Table 2. Estimated I 2 (S, D, Y), the...

Table 2.

Estimated I₂ (S, D, Y), the mean difference of estimated hotel prices in the Beer and Cider Festival week relative to the intermediate week, in 2016 and 2017

	2*		3*		4*
Day week	2017	2016	2017	2016	2017	2016
Wednesday	6.32^a (0.36)	7.84^a (0.33)	8.38^a (0.40)	2.83^a (0.41)	40.74^a (0.56)	9.29^a (0.43)
Thursday	7.59^a (0.43)	3.39^a (0.40)	−4.38^a (0.39)	9.27^a (0.34)	−0.14 (0.37)	18.39^a (0.45)
Friday	23.75^a (0.16)	1.86^a (0.34)	46.33^a (0.38)	4.49^a (0.34)	47.46^a (0.21)	2.85^a (0.33)
Saturday	26.30^a (0.71)	−13.71^a (0.59)	29.37^a (0.35)	−15.55^a (0.30)	25.24^a (0.27)	−16.43^a (0.43)
Sunday	−1.42^a (0.35)	−2.14^a (0.38)	−2.87^a (0.32)	−4.47^a (0.37)	−10.85^a (0.34)	−16.99^a (0.36)
R²	0.94
N	9,391
No. of hotels	2		5		7
Room capacity	155		710		750

	2*		3*		4*
Day week	2017	2016	2017	2016	2017	2016
Wednesday	6.32^a (0.36)	7.84^a (0.33)	8.38^a (0.40)	2.83^a (0.41)	40.74^a (0.56)	9.29^a (0.43)
Thursday	7.59^a (0.43)	3.39^a (0.40)	−4.38^a (0.39)	9.27^a (0.34)	−0.14 (0.37)	18.39^a (0.45)
Friday	23.75^a (0.16)	1.86^a (0.34)	46.33^a (0.38)	4.49^a (0.34)	47.46^a (0.21)	2.85^a (0.33)
Saturday	26.30^a (0.71)	−13.71^a (0.59)	29.37^a (0.35)	−15.55^a (0.30)	25.24^a (0.27)	−16.43^a (0.43)
Sunday	−1.42^a (0.35)	−2.14^a (0.38)	−2.87^a (0.32)	−4.47^a (0.37)	−10.85^a (0.34)	−16.99^a (0.36)
R²	0.94
N	9,391
No. of hotels	2		5		7
Room capacity	155		710		750

Notes:

Robust standard errors are in parenthesis; ^a and ^b statistically significant at the 1% and 5% level, respectively

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