Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the management of a 9,500-room theme hotel in orla

The management of a 9,500-room theme hotel in Orlando projected an average occupancy of 80.00%...

90.2K

Verified Solution

Question

Accounting

The management of a 9,500-room theme hotel in Orlando projected an average occupancy of 80.00% with an average occupancy of 2.40 people per room. Additionally, the management estimated that 1.54 meals will be needed for each checked-in guest. However, the recent data show that 400 people have not checked into any room. The management has decided to include those people in the forecast for the next year. If the forecasted meal revenue is $260,560, what is the projected price per meal based on the forecasted #of meals to be sold for the next year based on the regression analysis?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Calculus
1.2K views

The function is defined on the closed interval 3 8 and is g graph above...

Finance
1.2K views

Bombs Away Video Games Corporation has forecasted the following monthly sales:   January $ 120,000   July $ 65000   February 113000   August 65000   March 45000   September 75000   April 45000   October 105000   May 40000   November 125000   June 55000   December 143000 Total annual sales = $996,000 Bombs Away...

General Management
1.2K views

Explain the CRM cycle. What is Data Mining? Classify Consumer products. Differentiate Convenience products and shopping products. Classify Consumer...

Biology
1.2K views

You work for a company that has been given the task of retrofitting a 5...

Basic Math
1.2K views

How many permutations of the letters ABCDEFGH contain a the string ED b the strings...

Basic Math
1.2K views

The logistic growth model P(t)=270/1+26e^-0.1681 represents the population of a species introduced into a new...

Accounting
1.2K views

Dr. Kurt Thearling, a leading practitioner in the field, defines data mining as "the q,...

Accounting
1.2K views

Kyohei wants to buy a new guitar that costs $500. He has the money available...

Accounting
1.2K views

Sandhill Co. had the following account balances: What would Sandhill report as total expenses in...

Accounting
1.2K views

Earnings per share is equal to net income applicable to common stock, divided by the...

Accounting
1.2K views

A) On December 31, 2017, Pack-N-Deliver Company completed its first year of operations. The following...

Finance
1.2K views

Crockett Electronics has a quick ratio of 2.00x $28,125 in cash,15,625 in accounts receivable, some...