The Following table shows the regression coefficient (B) and the t-statistics (T

Question

The Following table shows the regression coefficient (B) and the t-statistics (T) for the variables influencing business traveler demand for hotel rooms (including hotel prices and attributes) from the study that was discussed in this chapter and in Chapter 3
Business Traveler Demand for Hotel Rooms

Attributes B (t)

Price (S/night) -0.0.346 (8.83)

Room quantity 1,258 (5,92)

1= average

2= finest

Quantity of public areas 0.227 (0.88)

1= average

2= finest

Check – in time (minutes) -0.036 (-1.50)

Guaranteed Reservation 1.227 (4.88)

1= no

2= yes

General Staff performance 0.169 (0.74)

1= average

2= yes

Frequent guest programs 0.37 (1.52)

1=no

2=yes

Availability of nonsmoking floors 0.359 (2.29)

1 = no

2= yes

Availability of free parking 0.969 (4.61)

1= no

2= yes



Which characteristics are most and least important in influencing business traveler demand for hotel rooms?

Explanation / Answer

In influencing business traveler demand for the for the hotel rooms we will find the standard error of all the variables which are influencing the business traveler demand for the for the hotel rooms.

Standard error (S.E.)= regression coefficient (B)/ T-statistic

higher the standard error of a variable, lower is its influence on the dependent variable (here it is the business traveler demand for the for the hotel rooms).

on calculating the S.E. of all the variables we find that it is least for check in time (0.024) and highest for room quantity (2.125). Hence check in time is the most important variable in influencing the business traveler demand for hotel room and the room quantity is the least important.

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