Economic Forecasting. Assume you are a cartoon artist at a local theme park. At your current price, $8.50, you sell 500 sketches a month. As a result of a $1.00 price increase sales reduced by 100 sketches.

1. What is the demand elasticity of your sketches? Interpret your results.
2. Assume your marginal cost is $4. What is your desired margin and your current margin? Interpret these numbers.
3. Was your price strategy profitable? Why or why not?

A survey asked 900 adult Americans how much it would bother them to stay in a room on the 13^th floor of a hotel. Interestingly, 15% said yes. Explain the meaning of the result!

a. What is the Standard Error of the estimate of the population proportion?

b. What is the Margin of Error at a C.L. of 95%?

c. What is the Margin of Error at a C.L. of 92%?

d. At a 98% C.L., if the researcher wants to limit the error within one percent range, what size of the sample is needed?

Which of the following statements indicates a possible fraud? I. Fill out this e-mail survey to receive a free gift. II. Be one of the first 30 callers to receive three days and two nights at a famous Las Vegas hotel. III. Your wealthy uncle recently died; send $250 to obtain details about your inheritance. Group of answer choices

III only.

I, II, and III.

II only.

II and III only.

Heating degree-day (HDD) and cooling degree-day (CDD) futures contracts make payments based on whether the temperature is abnormally hot or cold

. Required: a) Illustrate how these types of contracts are traded on the Chicago Mercantile Exchange (CME) using example(s)

. b) Evaluate why the following business might be interested in such a contract

:i) Soft drink manufacturers;

ii) Ski resort operators;

iii)Electric utilities;

iv)Amusement park operators.

The Kentucky cave shrimp is an endangered species which lacks eyes and has a translucent body suggesting that the animal has long lived underground. An important question that ecologists would like to understand is how biotic as well as abiotic factors in its environment have contributed to restrict the historical range of this unique species from 5 localities in the state to now just the groundwater basins in the Mammoth Cave National Park region. The level of ecological study in question would be: ?

A scientist is interested in whether the color of rice (white vs. brown) makes birds explode with greater force. Six pigeons were captured in Liberty Park. Each was then force-fed five pounds of rice, and the power of the ensuing explosion was then measured: Explosion Strength Rice in Megatons

White 2 White 2 White 3 Brown 8 Brown 9 Brown 10

Perform the one way ANOVA. What’s the between sum of squares (BSS)?

b) As the General Manager of Royal Aroma Hotel ltd with good insight on emotional intelligence, explain three reasons why you should demonstrate empathy in the wake of the COVID-19 global pandemic and its lingering effect of unemployment on your employees.

c) It may be argued that an understanding of organizational communication enables one to improve communication skills and recognize communication problems that arise during employee communication in the workplace. Justify why you would agree with this statement.

1. How do IHG’s multiple brands enable the company to address the needs of specific consumer and business markets?

2. In which stage(s) of the consumer buying decision process would IHG’s digital marketing and social media activities likely have a significant influence? Explain your answer.

3. Why would IHG create a separate hotel brand specifically for China?

4. What are the advantages and disadvantages of each IHG brand having its own social network accounts?

Airlines and hotels have many frequent-flyer and frequent-visitor programs in which individuals who fly the airline or stay at the hotel receive bonuses that are the equivalent to discounts.

Can you give other examples of such programs?

What is a likely reason why firms whose employees receive these benefits do not require their employees to give benefits to the firm?