
(20000) |
(15000) |
|
yr 4 |
280000 |
390000 |
The cost of capital for Project A is 13% and the cost of capital
for project B is 15%.
Calculate the following;
Managemet can only accept one project. Which project should
management accept? Explain your answer.
In: Finance
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?
In: Statistics and Probability
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). ( , )
In: Math
I need to make an application that calculates the occupancy rate for a hotel with eight floors. The user will be asked how many rooms are occupied on each floor. The program will iterate for each floor. Users must enter numbers and the rooms occupied on each floor cannot exceed 30. The occupancy rate is the number of occupied rooms/ unnoccupied. The application also needs to display the occupancy for each individual floor aswell. Each floor has a maximum of 30 rooms. There are 240 rooms in total. The application doesn't need any fancy graphics just simple text. I'm really lost where to start. I know I need to use for loops and while but I'm not sure how to apply it. Can I get some help?
Python
The code needs to be in Python
In: Computer Science
In: Operations Management