Return to Previous Page

Estimating the Inflow of Visitors at ‘The Resort’

CASELET, STATISTICS FOR MANAGEMENT
ET Cases, 2 pages

Case Preview

Estimating the Inflow of Visitors at ‘The Resort’

 

The Resort, a growing multi-theme park based in Hyderabad, India, owned and managed by Krishna Kumar Rao (Rao) came into the business in 2010. Within 3 years of its inception the park became a well-known name among its contemporaries. The resort attracted visitors with a plethora of entertaining sports like – Alpine Slide, Bumper Cars, Carousel, Cliffhanger, Black Hole, Madhouse, Snowboarding, Double Shot, Freefall, Space Shot, Turbo Drop, Ferris Wheel, Flying Scooters, Gyro Tower, Helter Skelter, Hurricane, Loop-O-Plane, Octopus, Orbiter, Paratrooper, Pendulum Rides, Looping Starship, Pirate Ship, Screamin' Swing, Speed Swing Boat, Topple Tower, Power Surge, Rainbow, Reverse Bungee, Rock-OPlane, etc. The Resort also provided accommodation for the visitors. However, the revenue of The Resort was purely dependent upon the entertainment it provided..................

Teaching Note Preview

Estimating the Inflow of Visitors at ‘The Resort’

 

Prerequisite Conceptual Understanding

Prerequisite Conceptual Understanding (PCU) material is the background material that would aid immensely in mapping the decision areas of this caselet and bring a synthesis amongst the relevant concepts. The participants/students should be encouraged to read this material to benefit from the broader perspectives outlined in the caselet.

  • • Richard I. Levin and David S. Rubin, “Chapter 7: Estimation”, Statistics for Management, 7th Edition, Pearson Education, 2008

 

Synopsis

The caselet provides scope for understanding the concept of Point and Interval Estimates. The Resort, a growing multi-theme park based in Hyderabad, India, came into business in 2010. Within 3 years of its inception the park became a well-known name among its contemporaries. The Founder-CEO, of The Resort, wanted to plan the entertainment themes effectively, but was facing difficulties as the company’s sales had not been uniform. To plan for the season he needed to estimate the number of visitor registrations on a given day. The caselet enables an insight into the concepts of point estimate and interval estimate as well as drawing inferences through the estimates.

Pedagogical Objectives

  • • To discuss the concepts of point estimate and interval estimate
  • • To understand the concepts of sample size and confidence interval
  • • To know how to draw inferences through the estimates

 

Assignment Question

  • I. Estimate range of the number of visitors’ registration at The Resort for a given day.

 

Teaching Plan

The Teaching Note follows a defined Teaching Plan [Annexure (TN) -I], which guides in conducting the classroom discussion..........

$3.66
Rs 0
Product code: STFM-2-0013, STFM-2-0013A

Abstract


The caselet provides scope for understanding the concept of Point and Interval Estimates. The Resort, a growing multi-theme park based in Hyderabad, India, came into business in 2010. Within 3 years of its inception the park became a well-known name among its contemporaries. The Founder-CEO, of The Resort, wanted to plan the entertainment themes effectively, but he was facing difficulties as the company's sales had not been uniform. To plan for The Resort he needed to estimate the number of visitor registrations on a given day. The caselet enables an insight into the concepts of point estimate and interval estimate as well as drawing inferences through the estimators.



Pedagogical Objectives

  • To discuss the concepts of point estimate and interval estimate
  • To understand the concepts of Sample size and confidence interval
  • To know how to draw inferences through the estimators.



This Case Pack Includes:
 - Abstract
- Caselet
- Teaching Note (**ONLY for Academicians)
$3.66
Rs 0

Related products




Request for an Inspection Copy

(Strictly for Review Purpose, Not to be Used for Classroom Discussion/Trainings)