Please see the following conversion funnel (see below) from a month of traffic on the website of a major hotel chain Marriott. Answer the following questions:

Please show work so I can see how the calculation is done, thank you!

(1) What is the conversion rate?

(2) Calculate each micro-conversion rate (the conversion rate from one step to the next).

(3) What is the average number of nights per booking?

(4) What is the average revenue per booking?

(5) What is the average revenue per night?

(6) If you could increase traffic by 10%, how much would revenue increase (assuming the new traffic was of the same character as the current traffic, e.g. same conversion rate, same average nights per booking, etc.)? How many more confirmations would result?

(7) If you could increase the percentage of those who reviewed the itinerary from 15.65% to 20%, how would the conversion rate be affected?

How would the revenue be affected?

(8) You believe that if you offered a 10% discount on all bookings, the conversion rate would increase to 3.5%. Would this increase or decrease revenue?

Rates & Availability 2,347,892 Review Itinerary 367,495 Guest Info 103,471 Confirmation 72,498 Revenue: $23,464,220 Room Nights: 143,285