Question

The Dow Jones Travel Index reported what business travelers pay for hotel rooms per night in major U.S. cities (The Wall Street Journal, January 16, 2004). The average hotel room rates for 20 cities are as follows: Atlanta $163 Minneapolis $125 Boston 177 New Orleans 167 Chicago 166 New York 245 Cleveland 126 Orlando 146 Dallas 123 Phoenix 139 Denver 120 Pittsburgh 134 Detroit 144 San Francisco 167 Houston 173 Seattle 162 Los Angeles 160 St. Louis 145 Miami 192 Washington, D.C. 207

Answer 1

The mean hotel room rate based on the reported room rates paid by business travelers in 2003 by the Dow Jones Travel Index is $159.05.

What is the mean?

The mean is the average of a set of data or numbers.

It is a typical value that averagely represents the dataset.

The mean can be computed by dividing the total by the number of data values.

Data and Calculations:

Atlanta                     $163

Minneapolis            $125

Boston                       177

New Orleans            167

Chicago                    166

New York                245

Cleveland                126

Orlando                    146

Dallas                       123

Phoenix                   139

Denver                    120

Pittsburgh               134

Detroit                     144

San Francisco         167

Houston                  173

Seattle                    162

Los Angeles           160

St. Louis                 145

Miami                     192

Washington, D.C. 207

Total = $3,181

Mean = $159.05 ($3,181/20)

Question Completion:

What is the mean hotel room rate?

Thus, the mean hotel room rate based on the reported room rates paid by business travelers in 2003 by the Dow Jones Travel Index is $159.05.

Learn more about mean or average at https://brainly.com/question/20118982

#SPJ1