Final answer:
The costs incurred at a Hyatt Regency hotel can be measured by considering the cost per night in various cities, adjusting for the duration and frequency of stays, and including other potential spending like meals or services. To analyze price differences, more comprehensive data and statistical tests would be required.
Step-by-step explanation:
To measure the costs incurred during one month in a Hyatt Regency hotel, the student would need to examine the detailed costs associated with staying at such a hotel. This includes the cost of staying at the hotel per night in various cities as shown in Table 10.33. For example, the Hyatt Regency cost in New York City is $625, in Los Angeles and Indianapolis is $179, and in Washington, DC is $245.
The total cost would therefore depend on the length of the stay and the specific city. If the traveler stays at the hotel for five hours per day for half a year (approximately 1000 hours), the total cost would be $7.20. However, because this is a hypothetical scenario, the student would need to adjust the duration and frequency of stays according to their specific needs.
To conduct a statistical analysis, such as testing at the 1 percent level of significance for price differences among 10 cities, the student would need a more detailed dataset, including the prices of the hotels in these cities. Additionally, the student might consider other incurred costs, such as meals, services, and transportation expenses during the hotel stay.
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