Hotel Prices. Hotel room pricing changes over time (Lodging Magazine), but is there a difference between Europe hotel prices and U.S. hotel prices? The file IntHotels contains changes in the hotel prices for 47 major European cities and 53 major U.S. cities. On the basis of the sample results, can we conclude that the mean change in hotel rates in Europe and the United States are different? Develop appropriate null and alternative hypotheses. Use a = .01. What is your conclusion? European City Change in Hotel Costs Ljubljana -0.009 Geneva 0.000 Zagreb 0.060 Stockholm 0.041 Tirana 0.082 Riga 0.076 Istanbul 0.021 Bucharest 0.073 Budapest 0.045 Minsk 0.023 Rome 0.033 Antwerp 0.012 Reykjavik -0.002 Düsseldorf 0.044 Kraków 0.071 Frankfurt -0.002 Vilnius 0.057 Timisora 0.005 Helsinki 0.072 Odessa 0.084 Pristina 0.006 Tallin 0.039 Banja Luka 0.082 Chisinau 0.015 Belfast 0.032 Zurich 0.041 Copenhagen -0.005 Bratislava 0.020 Ankara 0.057 Athens 0.069 Brussels 0.059 Kryvy Rig 0.073 Volgograd 0.038 Novi Sad 0.079 Belgrade -0.016 Tblisi 0.052 Zagreb -0.008 Sarajevo 0.083 St Petersburg 0.071 Kiev 0.012 Glasgow -0.004 Split 0.055 Sofia 0.057 Amsterdam 0.019 Skopje 0.053 Vilnius 0.036 Essen 0.055 U.S. City Change in Hotel Costs Birmingham 0.074 Pittsburgh 0.089 Indianapolis -0.013 Norfolk 0.070 Boston 0.077 Winston-Salem 0.074 Stockton 0.021 Laredo 0.024 Corpus Christi 0.088 Portland 0.020 St. Paul 0.061 Memphis 0.086 Virginia Beach 0.052 Newark -0.001 Austin 0.077 San Francisco 0.102 Greensboro 0.053 Nashville-Davidson 0.030 Chicago 0.085 El Paso 0.027 Omaha 0.028 San Diego 0.080 Madison 0.105 Fort Worth 0.024 Cincinnati 0.085 Tampa 0.001 Sacramento 0.000 Honolulu 0.047 St. Petersburg 0.096 Lincoln 0.006 Oakland 0.082 St. Louis 0.064 Lubbock 0.018 Wichita 0.003 New York City 0.043 Orlando 0.071 San Jose 0.079 Atlanta 0.000 Dallas 0.106 Cleveland 0.015 Tulsa 0.102 Baton Rouge 0.089 Jacksonville 0.057 Minneapolis 0.064 Detroit -0.001 Los Angeles 0.027 Anchorage -0.021 Jersey 0.016 Washington 0.035 Durham 0.057 Phoenix 0.010 Anaheim -0.011 Philadelphia 0.020

Hotel Prices. Hotel room pricing changes over time (Lodging Magazine), but is there a difference between Europe hotel prices and U.S. hotel prices? The file IntHotels contains changes in the hotel prices for 47 major European cities and 53 major U.S. cities. On the basis of the sample results, can we conclude that the mean change in hotel rates in Europe and the United States are different? Develop appropriate null and alternative hypotheses. Use a = .01. What is your conclusion? European City Change in Hotel Costs Ljubljana -0.009 Geneva 0.000 Zagreb 0.060 Stockholm 0.041 Tirana 0.082 Riga 0.076 Istanbul 0.021 Bucharest 0.073 Budapest 0.045 Minsk 0.023 Rome 0.033 Antwerp 0.012 Reykjavik -0.002 Düsseldorf 0.044 Kraków 0.071 Frankfurt -0.002 Vilnius 0.057 Timisora 0.005 Helsinki 0.072 Odessa 0.084 Pristina 0.006 Tallin 0.039 Banja Luka 0.082 Chisinau 0.015 Belfast 0.032 Zurich 0.041 Copenhagen -0.005 Bratislava 0.020 Ankara 0.057 Athens 0.069 Brussels 0.059 Kryvy Rig 0.073 Volgograd 0.038 Novi Sad 0.079 Belgrade -0.016 Tblisi 0.052 Zagreb -0.008 Sarajevo 0.083 St Petersburg 0.071 Kiev 0.012 Glasgow -0.004 Split 0.055 Sofia 0.057 Amsterdam 0.019 Skopje 0.053 Vilnius 0.036 Essen 0.055 U.S. City Change in Hotel Costs Birmingham 0.074 Pittsburgh 0.089 Indianapolis -0.013 Norfolk 0.070 Boston 0.077 Winston-Salem 0.074 Stockton 0.021 Laredo 0.024 Corpus Christi 0.088 Portland 0.020 St. Paul 0.061 Memphis 0.086 Virginia Beach 0.052 Newark -0.001 Austin 0.077 San Francisco 0.102 Greensboro 0.053 Nashville-Davidson 0.030 Chicago 0.085 El Paso 0.027 Omaha 0.028 San Diego 0.080 Madison 0.105 Fort Worth 0.024 Cincinnati 0.085 Tampa 0.001 Sacramento 0.000 Honolulu 0.047 St. Petersburg 0.096 Lincoln 0.006 Oakland 0.082 St. Louis 0.064 Lubbock 0.018 Wichita 0.003 New York City 0.043 Orlando 0.071 San Jose 0.079 Atlanta 0.000 Dallas 0.106 Cleveland 0.015 Tulsa 0.102 Baton Rouge 0.089 Jacksonville 0.057 Minneapolis 0.064 Detroit -0.001 Los Angeles 0.027 Anchorage -0.021 Jersey 0.016 Washington 0.035 Durham 0.057 Phoenix 0.010 Anaheim -0.011 Philadelphia 0.020

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Description: Hotel Prices. Hotel room pricing changes over time (Lodging Magazine), but is there a difference between Europe hotel prices and U.S. hotel prices? The file IntHotels contains changes in the hotel prices for 47 major European cities and 53 major U.S.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

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On the basis of the sample results, can we conclude that the mean change in hotel rates in Europe and the United States are different? Develop appropriate null and alternative hypotheses.
Use a = .01. What is your conclusion?

European City	Change in Hotel Costs
Ljubljana	-0.009
Geneva	0.000
Zagreb	0.060
Stockholm	0.041
Tirana	0.082
Riga	0.076
Istanbul	0.021
Bucharest	0.073
Budapest	0.045
Minsk	0.023
Rome	0.033
Antwerp	0.012
Reykjavik	-0.002
Düsseldorf	0.044
Kraków	0.071
Frankfurt	-0.002
Vilnius	0.057
Timisora	0.005
Helsinki	0.072
Odessa	0.084
Pristina	0.006
Tallin	0.039
Banja Luka	0.082
Chisinau	0.015
Belfast	0.032
Zurich	0.041
Copenhagen	-0.005
Bratislava	0.020
Ankara	0.057
Athens	0.069
Brussels	0.059
Kryvy Rig	0.073
Volgograd	0.038
Novi Sad	0.079
Belgrade	-0.016
Tblisi	0.052
Zagreb	-0.008
Sarajevo	0.083
St Petersburg	0.071
Kiev	0.012
Glasgow	-0.004
Split	0.055
Sofia	0.057
Amsterdam	0.019
Skopje	0.053
Vilnius	0.036
Essen	0.055

U.S. City	Change in Hotel Costs
Birmingham	0.074
Pittsburgh	0.089
Indianapolis	-0.013
Norfolk	0.070
Boston	0.077
Winston-Salem	0.074
Stockton	0.021
Laredo	0.024
Corpus Christi	0.088
Portland	0.020
St. Paul	0.061
Memphis	0.086
Virginia Beach	0.052
Newark	-0.001
Austin	0.077
San Francisco	0.102
Greensboro	0.053
Nashville-Davidson	0.030
Chicago	0.085
El Paso	0.027
Omaha	0.028
San Diego	0.080
Madison	0.105
Fort Worth	0.024
Cincinnati	0.085
Tampa	0.001
Sacramento	0.000
Honolulu	0.047
St. Petersburg	0.096
Lincoln	0.006
Oakland	0.082
St. Louis	0.064
Lubbock	0.018
Wichita	0.003
New York City	0.043
Orlando	0.071
San Jose	0.079
Atlanta	0.000
Dallas	0.106
Cleveland	0.015
Tulsa	0.102
Baton Rouge	0.089
Jacksonville	0.057
Minneapolis	0.064
Detroit	-0.001
Los Angeles	0.027
Anchorage	-0.021
Jersey	0.016
Washington	0.035
Durham	0.057
Phoenix	0.010
Anaheim	-0.011
Philadelphia	0.020

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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