Questions
According to a research​ institution, the average hotel price in a certain year was ​$107.64 ....

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 ....

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...

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 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

Mangement is considering two hotel projects. Project A will be in Jamaica with an intial investment...

  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
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;

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

In: Finance

Toby is considering two hotel projects. Project A will be in Jamaica with an initial investment...

  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.

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;

  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.                        

In: Finance

The manager of the Hilton Resort Hotel stated that the mean guest bill for a weekend...

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...

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...

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

Chermo was the new GM at a world-class resort that was part of a multiunit hotel...

Chermo was the new GM at a world-class resort that was part of a multiunit hotel group that had just opened on an island in the South Pacific. His organization had purchased an existing resort property at a beautiful beach location and had spent 18 months and millions of U.S. dollars to renovate the property. In efforts to appease the community and because it needed experienced staff members, it had employed many of the previous hotel’s employees during the remodeling process and had offered them positions in the new property when it opened.

One of these staff members was Bula Ben (not his real name but that which he preferred) who was responsible for the property’s landscape maintenance. During the first three weeks after the property opened, he was responsible for three problems: he had purchased and directed his grounds persons to spray toxic chemicals around the pool and outdoor dining areas to control insects and ground lizards; he had, without permission, begun building a storage shed to house equipment used to protect windows during cyclone emergencies; and he unilaterally determined which of his staff should be available to interact with guests during their arrival and departure ceremonies.

1. If you were the expatriate GM, what would you do about “Bula Ben”?
2. What might cause Bula Ben to act without approval?
3. What, if any, critical concerns might these “problem” examples suggest about the property’s management and leadership procedures?

In: Operations Management