Question No 9.68La Quinta Motor Inns developed a computer model tohelp predict the profitability of sites that are being consideredas locations for new hotels. If the computer model predictslarge profits, La Quinta buys the proposed site andbuilds a new hotel. I f the computer model predicts small ormoderate profits, La Quinta chooses not to proceed withthat site (data extracted from S. E. Kimes and 1. A.Fitzsimmons, “Selecting Profitable Hotel Sites at La QuintaMotor Inns,” Interfaces, Vol. 20, March•-April 1990.pp. 12-20). This decision-making procedure can be expressedin the hypothesis-testing framework. The null hypothesis isthat the site is not a profitable location. The alternativehypothesis is that the site is a profitable location.a. Explain the risks associated with committing a Type Jerror in this case.b. Explain the risks associated with committing a Type Ilerror in this case.c. Which type of error do you think the executives atLa Quinta Motor Inns want to avoid? Explain,d. How do changes in the rejection criterion affect the probabilitiesof committing Type J and Type II errors?
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
EssayBrill has stood as the world’s leading custom essay writing services providers. Once you enter all the details in the order form under the place order button, the rest is up to us.
At EssayBrill, we prioritize on all aspects that bring about a good grade such as impeccable grammar, proper structure, zero-plagiarism and conformance to guidelines. Our experienced team of writers will help you completed your essays and other assignments.
Admission and Business Papers
Be assured that you’ll definitely get accepted to the Master’s level program at any university once you enter all the details in the order form. We won’t leave you here; we will also help you secure a good position in your aspired workplace by creating an outstanding resume or portfolio once you place an order.
Editing and Proofreading
Our skilled editing and writing team will help you restructure you paper, paraphrase, correct grammar and replace plagiarized sections on your paper just on time. The service is geared toward eliminating any mistakes and rather enhancing better quality.
We have writers in almost all fields including the most technical fields. You don’t have to worry about the complexity of your paper. Simply enter as much details as possible in the place order section.