Question

What are 3 types of statistical analysis or tools that could be used in the task of a major hotel chain to offer an incentative program. And how it be used in this situation?

Answer 1

Answer on Question #53140 – Math – Statistics and Probability

What are 3 types of statistical analysis or tools that could be used in the task of a major hotel chain to offer an incentive program. And how it be used in this situation?

Solution

1. We can use regression analysis to track historical results of incentive programs and forecast future.

2. We can use time trends to show how programs change depending on the season.

3. We can use clustering to show how programs differ from type of customer or from type of program.

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