A student wishes to earn some pocket money during his semester break. He thinks hard and comes upwith the idea of buying early tickets for theater shows and selling them to last-minute customers whocannot find tickets. He can buy early tickets for around 40 TL each. Late customers are usually ready topay 75 TL per ticket. Normally, unsold tickets are of no value, however, the student has good contactswith the ticket office attendant. So, if the student has left over tickets when the show starts, the attendantat the ticket office pays him 20 TL per ticket.Assume, now that the student wants to be more precise in estimating the demand and keeps a record ofdemand on each day. After careful analysis, he identifies that his demand obeys the triangular distributionwith lower limit a, upper limit b and mode c, where a < b and a ≤c≤ b. Identify the optimum number oftickets in terms of a, b and c to buy for this case by assuming your own data sets.

Given a situation wherein, "A student wishes to earn some pocket money during his semester break. He…

Answered: A student wishes to earn some pocket…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

See similar textbooks

Similar questions

About 1/3 of Samuel’s paycheck goes to housing, 1/6 goes to utility bills, 1/8 goes for his car, and 1/5 goes for food. How much of his paycheck is left for entertainment?
If the player knives normally sell for $150 and the prices are now selling at 1/3 less than the normal price, how much do they cost now?
Until now, debit card fees have been 44 cents a transaction, on average. The Federal Reserve in June agreed to cut the fees to a maximum of about 24 cents. While the fee amounts to pennies per swipe, it rapidly adds up across millions of transactions. The new limit is expected to cost the banks about $6.6 billion in revenue a year. What percentage of a $10 debit card transaction does a merchant have to pay to the bank that issued the card? How will that percentage change when the new rule takes effect?
Pam and Jim are saving money for their two children who they plan to send to university. The eldest child will enter university in 5 years while the younger will enter in 7. Each child is expected spend four years at university. University fees are currently R 20 000 per year and are expected to grow at 5% per year. These fees are paid at the beginning of each year. Pam and Jim currently have R40 000 in their savings and their plan is to save a fixed amount each year for the next 5 years. The first deposit taking place at the end of the current year and the last deposit at the date the first university fees are paid.Pam and Jim expect to earn 10% per year on their investments. What amount should they invest each year to meet the cost of their childrens university fees?R
You have recently purchased a new car that costs $25,000. However, for each year that you own it, you can expect the car to lose about $2,000 in value each year (this is the depreciation of the car). Write a formula that will allow you to compute the depreciation after tyears.
The following information is available for Johnston Ltd. Basic pay = £8/hour for a 40-hour week.Normal production in that time = 120 units.Bonus = 50% of the time saved on production and is paid at a time and a quarter.What will be the total wage in a week in which 150 units are made in 40 hours?
Louie, the Loan shark, is willing to lend money to John, the construction contractor, however he wants to quadruple his money in 16 weeks. If Louie loans John $1,300.00, what weekly interest rate must Louie charge to get quadruple his money?
You decide to save slightly less than that and save $600 a month to invest into a retirement account promising an annual return of 4% from when you start working at 24 until you retire at 64 years young. How much will you have in your retirement account when you retire?
Ruby is 25 and has a good job at a biotechnology company. She currently has $11,000 in an IRA, an important part of her retirement nest egg. She believes her IRA will grow at an annual rate of 9 percent, and she plans to leave it untouched until she retires at age 65. Ruby estimates that she will need $875,000 in her total retirement nest egg by the time she is 65 in order to have retirement income of $20,000 a year (she expects that Social Security will pay her an additional $15,000 a year).
Faisal has $11,000 in his savings account and can save an additional $3,300 per year. If interest rates are 12%, how long will it take his savings to grow to $46,000?
I NEED TO KNOW HOW TO BREAK DOWN A SALARY OF 47,840 INTO A MONTHLY INCOME WITH 1/4 OF THE INCOME BEING DEDUCTED FOR VARIOUS TAXES.
Suppose that you have 5000$ in your bank account and each month you withdraw 14% of the money left in the account. How long will it take for there to be 1000$ left in the bank account?

SEE MORE QUESTIONS

Recommended textbooks for you

Advanced Engineering Mathematics

Advanced Math

ISBN:

9780470458365

Author:

Erwin Kreyszig

Publisher:

Wiley, John & Sons, Incorporated

Numerical Methods for Engineers

Advanced Math

ISBN:

9780073397924

Author:

Steven C. Chapra Dr., Raymond P. Canale

Publisher:

McGraw-Hill Education

Introductory Mathematics for Engineering Applicat…

Advanced Math

ISBN:

9781118141809

Author:

Nathan Klingbeil

Publisher:

WILEY

Advanced Engineering Mathematics

Advanced Math

ISBN:

9780470458365

Author:

Erwin Kreyszig

Publisher:

Wiley, John & Sons, Incorporated

Numerical Methods for Engineers

Advanced Math

ISBN:

9780073397924

Author:

Steven C. Chapra Dr., Raymond P. Canale

Publisher:

McGraw-Hill Education

Introductory Mathematics for Engineering Applicat…

Advanced Math

ISBN:

9781118141809

Author:

Nathan Klingbeil

Publisher:

WILEY

Mathematics For Machine Technology

Advanced Math

ISBN:

9781337798310

Author:

Peterson, John.

Publisher:

Cengage Learning,

Basic Technical Mathematics

Advanced Math

ISBN:

9780134437705

Author:

Washington

Publisher:

PEARSON

Topology

Advanced Math

ISBN:

9780134689517

Author:

Munkres, James R.

Publisher:

Pearson,

SEE MORE TEXTBOOKS