### Allegiant Airlines Overbooking Policy AnalysisAllegiant Airlines is considering an overbooking policy for one of its flights. The airplane has 50 seats, but Allegiant is considering accepting more reservations than seats because sometimes passengers do not show up for their flights, resulting in empty seats. The PassengerAppearance worksheet in the file "Overbooking" contains data on 1,000 passengers showing whether or not they showed up for their respective flights.#### Field ExperimentTo gauge the demand for reservations, Allegiant conducted a field experiment without limiting the number of reservations for the flight to observe the uncensored demand. The following table summarizes the result of the field experiment:| No. of Reservations Demanded | Probability ||------------------------------|-------------|| 48 | 0.05 || 49 | 0.05 || 50 | 0.15 || 51 | 0.30 || 52 | 0.25 || 53 | 0.10 || 54 | 0.10 |Allegiant receives a marginal profit of $100 for each passenger who books a reservation, regardless of whether they show up. However, Allegiant incurs a rebooking cost of $300 for each passenger who books a reservation but is denied seating due to a full airplane. This cost is due to rescheduling the passenger and any potential loss of goodwill.#### Setting Reservation LimitsTo control its rebooking costs, Allegiant wants to set a limit on the number of reservations it will accept. The following table evaluates Allegiant’s average net profit for reservation limits of 50, 52, and 54, respectively. Round your answers to the nearest dollar amount.| Reservation Limit | Average Net Profit ||-------------------|--------------------|| 50 | || 52 | || 54 | |#### RecommendationBased on the 95% confidence intervals for the average net profit, which reservation limit do you recommend? Round your answers to the nearest whole dollar.We are 95% confident that Allegiant Airlines can achieve a net profit between $__________ and $__________ by limiting the number of reservations to ________.

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A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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The table below gives the percent of U.S. seniors (aged 65+ years) who used the internet in selected years. Year 2012 2014 2016 2018 2019 % of U.S. seniors using internet 54 57 64 66 73 Use a line of best-fit to predict the percent of U.S. seniors who will use the internet in the year 2022. A. 74 % B.76 % C.77 % D.79 % E.81 %
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e A researcher with the Department of Education followed a cohort of students who graduated from high school in a certain year, monitoring the progress the students made toward completing a bachelor's degree. One aspect of his research vas to determine whether students who first attended community college took longer to attain a bachelor's degree than those who immediately attended and remained at a 4-year institution. The data in the table attached below summarize the esults of his study. Complete parts a) through e) below. E Click the icon to view the sample data. OA. The samples are independent. O B. The samples can be reasonably assumed to be random. OC. The population is given to be normally distributed. OD. The sample sizes are large (both greater than or equal to 30). O E. The sample sizes are not more than 5% of the population. :) Does the evidence suggest that community college transfer students take longer to attain a bachelor's degree? Use an a= 0.10 level of significance.…
Suppose that a customer is purchasing a car. He conducts an experiment in which he puts 10 gallons of gas in the car and drives it until it runs out of gas. He conducts this experiment 15 times on each car and records the number of miles driven. Full data set Car 1 216 243 205 242 239 297 295 172 270 251 165 310 265 316 278 Car 2 231 220 223 205 245 257 242 292 248 252 287 255 250 293 251 Median for Car 2 M=___________mi / 10 gal (Type an integer or decimal rounded to one decimal place as needed.) Range for Car 1 R=__________mi / 10 gal (Type an integer or decimal rounded to one decimal place as needed.) Range for Car 2 R=__________mi / 10 gal (Type an integer or decimal rounded to one decimal place as needed.) Sample standard deviation for Car 1 s=_________mi / 10 gal (Type an integer or decimal rounded to one decimal place as needed.) Sample standard deviation…
. Honesty Coffee stations in offices often just ask usersto leave money in a tray to pay for their coffee, butmany people cheat. Researchers at Newcastle Universityalternately taped two posters over the coffee station.During one week, it was a picture of flowers; during theother, it was a pair of staring eyes. They found that theaverage contribution was significantly higher when theeyes poster was up than when the flowers were there.Apparently, the mere feeling of being watched—even byeyes that were not real—was enough to encourage peopleto behave more honestly. [NY Times, Dec. 10, 2006]
The values listed below are waiting times (in minutes) of customers at two different banks. At Bank A, customers enter a single waiting line that feeds three teller windows. At Bank B, customers may enter any one of three different lines that have formed at three teller windows. Answer the following questions. Bank A 6.3 4.3 6.6 7.0 7.0 Bank B 5.4 5.8 6.1 6.8 78 8.5 10.0 A Click the icon to view the table of Chi-Square critical values. Construct a 95% confidence interval for the population standard deviation a at Bank A O min
answers only. Which of the following study is Inferential Statistics? a. 35% of the Enrolled Students in Maharlika University are Solo Parents. b. The market researcher of a manufacturing company constructs a graph showing the fluctuations in sales for a major product line during the past two years. c. The guard on duty recorded the students who came in with above 37.5 body temperature d. The manager of a department store records the number of buying customers daily for 7 consecutive weeks and then estimates the average number of buying customers for the following weeks. 2. What is the sample size of a certain study if the population size is 1,000,000 and 10% margin of error are expected? a.400 c,200 b.300 d.100 3.Which of the following examples is secondary data? a.Direct Interview c.journals b.Indirect or Questionnaire d.Observation
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Which of the following data are measured at interval level? a. The ranking of all lecturers in your course after they have been designated as excellent, good, satisfactory, and poor b. The classification of a lecturer as excellent, good, satisfactory, or poor c. Last week's average temperature in degrees Celsius d. The number of bottles of milk a family drinks in a month e. The time required to test each vaccine in a laboratory
e $ 4 3. A survey of autos parked in student and staff lots at a large university classified the brands by country of origin as seen in the table. Student Staff American European Asian 107 33 55 5 105 a. What's the marginal distribution of Origin? 12 b. What's the conditional distribution of Origin for the students' cars? 47 c. What's the conditional distribution of Origin for the cars driven by the staff? A d. Do you think the origin of the car is independent of the type of driver? Explain. (use a side-by-side bar chart to help explain) 6 y & 7 u 8 9

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