Академический Документы
Профессиональный Документы
Культура Документы
ECON1203
1. EXECUTIVE SUMMARY
Page |2
ECON1203
Family Income
Family
Income
31%
23
69%
Under
$80,000
Over
$80,000
Page |3
ECON1203
Frequen
cy
67
Relative
Frequency
33.50%
Page |4
3
4
5
6
Total
24
69
20
20
200
ECON1203
12%
34.50%
10%
10%
100%
Table 1; A Relative Frequency table displaying the number of people per booking
party.
3 people
34%
4 people
5 people
35%
12%
6 people
Page |5
ECON1203
Customer Ages
40
35
30
25
20
Frequency 15
10
5
0
Bin Class
Page |6
Lengt
h
2
days
3
days
4
days
5
days
6
days
7
days
Total
ECON1203
Frequen Relative
cy
Frequency %
75
37.50%
11
5.50%
2.50%
1%
2.50%
102
51%
200
100.00%
X 102
^p= = =0.51
n 200
^p p
p ( 1p )
n
0.510.5
0.5 0.5
200
=0.283
Page |7
ECON1203
However, 0.283 > -1.645, and therefore does not lie in the rejection region.
Considering the P-Value, P (Z < 0.283) = 0.5 + P (0 < Z < 0.283)
= 0.5 + 0.1103 = 0.6103
Therefore, the null hypothesis is not rejected, as the test statistic is not
contained in the rejection region, reflected in Fig 5. Furthermore, since the Pvalue is greater than 0.10, it is not statistically significant and suggests there is
no evidence to infer that the alternative hypothesis is true. As such, DECS
supports the statement that CPResorts Forster has more than 50% of customers
staying for a full week.
Page |8
ECON1203
238.484
7
2521.64
50.2159
3
40
20
0
Amount ($)
Figure 6; A negatively skewed histogram showing the expenditure per day in excess
of accommodation costs, with a modal class of 201-250, and an outlier at 533. 1
1 The bin classes marked are the maximum values of each bin.
Page |9
ECON1203
238.48260
=
50.22
200
is given by: Z =
x
s
n
-6.06
Since -6.06 < -1.645, the standardized test statistic lies in the rejection region,
as illustrated in Fig. 8.
P a g e | 10
ECON1203
4. CONCLUSION
The statistical analysis conducted by DECS, observed in this report,
establishes that CPResorts Forster is not operating at the target level stated in
the CPResorts business plan. The provided sample data has suggested that the
higher-bracket income group are a central part of the current type of customers,
along with families of 4 and middle-aged consumers. The resort did meet the
first KPI of having more than 50% of customers staying for seven nights.
However, the report illustrates that the resort has been unsuccessful in their
second KPI of customers daily expenditure being over $260. Ultimately, the
resort attracts upmarket customers, as per its business plan position, although
DECS recommends CPResorts to consider reviewing the current promotional
strategies and facilities to better reflect the established customer market.
P a g e | 11
ECON1203
P a g e | 12