Quantitative Methods database assignment Example | Topics and Well Written Essays - 2250 words

Quantitative Methods database - Assignment Example Data regarding the hotels were collected from 144 hotels found in these 3 cities and namely 45 hotels from Edinburgh, 54 hotels from London and 45 hotels from Manchester. The information collected were star rating status, review scores, existing price of property, provision of swimming pool, Wi-Fi and whether it is charged. The analysis was based on: The statistical analysis done were the t tests and the ANOVAs to find out whether the p value is les than 0.05 which will mean there is a significant difference between the observations(price) based on locality or other variables and if p value is greater than 0.05 such observed difference will not be considered significant(Warne,2012). Further regression analysis was done to find out how the variables are related to pricing and how they influence price (Wessa, 2014). The sign convention of the coefficients in the equation will indicate whether the particular variable positively or negatively correlates with pricing strategy. Fig 1: The above table and figure reflects the number of hotels in different localities. London has more 4 star and 5 star hotels compared to Edinburgh and Manchester. While 0 star, 1 star and 2 star and 3 star hotels are more in Edinburgh and Manchester compared to London. Fig 8: The above figure reflects the comparison of average price of different star rated hotels in all 3 cities. It reflects London hotels has highest value for the rooms in 2 star, 3 star, 4 star or 5 tar properties compared to similar properties in Manchester or Edinburgh. Two star hotels are significantly priced more in Manchester than Edinburgh (p0.05). In the equation Pri means room price, Sta means star ratings, Rsc means review scores, WiC means wifi charged, FiC means fitness centre, Loc means locality, Dummy variables was assigned to WiC ( if