Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

B.T. Marvel the owner/manager of the 100 room Finney Motel, forecasts room revenues based on the number of room sales and expected average daily rate

B.T. Marvel the owner/manager of the 100 room Finney Motel, forecasts room revenues based on the number of room sales and expected average daily rate (ADR). The monthly room sales in units for July-Sept 20X3 were as follows: July: 2,480 August: 2,542 September: 2,325 B.T. believes the room sales for each month will increase by two occupancy points. In addition, B.T. expects the average daily rate for July-September will be $75 (July), $78 (August), and $72 (September). Answer this two part questions: 1. Forecast the expected number of rooms to be sold for each month - that is July, August and September 20X4. 2. Forecast the room revenue for each of the three months. ------ I can't figure this out and my book has no examples. Please show not only the answers but how to do it. I have other similar problems to do. Thank you.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Investment Theory And Risk Management

Authors: Steven Peterson

1st Edition

9781118129593

More Books

Students also viewed these Accounting questions

Question

Solve the following 1,4 3 2TT 5x- 1+ (15 x) dx 5X

Answered: 1 week ago

Question

Outline some key aspects and contemporary issues in IHRM

Answered: 1 week ago