13. Jim Johnson operates a bus service to take college students to "The Big City" on Friday night andbring them back to school on Sunday night. The bus has 45 seats, but sometimes there are empty seats.His records show that about 5% of ticket holders do not show up for rides. Tickets cost $20 and are non-refundable. If Jim overbooks the bus and more than 45 passengers show up, some of them will bebumped and miss the trip. This bumping costs the company $40 because Jim has a double-your-money-back policy for bumped passengers. Jim wants to see what happens to profits if 48 reservations areaccepted.134567891011121314ABJim's Big City BusReservation SystemSeats AvailableTicket Price per SeatProb. of No-ShowCost of BumpingReservations AcceptedPassengers to BoardTicket RevenueCost of Bumping PassengersMarginal Profitс45$200.05$4048????To run this simulation, you are using Excel.a) What formulas should go in cell C10 of the worksheet?b) What formulas should go in cell C12 of the worksheet?c) What formulas should go in cell C13 of the worksheet?d) What formulas should go in cell C14 of the worksheet?

To answer Jim's question about the bus reservation system, we need to calculate the expected number…

Answered: 13. Jim Johnson operates a bus service…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Mr Hail, Miss rain and Mrs Snow all apply for a job as a park keeper. Whichever one gets the job will have to open the gates of the park at 5.30 am. If Mr Hail gets the job, he will only open the gates on time 50% of the time. If Miss rain gets the job she will only open the gates on time 40% of the time. If Mrs Snow gets the job she will always open the gates on time. Assume that Mr hail has a 40 % chance of getting the job, and that Miss rain and Miss Snow each have a 30 % chance of getting the job. What is the probability that the parks gates will be opened on time ? Question 39Select one: a. 0.6200 b. 0.3500 c. 0.2000 d. 0.3200 Refer to the question above. Using the same data, if the gates are opened on time, what is the probability that Mrs Snow got the job? Question 40Select one: a. 0.0857 b. 0.3429 c. 0.4839 d. 0.5061
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