Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Hint(s) Check My Work Tourism is extremely important to the economy of Florida. Hotel occupancy is an often-reported measure of visitor volume and visitor activity
Hint(s) Check My Work Tourism is extremely important to the economy of Florida. Hotel occupancy is an often-reported measure of visitor volume and visitor activity (Orlando Sentinel, May 19, 2018). Hotel occupancy data for February in two consecutive years are as follows. Current Year Previous Year Occupied Rooms 1,435 1,326 Total Rooms 1,750 1,700 a. Formulate the hypothesis test that can be used to determine whether there has been an increase in the proportion of rooms occupied over the one-year period. Let p1 = population proportion of rooms occupied for current year p2 = population proportion of rooms occupied for previous year Ho : p1 - P2 - Select your answer - Ha : P1 - p2 - Select your answer b. What is the estimated proportion of hotel rooms occupied each year (to 2 decimals)? Current year Previous Year c. Conduct a hypothesis test. What is the p-value (to 4 decimals)? Use Table 1 from Appendix B. p-value = Using a 0.05 level of significance, what is your conclusion? We - Select your answer - v that there has been an increase in the hotel occupancy rate. d. What is the 95% confidence interval estimate of the change in occupancy for the one-year period (to 4 decimals)? to Do you think area officials would be pleased with the results? Officials would likely be - Select your answer - v|with the occupancy statistics as the trend for the current year is - Select your answer - * in hotel occupancy rates compared to last year
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started