Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

help! Suppose that we randomly select 50 billing statements from each of the computer databases of the Hotel A, the Hotel B, and the Hotel

help!

image text in transcribed
Suppose that we randomly select 50 billing statements from each of the computer databases of the Hotel A, the Hotel B, and the Hotel C chains, and record the nightly room rates. The means and standard deviations for the data are given in the table. Hotel A Hotel B Hotel C Sample Average ($) 140 160 110 Sample Standard 17.8 22.5 Deviation 12.3 (a) Find a 95% confidence interval for the difference in the average room rates for the Hotel A and the Hotel B chains. (Use Hotel A - Hotel B. Round your answers to two decimal places.) $ to $ (b) Find a 99% confidence interval for the difference in the average room rates for the Hotel B and the Hotel C chains. (Use Hotel B - Hotel C. Round your answers to two decimal places.) $ to $ (c) Do the intervals in parts (a) and (b) contain the value (#1 - /2) = 0? Yes, the interval in part (a) contains (#1 - M2) = 0. Yes, the interval in part (b) contains (#1 - #2) = 0. Yes, both intervals contain (#1 - #2) = 0. O No, neither interval contains (#1 - #2) = 0. Why is this of interest to the researcher? O If (H1 - M2) = 0 is contained in the confidence interval, it is implied that the average room rate for the two hotels was $0. O If (#1 - 12) = 0 is contained in the confidence interval, it is implied that there is a difference in the average room rates for the two hotels. If (H1 - M2) = 0 is contained in the confidence interval, it is implied that we cannot conclude there is a difference in the average room rates for the two hotels. O If (H1 - M2) = 0 is contained in the confidence interval, it is implied that the room rate for one of the hotels was $0. O If (H] - M2) = 0 is contained in the confidence interval, it is implied that there was an error in the database records. (d) Do the data indicate a difference in the average room rates between the Hotel A and the Hotel B chains

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

Finite Mathematics

Authors: Stefan Waner, Jerry Lee Ford Jr, Waner/Costenoble, Steven Costenoble

5th Edition

ISBN: 1111789304, 9781111789305

More Books

Students also viewed these Mathematics questions