6. An automobile dealer leases four types of vehicles: four-door sedans, sports cars, minivans,and sport utility vehicles. The term of the lease is 2 years. At the end of the term, customers mustrenoegotiate the lease and choose a new vehicle. Suppose that 80% of customers lease a vehicle ofthe same type at the end of each lease. However 10% of four-door sedan customers switch to sportscars, and 10% of sports car customers switch to four-door sedans. Similarly 10% of sport utilityvehicle customers switch to minivans, while 10% of minivans customers switch to sports utilityvehicles. The rest of the customers are 5% likely to switch vehicles as well. That means5% of four-door sedan customers will switch to either a sports utility vehicle or a minivan5% of sports car customers will switch to either a sports utility vehicle or a minivan5% of minivan customers will switch to either a four-door sedan or a sports car, and• 5% of sports utility vehicle customers will switch to either a four-door sedan or a sports car.

To represent the switching patterns of customers at the end of each lease term for the four types of…

Answered: 6. An automobile dealer leases four…

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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Urgent Care is organized in to 4 department: Registration (Reg), Waiting (Wait), Treatment (Treat), and Payment & Check Out (PCO). For all patients who receive treatment at the Urgent Care, the expected time (in minutes) per patient needed in each of the departments: Reg. Wait. Treatment PCO 10 15 30 3 or 2 All patients enter and register at the registration cubicle. After registering, 10% of the patients walk out without waiting and seeing the physician for treatment. However, still they have to walk through the PCO & return the admissions slip. These patients need only 2 min at PCO (instead of 3 min). No waiting and treatment time for patients who walk out. Simulate the total time spent in the Urgent care for the first patient. Total time spent by Patient 1 at the Urgent Care is . RN: 0.05 Hint: Need to check (simulate) whether a patient, after registering( 10 min), walks out or not. O 2 min O 12 min O 10 min O None of these
High school seniors with strong academic records apply to the nation's most selective colleges in greater numbers each year. Because the number of slots remains relatively stable, some colleges reject more early applicants. Suppose that for a recent admissions class, an Ivy League college received 2,852 applications for early admission. Of this group, it admitted 1,032 students early, rejected 857 outright, and deferred 963 to the regular admission pool for further consideration. In the past, this school has admitted 18% of the deferred early admission applicants during the regular admission process. Counting the students admitted early and the students admitted during the regular admission process, the total class size was 2,377. Let E, R, and D represent the events that a student who applies for early admission is admitted early, rejected outright, or deferred to the regular admissions pool. (a) Use the data to estimate P(E), P(R), and P(D). (Round your answers to four decimal…
ABC enters into a contract to help DEF, a ramen restaurantto design a market strategy to compete with DEF. The contract spans twelve month. DEF will pay P80,000 at the beginning of each month. At the end of the contract, ABC either will give DEF a refund of P25,000 or will be entitled to an additional P15,000 bonus, depending on whether sales at DEF at year- end increased to a target level. At the inception of the contract , ABC estimates a 30% chance that it will not earn the bonus and calculates the contract price based on the expected value of future payments to be received. At the start of the fifth month, circumstances change and ABC revise the probability that it will earn the bonus to 80% What is the adjustment to the service revenue ?

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