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: 25-9. Mr. Y quite often flies from town A to town B. He can use the airport bus which costs Rs. 13 but if he takes it, there is a 0-08 chance that he will miss the flight. A hotel limousine costs Rs. 27 with a 0-96 chance of being on time for the flight. For Rs. 50 he can use a taxi which will make 99 of 100 flights. If Mr. Y catches the plane on time, he will conclude a business transaction which will produce a profit of Rs. 1,000, otherwise he will lose it. Which mode of transportation should Mr. Y use ? Answer on the basis of EMV criterion.

: 25-9. Mr. Y quite often flies from town A to town B. He can use the airport bus which costs Rs. 13 but if he takes it, there is a 0-08 chance that he will miss the flight. A hotel limousine costs Rs. 27 with a 0-96 chance of being on time for the flight. For Rs. 50 he can use a taxi which will make 99 of 100 flights. If Mr. Y catches the plane on time, he will conclude a business transaction which will produce a profit of Rs. 1,000, otherwise he will lose it. Which mode of transportation should Mr. Y use ? Answer on the basis of EMV criterion.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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kon, : 25.9. Mr. Y quite often flies from town A to town B. He can use the airport bus which costs he takes it, there is a 0·08 chance that he will miss the flight. A hotel limousine costs Rs. 27 with a 0-96 chance of being on time for the flight. For Rs. 50 he can use a taxi which will make 99 of 100 flights. If Mr. Y catches the plane on time, he will conclude a business transaction which will produce a profit of Rs. 1,000, otherwise he will lose it. Which mode of transportation should Mr. Y use ? Answer on Rs. 13 but the basis of EMV criterion.
Transcribed Image Text:kon, : 25.9. Mr. Y quite often flies from town A to town B. He can use the airport bus which costs he takes it, there is a 0·08 chance that he will miss the flight. A hotel limousine costs Rs. 27 with a 0-96 chance of being on time for the flight. For Rs. 50 he can use a taxi which will make 99 of 100 flights. If Mr. Y catches the plane on time, he will conclude a business transaction which will produce a profit of Rs. 1,000, otherwise he will lose it. Which mode of transportation should Mr. Y use ? Answer on Rs. 13 but the basis of EMV criterion.
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