Airline companies recognize that empty seats represent lostrevenues that can never be recovered. To avoid losingrevenues, the companies often book more passengers thanthere are seats. Then, when a flight experiences fewer no-shows than expected, some passengers are "bumped" fromtheir flights (are denied boarding). Incentives are provided toencourage passengers to give up their reserved seatvoluntarily, but occasionally some passengers areinvoluntarily bumped from the flight. Obviously, theseincidents can reflect poorly on customer satisfaction.Suppose Southwest Airlines would like to estimate the trueproportion of involuntarily bumped passengers across alldomestic flights in the industry. In a pilot sample of 55domestic passengers, 5 were involuntarily bumped from theirflights. Determine the sample size needed to construct a98% confidence interval with a margin of error no more than5% to estimate the true proportion of involuntarily bumpedpassengers. Which of the following is the needed samplesize?O 5505100180

From the provided information, In a pilot sample 55 domestic passengers, 5 were involuntarily bumped…

Answered: Airline companies recognize that empty…

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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There are several risks and costs associated with the airline's decision to overbook flights. If too many passengers show up, the airline may need to offer incentives for customers to give up their seats, which can be costly. If too few passengers show up, the airline may be forced to fly with empty seats, resulting in lost revenue. Furthermore, overbooking can lead to negative publicity and damage to the airline's reputation if too many customers are bumped from their flights. In terms of strategy, the airline must weigh the potential benefits of overbooking (maximizing revenue by filling as many seats as possible) against the potential risks and costs. The airline may also consider adjusting its overbooking policy based on factors such as the route, time of day, and historical data on no-show rates for specific flights. Overall, effective demand forecasting and capacity planning are crucial for the airline to optimize its operations and profitability while minimizing negative…
Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good barometer of the overall stock market. On January 31, 2006, 9 of the 30 stocks making up the DJIA increased in price (The Wall Street Journal, February 1, 2006). On the basis of this fact, a financial analyst claims we can assume that 30% of the stocks traded on the New York Stock Exchange (NYSE) went up the same day.A sample of 61 stocks traded on the NYSE that day showed that 30 went up.You are conducting a study to see if the proportion of stocks that went up is is significantly more than 0.3. You use a significance level of α=0.001α=0.001.What is the test statistic for this sample? (Report answer accurate to three decimal places.)test statistic = What is the p-value for this sample? (Report answer accurate to four decimal places.)p-value = The p-value is... less than (or equal to) αα greater than αα This test statistic leads to a decision to... reject the null accept the null…
Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good barometer of the overall stock market. On January 31, 2006, 9 of the 30 stocks making up the DJIA increased in price (The Wall Street Journal, February 1, 2006). On the basis of this fact, a financial analyst claims we can assume that 30% of the stocks traded on the New York Stock Exchange (NYSE) went up the same day. A sample of 51 stocks traded on the NYSE that day showed that 22 went up. You are conducting a study to see if the proportion of stocks that went up is significantly more than 0.3. You use a significance level of a =0.05. = What is the test statistic for this sample? (Report answer accurate to three decimal places.) test statistic = What is the p-value for this sample? (Report answer accurate to four decimal places.) p-value = The p-value is... O less than (or equal to) a O greater than a This test statistic leads to a decision to... O reject the null O accept the null O…
Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good barometer of the overall stock market. On January 31, 2017, 9 of the 30 stocks making up the DJIA increased in price. On the basis of this fact, a financial analyst claims we can assume that 55% of the stocks traded on the New York Stock Exchange (NYSE) went up the same day. A sample of 79 stocks traded on the NYSE that day showed that 48 went up. You are conducting a study to see if the proportion of stocks that went up is significantly different from 55%. You use a significance level of a = 0.025. 1. For this study, we should use Select an answer 2. The null and alternative hypotheses would be: Ho:? v Select an answer v (please enter a decimal) Hi:? vSelect an answer v (Please enter a decimal) 3. The test statistic (please show your answer to 3 decimal places.) 4. The p-value = (Please show your answer to 4 decimal places.) 5. The p-value is ? va 6. Based on this, we should Select an…
Anita's, a fast-food chain specializing in hot dogs and garlic fries, keeps track of the proportion of its customers who decide to eat in the restaurant (as opposed to ordering the food "to go"), so it can make decisions regarding the possible construction of in-store play areas, the attendance of its mascot Sammy at the franchise locations, and so on. Anita's reports that 45% of its customers order their food to go. If this proportion is correct, what is the probability that, in a random sample of 5 customers at Anita's, exactly 3 order their food to go?
Part 1: The state of Maryland's arrest rate for marijuana possession in 2010 was the fourth highest in the nation. Public records for that year show that police arrested one out of every 250 Maryland residents for possession of marijuana. In addition, while Black people only comprised 30% of the State's population in 2010, 58% of those arrested for marijuana possession were Black. Use the following labels for events describing Maryland residents in the year 2010. M-AMP: Maryland resident was arrested for marijuana possession M-B: Maryland resident was a Black person a) What is the probability that a Maryland resident was arrested for marijuana possession in 2010? b) Use probability notation to express the cited percent values. 30% = P( 58% = P( c) Which of the values cited should be compared to determine whether race and arrests for marijuana possession in the state of Maryland in 2010 are independent?
Having a brother increases one's monthly earnings by $200." Why is this an example of an incomplete causal statement?
Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good barometer of the overall stock market. On January 31, 2017, 9 of the 30 stocks making up the DJIA increased in price.On the basis of this fact, a financial analyst claims we can assume that 54% of the stocks traded on the New York Stock Exchange (NYSE) went up the same day. A sample of 74 stocks traded on the NYSE that day showed that 35 went up. You are conducting a study to see if the proportion of stocks that went up is significantly smaller than 54%. You use a significance level of α=0.05α=0.05. how to you come up with the test statistic and p value using excel
Psychologists Erik Erikson suggested that individuals go through eight developmental stages of life. Erikson believed that at stage 8 (age 65 to death), an adult's fear of death can be predicted by the satisfaction they feel when reflecting back on their lives. To investigate, a psychiatrist interviewed a random sample of adults age 65 and older, and scored them on their satisfaction with their lives and their fear of death. The psychiatrist wants to confirm Erikson's theory. What can be concluded with a = 0.01? fear of death satisfied 4 3 4 2 2 10 3 2 4 7 3 4 8. 4 a) Select and compute the appropriate statistic. ---Select--- b) Input the appropriate value(s) to make a decision about Ho. p-value X ; Decision: Fail to reject H0 v c) Using the SPSS results, compute the corresponding effect size(s) and indicate magnitude(s). If not appropriate, input and/or select "na" below.. Effect Size = 0.266 ; Magnitude: na d) Make an interpretation based on the results. More life satisfaction…
Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good barometer of the overall stock market. On January 31, 2006, 9 of the 30 stocks making up the DJIA increased in price (The Wall Street Journal, February 1, 2006). On the basis of this fact, a financial analyst claims we can assume that 30% of the stocks traded on the New York Stock Exchange (NYSE) went up the same day. A sample of 72 stocks traded on the NYSE that day showed that 24 went up. You are conducting a study to see if the proportion of stocks that went up is significantly more than 0.3. You use a significance level of a = 0.10. What is the test statistic for this sample? (Report answer accurate to three decimal places.) test statistic = What is the p-value for this sample? (Report answer accurate to four decimal places.) p-value = The p-value is... less than (or equal to) a greater than a This test statistic leads to a decision to... O reject the null accept the null O fail to…
To increase the response rate to mail questionnaires, researchers sometimes give monetary incentives as a reward to respondents for their cooperation. Could there be situations where a relatively large reward — e.g., rewarding the respondent with $30 for answering 10 short questionnaire questions — might end up resulting in biased answers from the respondents? If so, give a real or hypothetical example of such an occasion.
Three businesswomen are trying to convene in Cincinnati for a business meeting. The first women (Woman 1) is arriving on a flight from Atlanta, the second (Woman 2) is arriving on a flight from Dallas, and the third (Woman 3) is arriving on a flight from Chicago. Historical data suggests that the Atlanta flight is “on time” 90% of the time, the Dallas flight is “on time” 95% of the time, and the Chicago flight is “on time” 80% of the time. Furthermore, historical data suggests that the three flights are independent with respect to on time behavior. Define the sample space for this random experiment. Compute the probability for each of the outcomes in the sample space. Let W denote the number of business women that arrive on time. Construct the probability mass function of W Construct the cumulative distribution function of W Find the expected value of W Compute the standard deviation of W

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