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Problem 1: The average lenght of stay at a popular hotel chain is 4.5 days. A random sample of 20 hotels in the chain had a mean lenght of stay 3.8 days and a standard deviation of 1.2 days. Estimate u the mean lenght of stay at all hotels in the chain with 90% confidance.
a)3.9 +.645b)2.8+.664c)3.2+464d)3.8+464
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In a discussion of dramatic increases in coffee-bean prices, a Wall Street Journal article noted the following fact about Starbucks.
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Determine what affect a sales volume increase or decrease will have on unit fixed cost, unit variable cost, total fixed cost, and total variable cost.
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