Purchase Solution

Business Statistics: Vacation Occupancy Rates

Not what you're looking for?

Ask Custom Question

Vacation occupancy rates were expected to be up during March 2008 in Myrtle Beach, SC. Data in the file Occupancy will allow you to replicate the findings presented in the newspaper. The data show units rented and not rented for a random sample of vacation properties during the first week of March 2007 and 2008.

1) Estimate the proportion of units rented during the first week of March 2007 and the first week of March 2008.
2) Provide a 95% confidence interval for the difference in proportions.
3) On the basis of your findings, does it appear March rental rates for 2008 will be up from those a year earlier?

Attachments
Purchase this Solution
Purchase this Solution
Free BrainMass Quizzes
Know Your Statistical Concepts

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.

Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.

Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.

Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.

View More Free Quizzes
Related BrainMass Solutions

  • Improve Decision Making: Database to Clarify Business Strategy

    Now totally renovated, the inn uses a romantic weekend package to attract couples, a vacation package to attract young families, and a weekday discount package to attract business travelers.

  • Descriptive statistics : Hypothesis testing

    Being of an inquisitive mind and wishing to impress your current statistics instructor, you determine to figure if there is a significant difference in the two occupancy rates - that is, must something other than statistical error and normal chance be

  • Revenue Maximizing Hotel Booking

    What is the occupancy rate? What is the revenue gain? 5. If the hotel posts three rates: a mid-week rate, a weekend rate, and a weekly rate, what are the revenue-maximizing prices? What is the occupancy rate? What is the revenue gain?

  • Josie's Place Inn - cost approaches to pricing

    Step 9 30 rooms x 365 days = 10,950 = 100% room occupancy Therefore, 10,950 x 0.80 = 8,760 = 80% room occupancy Step 10 Average room rate = 641,320/8,760 room nights = 73.21 Average room rates be decreased by 2.28 and still meet the

  • St. Mark's Hospital Occupancy Rates, Variable Costs, Fixed Costs

    Mark's hospital occupancy rates, variable costs and fixed costs.

  • Hotel Performance Indicators

    For example, if the performance indicator related to occupancy is showing less than optimal occupancy rate or less than average/ industry occupancy rates, it is cause of worry for the hotel and the strategic plan need to be reviewed to improve occupancy

  • SWOT of Hilton Hotels

    rates substantially.

  • Techniques in Business Economic Statistics

    80295 Techniques in Business Economic Statistics Test at the 0.01 level the statement that 55% of those families who plan to purchase a vacation residence in Florida want a condominium. The null hypothesis is ? = 0.55 and the alternate is ? ? 0.55.

  • Tax Research: Ethics

    Because Andy is taking a personal vacation, he should use the regular fare rates, even though the state university does not check to determine if the travel was used for business or personal reasons.

View More Related Solutions