week 13


WEEK 13 
  1. I think Airbnb uses a high/low pricing method. The homes/apartments that are listed on there have a price that can reflect its surroundings and happenings. When there is a big event happening nearby prices seem to go up since demand will be going up. 
  2. It absolutely matters how the reviews are for an Airbnb host. I look at Airbnb’s quite often and I always look at the reviews. For me to actually stay somewhere I need to see many positive reviews. You are staying in someones home who still has access to it so they need to be trustworthy hosts. 
  3. I think the most important attribute would be location. I often go to DC and an Airbnb next to The Capital or National Mall is much more expensive than an apartment outside of town. Even a place next to a public transportation can be more expensive. 
  4. This machine-learning model helped a host pick a reasonable price for their listing by using an algorithm. It considers many attributes and it finds the best price.
    1. Holiday Inn- Economy- They will most likely drop their prices to get people to come stay since the demand for hotels is usually lower in the winter. 
    2. Burger King- Penetration- Burger King is trying to put new products out at a lower price to make customers pick them over competitors. 
    3. Nokia- Premium- The new phone is going to be bigger, better, and more expensive. 
    4. Wal-Mart- Economy- The Walmart brand is going to be cheaper than name brands so the prices will stay down for these soups. 
    5. Cunard- Premium- The new ships are going to be totally up to date and include the newest best things. The price for these are going to be very high most likely. 
    6. Cable- Penetration- They are looking for new customers which will force them to lower prices to beat out competitors. 

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