Table 3. Estimated I 2 (S, D, Y), the... | Emerald Publishing

Table 3.

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

	2*		3*		4*
Day week	2017	2016	2017	2016	2017	2016
Wednesday	−1.73^a (0.22)	−2.15^a (0.30)	−15.25^a (0.23)	−22.56^a (0.28)	0.66^b (0.33)	−18.48^a (0.25)
Thursday	−0.66^b (0.32)	−8.21^a (0.26)	−6.54^a (0.17)	−2.10^a (0.26)	−4.16^a (0.22)	−7.10^a (0.29)
Friday	−9.45^a (0.32)	−6.12^a (0.34)	−2.33^a (0.30)	−4.02^a (0.28)	−10.12^a (0.31)	−6.82^a (0.32)
Saturday	−3.68^a (0.66)	−17.21^a (0.32)	0.75^a (0.20)	−1.99^a (0.18)	−18.42^a (0.29)	−14.28^a (0.25)
Sunday	−1.15^a (0.26)	−0.70^a (0.20)	−2.02^a (0.30)	−2.54^a (0.20)	−11.62^a (0.26)	−4.09^a (0.29)
R²	0.95 15,367
No. of obs.	0.95 15,367
No. of hotels	2		5		7
Room capacity	155		710		750

	2*		3*		4*
Day week	2017	2016	2017	2016	2017	2016
Wednesday	−1.73^a (0.22)	−2.15^a (0.30)	−15.25^a (0.23)	−22.56^a (0.28)	0.66^b (0.33)	−18.48^a (0.25)
Thursday	−0.66^b (0.32)	−8.21^a (0.26)	−6.54^a (0.17)	−2.10^a (0.26)	−4.16^a (0.22)	−7.10^a (0.29)
Friday	−9.45^a (0.32)	−6.12^a (0.34)	−2.33^a (0.30)	−4.02^a (0.28)	−10.12^a (0.31)	−6.82^a (0.32)
Saturday	−3.68^a (0.66)	−17.21^a (0.32)	0.75^a (0.20)	−1.99^a (0.18)	−18.42^a (0.29)	−14.28^a (0.25)
Sunday	−1.15^a (0.26)	−0.70^a (0.20)	−2.02^a (0.30)	−2.54^a (0.20)	−11.62^a (0.26)	−4.09^a (0.29)
R²	0.95 15,367
No. of obs.	0.95 15,367
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