Table 4. Estimated I 2 (S, D, Y), the... | Emerald Publishing

Table 4.

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

	2*		3*		4*
Day week	2017	2016	2017	2016	2017	2016
Wednesday	3.68^a (0.22)	0.45 (0.48)	−18.52^a (0.31)	−12.50^a (0.42)	−0.53^b (0.20)	1.90^a (0.37)
Thursday	0.66^a (0.18)	1.23^a (0.41)	−1.71^a (0.26)	0.52 (0.37)	−7.03^a (0.23)	−0.60 (0.44)
Friday	0.42 (0.23)	1.07^b (0.48)	1.41^a (0.22)	5.31^a (0.38)	3.58^a (0.30)	4.80^a (0.49)
Saturday	5.39^a (0.05)	−14.16^a (0.49)	11.61^a (0.28)	10.49^a (0.52)	16.03^a (0.23)	14.49^a (0.42)
Sunday	−1.34^a (0.24)	−2.17^a (0.50)	−0.93^a (0.31)	0.01 (0.43)	−6.68^a (0.28)	−2.17^a (0.44)
R²	0.94
N	20,048
No. of hotels	2		5		7
Room capacity	155		710		750

	2*		3*		4*
Day week	2017	2016	2017	2016	2017	2016
Wednesday	3.68^a (0.22)	0.45 (0.48)	−18.52^a (0.31)	−12.50^a (0.42)	−0.53^b (0.20)	1.90^a (0.37)
Thursday	0.66^a (0.18)	1.23^a (0.41)	−1.71^a (0.26)	0.52 (0.37)	−7.03^a (0.23)	−0.60 (0.44)
Friday	0.42 (0.23)	1.07^b (0.48)	1.41^a (0.22)	5.31^a (0.38)	3.58^a (0.30)	4.80^a (0.49)
Saturday	5.39^a (0.05)	−14.16^a (0.49)	11.61^a (0.28)	10.49^a (0.52)	16.03^a (0.23)	14.49^a (0.42)
Sunday	−1.34^a (0.24)	−2.17^a (0.50)	−0.93^a (0.31)	0.01 (0.43)	−6.68^a (0.28)	−2.17^a (0.44)
R²	0.94
N	20,048
No. of hotels	2		5		7
Room capacity	155		710		750