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Travel method cost - Case Study Example

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TCM is an operational technique employed by established business organizations to make an approximation of all the non-market…
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Travel method cost
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Download file to see previous pages A small section of the analysis dwells on certain suggestions that are likely to bring improvements, especially in the above-identified areas. There are certain variables that significantly determine the achievement of the project’s desired results. Such factors include the entrance fee, entrance fee income, the potential trips to be registered annually, trips to be lost annually. Such variables are analyzed and their respective contributions to the success of the TCM (Parsons 300). In general, the analysis evaluates the Travel Cost Method as technique of providing recreational value of Yeulu Mountain Park. The goal is to provide important data for stating a better entrance fee.
The population under target in the analysis is Yeulu Mountain Park visitors. The visitors are very many to incorporate in the study. A representative sample is therefore considered. As discussed above, there are two groups of visitors in the park, the foreign (non-local) visitors and the native (local) visitors. In the questionnaire used being considered for the analysis, 200 respondents were chosen to make the represent the views of the entire population if visitors. Each in the sample represented unit for analysis in the structured questionnaire. The sampling technique used in the analysis is stratified random sampling. It involves sampling every subpopulation separately to increase the estimation accuracy. The data used in the analysis was collected from Yeulu Mountain, Changsha city of China, in July 2007. Direct interviews were the collection method used. It assisted in improving accuracy as no data was left out of the questionnaire. It helped to ensure that the data used in the case analysis was complete.
From experience, it has been confirmed that the entrance fee income obtained is dependent on the set entrance fee. The entrance fee income can be maximized by the amount of the fee placed on, by the National Park’s management. The demand function of the Park’s travel ...Download file to see next pagesRead More
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