Author Question: What are your hypotheses regarding this model? Explain. Are there any other variables you would have ... (Read 140 times)

stephzh · **on:** Jun 24, 2018

What are your hypotheses regarding this model? Explain. Are there any other variables you would have liked to include?

What will be an ideal response?

Question 2

Find the probability that the percentage of successes is between 0.38 and 0.43

What will be an ideal response?

tjayeee · **Reply #1 on:** Jun 24, 2018

Answer to Question 1

We would expect that as the number of airline passengers increases, demand for rooms would also increase. We would expect lower occupancy rates with higher room rates. We might expect that higher consumer confidence might lead to more leisure travel, which might mean a higher occupancy rate. We might also expect higher occupancy during the summer months when there are typically more tourists staying in hotels.

Answer to Question 2

P(0.38 < P < 0.43 n = 1800, P = 0.40 ) P(0.38 < P < 0.43 = 0.40, = 0.01155 )
= P (-1.73 < Z < 2.60 )
= 0.4582 + 0.4953 = 0.9535