Hotel pricing changes over time, but is there a difference between Europe hotel prices and U.S. hotel prices? The DATAfileIntHotels contains changes in the hotel prices for 47 major European cities and 53 major U.S. cities. a)On the basis of the sample results, can we conclude at the 99% confidence level that the mean changes in hotel rates in Europe and the United States are different?b)Construct a 99% confidence interval for the difference between the mean change in hotel prices in Europe and the United States. c) Does the confidence interval confirm the results of the hypothesis test from the previous question? DATAfileIntHotels. European City Change in Hotel Costs U.S. City Change in Hotel Costs Ljubljana -0.009 Birmingham 0.074 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 Minsk 0.023 Portland 0.020 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 Timisora 0.005 Nashville-Davidson 0.030 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 pricing changes over time, but is there a difference between Europe hotel prices and U.S. hotel prices? The DATAfile IntHotels contains changes in the hotel prices for 47 major European cities...

Hotel pricing changes over time, but is there a difference between Europe hotel prices and U.S. hotel prices? The DATAfileIntHotels contains changes in the hotel prices for 47 major European cities and 53 major U.S. cities.

a)On the basis of the sample results, can we conclude at the 99% confidence level that the mean changes in hotel rates in Europe and the United States are different?

b)Construct a 99% confidence interval for the difference between the mean change in hotel prices in Europe and the United States.

c) Does the confidence interval confirm the results of the hypothesis test from the previous question?

DATAfileIntHotels.

European City	Change in Hotel Costs	U.S. City	Change in Hotel Costs
Ljubljana	-0.009	Birmingham	0.074
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
Minsk	0.023	Portland	0.020
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
Timisora	0.005	Nashville-Davidson	0.030
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

Jun 08, 2022

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Hotel pricing changes over time, but is there a difference between Europe hotel prices and U.S. hotel prices? The DATAfile IntHotels contains changes in the hotel prices for 47 major European cities...

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