Mr. Y quite often flies om town A to lown B. Hecan use the airport bus which costs Dollar. 13but if he takes it, there is a 0.08 chance that hewill miss the flight. A hotel limousine costsDollar 27 with a 0.96 chance of being on timefor the flight. For Dollar 50 he can use a taxiwhich will make 99 of 100 flights. If Mr. Ycatches the plane on time, he will conclude abusiness transaction which will produce aprofit of Dollar 1,000, otherwise he will lose it.Which mode of transportation should Mr. Yuse? Answer on the basis of EMV criterion.

Answered: Image /qna-images/answer/78271d77-d0e9-49e0-9c02-14626ffb1400.jpg

Answered: Mr. Y quite often flies om town A to…

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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Peggy is the revenue manager at a 1500-room hotel. For next Friday Peggy's PMS shows 320 check-outs, 700 stayovers, 300 transient arrivals and a 200-room group block that begins a three-day stay on that day. What is Peggy's current rooms available for sale for next Friday?
MAKE SURE YOU SELECT 2 ANSWERS FOR THIS QUESTION - Type of test and hypothesis. Professor Ratzo wonders if rats will run a maze faster for some kinds of foods than for others. He randomly assigns 30 rats to one of three conditions, 10 rats to each condition. Group 1 gets buttered bread at the end of the maze, Group 2 gets cheddar cheese, and Group 3 gets honey- glazed ham. The number of seconds each rat took to run the maze is recorded. The hypothesis is that type of food makes a difference in rat running time. Choose the type of test you should use to test this hypothesis? Then choose the correct hypotheses in symbol notation (or words if symbol is not appropriate). Z-test O single sample t-test dependent t-test independent t-test Pearson correlation t-test ANOVA Chi-Square Goodness of Fit Test O Chi-Square Test of Independence O Ho: µ1 - P2 = 0 H1: P1 - P2 # 0 O Ho: H1 - P2 <0
Mr Hail, Miss rain and Mrs Snow all apply for a job as a park keeper. Whichever one gets the job will have to open the gates of the park at 5.30 am. If Mr Hail gets the job, he will only open the gates on time 50% of the time. If Miss rain gets the job she will only open the gates on time 40% of the time. If Mrs Snow gets the job she will always open the gates on time. Assume that Mr hail has a 40 % chance of getting the job, and that Miss rain and Miss Snow each have a 30 % chance of getting the job. What is the probability that the parks gates will be opened on time ? Question 39Select one: a. 0.6200 b. 0.3500 c. 0.2000 d. 0.3200 Refer to the question above. Using the same data, if the gates are opened on time, what is the probability that Mrs Snow got the job? Question 40Select one: a. 0.0857 b. 0.3429 c. 0.4839 d. 0.5061
A shoe company wants to determine if the new tread on its top line of running shoes lasts longer than the original tread. The company recruits 50 runners for a study. Each runner will perform their typical workout wearing one shoe with the original tread on one foot and another shoe with the new tread on the other foot. The foot that wears the new type of tread will be decided by flipping a coin. After one month, the runner will wear the new type of tread on the opposite foot. At the end of the second month, the difference in tread wear (New - Original) will be calculated. What type of sampling is described in this study? What is the appropriate inference procedure? one-sample t-test for μ one-sample z-test for p one-sample t-test for diff two-sample t-test for new original
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Johns friends give him a chance to choose an envelope out of three exactly same envelopes. John cannot see what's inside envelopes but he knows that one envelope contains a concert ticket and the other two contain postage stamps. After choosing the envelope but before opening it, John's friends open one of the other two envelopes revealing a postage stamp. Then, the friends give John an option to trade his box with the other unopened box. Should John swtich?
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The past records of a supermarket show that its customers spend an average of $110 per visit at this store. Recently the management of the store initiated a promotional campaign according to which each customer receives points based on the total money spent at the store, and these points can be used to buy products at the store. The management expects that as a result of this campaign, the customers should be encouraged to spend more money at the store. To check whether this is true, the manager of the store took a sample of 14 customers who visited the store. The following data give the money (in dollars) spent by these customers at this supermarket during their visits. 106.13 107.43 124.68 124.88 101.17 72.75 85.45 86.05 100.4 98.84 101.63 95.56 89.40 119.52 Assume that the money spent by all customers at this supermarket has a normal distribution. Using a 2.5% significance level, can you conclude that the mean amount of money spent by all customers at this supermarket after the…

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