TABLE 12-20
Data on the Percentage of 200 Hotels in Each

question 137

Short Answer

TABLE 12-20
Data on the percentage of 200 hotels in each of the three large cities across the world on whether minibar charges are correctly posted at checkout are given below.
$\begin{array}{cccc} \hline& \text { Hong Kong } & \text { New York } & \text { Paris } \\\hline\text { Yes } & 86 \% & 76 \% & 78 \% \\\text { No } & 14 \% & 24 \% & 22 \%\\\hline\end{array}$

At the 0.05 level of significance, you want to know if there is evidence of a difference in the proportion of hotels that correctly post minibar charges among the three cities.
-Referring to Table 12-20, what are the values of the absolute difference and the critical range for the Marascuilo procedure to test for the difference in proportions between Hong Kong and Paris using a 0.05 level of significance?

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Definitions:

Supply

The total amount of a good or service available for purchase at any given price level.

Total Surplus

The sum of consumer surplus and producer surplus in a market; it represents the total net benefit to society from the production and consumption of a good.

Equilibrium

Describes a state in a market where the quantity of a product supplied is equal to the quantity of the product demanded, leading to a stable price.

Gains from Trade

The benefits that parties obtain by engaging in voluntary trade, allowing them to acquire goods and services they desire at less cost compared to self-production.