Instruction 11-4
a Hotel Chain Has Identically Sized Resorts in Five

question 90

Short Answer

Instruction 11-4
A hotel chain has identically sized resorts in five locations. The following data resulted from analysing the hotel guests on randomly selected days in the five locations.
$$\begin{array} { | l | l | l | l | l | l | } \hline \text { ROW } & \text { Caymen } & \text { Pennkapmp } & \text { California } & \text { Mayaguez } & \text { Maui } \\\hline 1 & 28 & 40 & 21 & 37 & 22 \\\hline 2 & 33 & 35 & 21 & 47 & 19 \\\hline 3 & 41 & 33 & 27 & 45 & 25 \\\hline\end{array}$$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$$\text { Analysis of Variance }$
$\begin{array} { | l | l | l | l | l | l | } \hline{ \text { Analysis of Variancs } } \\\hline \text { Source } &\text { d f }& \text {SS} & \text { MS } & \text { F }& \text { p }\\\hline \text { Location } & 4 & \mathbf { 9 6 3 . 6 } & & 11.47 & 0.001 \\\hline \text { Error } & 10 & \mathbf { 2 1 0 . 0 } & & & \\\hline \text { Total } & & & & & \\\hline\end{array}$
-Referring to Instruction 11-4,the total variation or SST is________.

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Definitions:

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good that consumers are willing to purchase at various prices.

Competitive Market

A market structure characterized by a large number of buyers and sellers, where no single participant has significant market power to influence prices.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price.

Marginal Revenue

The additional income generated from selling one more unit of a good or service. It is a vital concept in determining the optimal level of output for a company.