Hospitality & Tourism Study Guide (math) 100% Solved Questions and Solutions

You interview 913 persons and only 5 prefer Cajun food. What percentage prefer Cajun food? - 0.5% When the national economy goes from bad to better, market research shows changes in the sales at various types of restaurants. Projected 2011 sales at quick-service restaurants are $164.8 billion, which was 3% better than in 2010. Projected 2011 sales at full-service restaurants are $184.2 billion, which was 1.2% better than in 2010. How will the dollar growth in quick-service restaurants sales compared to the dollar growth for full-service places? - It will be greater by $19.4 billion You are starting a restaurant in a college town. A survey of 100 potential customers indicates the following preferences for nights to eat out? What is the fewest number of nights you would need to be open to satisfy 80% of these potential customers? Monday: 5, Tuesday: 8, Wednesday: 12, Thursday: 16, Friday: 22, Saturday: 28, Sunday: 9 - 5 days You collect 96 customer comment cards, 21 online surveys, and 43 surveys from people passing in front of your restaurant. What is your total sample size and what percent of your sample answered on customer comment cards? - 160 sample size, 60% on comment cards You get a survey from your Chamber of Commerce. It says that 24% of businesspeople eat out at least once a week and 18% of families eat out once a week. Within your town, there are approximately 1400 business people and 9600 families. Which market segment appears bigger? - Families Your survey indicates the following favorite beverage choices: 20 milk, 13 water, 22 soda, 32 coffee. What percentage of customers can you satisfy if you just serve milk or water? - 38% Chefs of the American Culinary Institute predict that the newest market concepts will be places offering cooking classes or demonstrations (18% of those surveyed), restaurants with gardens (33%), street food and mobile food trucks (15%), and restaurants on farms (18%). Which trend was the most predicted, by about a third of the 1,854 chefs? - Restaurants with gardens A survey by the National Restaurant Association found that 70% of consumers say that they are more likely to visit restaurants that offer locally produced food. If the city has a metropolitan population of 1,773,120, how many might prefer a restaurant with locally produced food? - 1,241,184 You do an extensive survey and learn that 15 out of the 200 people surveyed like to eat out on Tuesdays. You then look only at the 60 families answering survey and find that 10 prefer to eat out on Tuesdays. Are families for or less likely to eat out on Tuesday than the general population? - More likely Market researchers often compute the "mean" or average of data collected. What is the mean income of the following three people surveyed? Person A: $34,000, Person B: $44,000, Person C: $21,000 - $33,000 Real estate taxes for commercial property in your town are $11 per $1,000 assessed value. You plan on buying a rundown property for $200,000 and putting in $300,000 in improvements. Which of the following is the best estimate of your yearly real estate taxes? - $5,500