European City Change in Hotel Costs U.S. City Change in Hotel Costs Ljubljana -0.009 Birmingham 0.074 Hotel prices worldwide are projected to increase by 3% next year, but is there a difference between Europe and US? Suppose we have projectd changes in hotels cost for 47 randomly selected major European cities and 53 randomly selected major American Cities. Geneva 0.000 Pittsburgh 0.089 Zagreb 0.060 Indianapolis -0.013 Stockholm 0.041 Norfolk 0.070 Tirana 0.082 Boston 0.077 Riga 0.076 Winston-Salem 0.074 Istanbul 0.021 Stockton 0.021 Bucharest 0.073 Laredo 0.024 Budapest 0.045 Corpus Christi 0.088 Part a Minsk 0.023 Portland 0.020 On the basis of the sample results, can we conclude that the mean change in hotels rates in Europe and US are different ? Develop appropriate null and alternative hypotheses. Rome 0.033 St. Paul 0.061 Antwerp 0.012 Memphis 0.086 Reykjavik -0.002 Virginia Beach 0.052 Düsseldorf 0.044 Newark -0.001 Kraków 0.071 Austin 0.077 Frankfurt -0.002 San Francisco 0.102 Vilnius 0.057 Greensboro 0.053 Part b Timisora 0.005 Nashville-Davidson 0.030 Use alpha = 0.01, what is your conclusion? Helsinki 0.072 Chicago 0.085 Odessa 0.084 El Paso 0.027 Pristina 0.006 Omaha 0.028 Tallin 0.039 San Diego 0.080 Banja Luka 0.082 Madison 0.105 Chisinau 0.015 Fort Worth 0.024 Belfast 0.032 Cincinnati 0.085 Zurich 0.041 Tampa 0.001 Copenhagen -0.005 Sacramento 0.000 Bratislava 0.020 Honolulu 0.047 Ankara 0.057 St. Petersburg 0.096 Athens 0.069 Lincoln 0.006 Brussels 0.059 Oakland 0.082 Kryvy Rig 0.073 St. Louis 0.064 Volgograd 0.038 Lubbock 0.018 Novi Sad 0.079 Wichita 0.003 Belgrade -0.016 New York City 0.043 Tblisi 0.052 Orlando 0.071 Zagreb -0.008 San Jose 0.079 Sarajevo 0.083 Atlanta 0.000 St Petersburg 0.071 Dallas 0.106 Kiev 0.012 Cleveland 0.015 Glasgow -0.004 Tulsa 0.102 Split 0.055 Baton Rouge 0.089 Sofia 0.057 Jacksonville 0.057 Amsterdam 0.019 Minneapolis 0.064 Skopje 0.053 Detroit -0.001 Vilnius 0.036 Los Angeles 0.027 Essen 0.055 Anchorage -0.021 Jersey 0.016 Washington 0.035 Durham 0.057 Phoenix 0.010 Anaheim -0.011 Philadelphia 0.020
Hotel prices worldwide are projected to increase by 3% next year, but is there a difference between Europe and US? Suppose we have projectd changes in hotels cost for 47 randomly selected major European cities and 53 randomly selected major American Cities.
Geneva
0.000
Pittsburgh
0.089
Zagreb
0.060
Indianapolis
-0.013
Stockholm
0.041
Norfolk
0.070
Tirana
0.082
Boston
0.077
Riga
0.076
Winston-Salem
0.074
Istanbul
0.021
Stockton
0.021
Bucharest
0.073
Laredo
0.024
Budapest
0.045
Corpus Christi
0.088
Part a
Minsk
0.023
Portland
0.020
On the basis of the sample results, can we conclude that the mean change in hotels rates in Europe and US are different ? Develop appropriate null and alternative hypotheses.
Rome
0.033
St. Paul
0.061
Antwerp
0.012
Memphis
0.086
Reykjavik
-0.002
Virginia Beach
0.052
Düsseldorf
0.044
Newark
-0.001
Kraków
0.071
Austin
0.077
Frankfurt
-0.002
San Francisco
0.102
Vilnius
0.057
Greensboro
0.053
Part b
Timisora
0.005
Nashville-Davidson
0.030
Use alpha = 0.01, what is your conclusion?
Helsinki
0.072
Chicago
0.085
Odessa
0.084
El Paso
0.027
Pristina
0.006
Omaha
0.028
Tallin
0.039
San Diego
0.080
Banja Luka
0.082
Madison
0.105
Chisinau
0.015
Fort Worth
0.024
Belfast
0.032
Cincinnati
0.085
Zurich
0.041
Tampa
0.001
Copenhagen
-0.005
Sacramento
0.000
Bratislava
0.020
Honolulu
0.047
Ankara
0.057
St. Petersburg
0.096
Athens
0.069
Lincoln
0.006
Brussels
0.059
Oakland
0.082
Kryvy Rig
0.073
St. Louis
0.064
Volgograd
0.038
Lubbock
0.018
Novi Sad
0.079
Wichita
0.003
Belgrade
-0.016
New York City
0.043
Tblisi
0.052
Orlando
0.071
Zagreb
-0.008
San Jose
0.079
Sarajevo
0.083
Atlanta
0.000
St Petersburg
0.071
Dallas
0.106
Kiev
0.012
Cleveland
0.015
Glasgow
-0.004
Tulsa
0.102
Split
0.055
Baton Rouge
0.089
Sofia
0.057
Jacksonville
0.057
Amsterdam
0.019
Minneapolis
0.064
Skopje
0.053
Detroit
-0.001
Vilnius
0.036
Los Angeles
0.027
Essen
0.055
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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