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Current Year Previous Year Occupied Rooms 1,505 1,411 Total Rooms 1,750 1,700

Current Year Previous Year Occupied Rooms 1,505 1,411 Total Rooms 1,750 1,700

A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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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 1,505 1,411 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 pi = population proportion of rooms occupied for current year P2 = population proportion of rooms occupied for previous year Ho: P1 – P2 less than or equal to 0 Ha : Pi - p2 greater than 0 b. What is the estimated proportion of hotel rooms occupied each year (to 2 decimals)? Current year .86 Previous Year .83 c. Conduct a hypothesis test. What is the p-value (to 4 decimals)? Use Table 1 from Appendix B. p-value = .5040 Using a 0.05 level of significance, wha is your conclusion? We can conclude 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 pleased with the occupancy statistics as the trend for the current year is an increase in hotel occupancy rates compared to last year.
Transcribed Image Text: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 1,505 1,411 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 pi = population proportion of rooms occupied for current year P2 = population proportion of rooms occupied for previous year Ho: P1 – P2 less than or equal to 0 Ha : Pi - p2 greater than 0 b. What is the estimated proportion of hotel rooms occupied each year (to 2 decimals)? Current year .86 Previous Year .83 c. Conduct a hypothesis test. What is the p-value (to 4 decimals)? Use Table 1 from Appendix B. p-value = .5040 Using a 0.05 level of significance, wha is your conclusion? We can conclude 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 pleased with the occupancy statistics as the trend for the current year is an increase in hotel occupancy rates compared to last year.
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