Problem 2Consider the Poisson trip generation model:BZ = - 0.75 + 0.03 (household size)+ 0.004 (annual household income in thousands of dollars)+ 0.010 (retail employment in the household's neighborhood in hundreds)Suppose that a household has three members with an annual household income of $150,000 andlies in a neighborhood with a retail employment of 220. What is the expected number of peak-hourshopping trips, and what is the probability that the household will make more than one peak-hourshopping trip?

thank you for asking this question. solution :

Answered: Problem 2 Consider the Poisson trip…

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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Q.4 Explain with all necessary mathematical details as how would you determine the risk-neutral geometric Brownian motion price of an up-and-out European barrier option using the multi- period binomial model?
Question 17 Suppose Carole has a total wealth of $100,000 and a utility described by U = E -A She has a risk aversion coefficient of A-1. She can borrow and lend/invest at the risk-free rate of 2.8%. Suppose the optimal risky portfolio has an expected return of 12% and a standard deviation of 27.5%, What is her optimal amount to borrow or lend/invest at the risk free rate? Indicate investing/lending as a positive number and borrowing as a negative number. Round to the nearest cent ($0.01). Your answer should not include the $ sign. If your answer is $25.34, it should be written as 25.34. Question 18 Ayear ago, an investor bought 200 shares of a "no-load" mutual fund at $10.01 per share. No-load funds do not change "entry fees or "exit" fees when buying or redeeming shares. Sometime during the year, the fund paid dividends of $0.71 per share and the fund paid capital gains of $0.14 per share - and these payments were reinvested in the fund at an average price of $10.73 per share…
QUESTION 6 As the Operation manager at Giant Wholesale, you want to improve the inventory for the finished goods. The company is always having a shortage problem in product A. To analyse this product A inventory, you have collected the data as below: i)Average demand per day = 80 units ii)Working days per year = 300 days iii)Ordering cost = RM40 per order iv)Annual carrying (holding) cost rate = 10% of item cost v)Cost of product A per unit = RM150 vi)Lead time = 5 days vii) Standard deviation of daily demand= 5 units viii) Customer service level = 95% Based on the data given above, answer the following questions: a) Compute EOQ. b) Compute the annual total inventory cost. c) Based on a continuous review system (Q System), determine the optimal order quantity Q, and reorder point (R). d) Based on the periodic review system (P System), determine the period review interval (P) and target inventory level (T).
6. A home improvement store carries two models of power drills. Lifetime (i.e., time to failure) of Model 1 drills are exponentially distributed with a rate of of 0.15 failures per year, whereas Model 2 drills have a lifetime that is log-normally distributed with parameters u = 0.75 and o = 1.2. (a) Which model of power drill is more likely to fail within a year? (b) Which brand produces cables that are more likely to last at least 2 years? (c) Which model of power drill has longer expected lifetime?
Need assistance with question 2 iv, v. I already got help with i, ii, iii
4.
Suppose you believe that population abundance (A) of a particular species is a linear function of vegetation coverage (V) and the presence of a predators (P). Surveys where conducted across 20 sites and found the following information: a) There was an average of cover of .406 (40.6%) of the area, with an average 6.8 predators and 61.55 individuals in our target population. b) ⟨V2⟩=0.231⟨V2⟩=0.231, ⟨P2⟩=76.300⟨P2⟩=76.300, ⟨VP⟩=2.933⟨VP⟩=2.933, ⟨VA⟩=36.329⟨VA⟩=36.329, ⟨PA⟩=379.300⟨PA⟩=379.300 Set up the appropriate system of equations needed for a the linear regression of a model of the form A=aV+bP+cA=aV+bP+c. Then estimate the parameters and report the final model.
6. A small company can employ 3 workers. Each worker independently stays on the job for an exponentially distributed time with a mean of one year and then quits. When a worker quits, it takes the company an exponentially distributed time with a mean of 1/10 of a year to hire a replacement for that worker (independently of how long it takes to replace other workers). If the company takes in $1000 per day in revenue when it has 3 workers, $800 per day when it has 2 workers, and $500 per day when it has 0 or 1 workers, what is the company's long-run average daily revenue?
Question 4 Multi-Server QueueA supermarket manager is trying to decide how many cashers to employ for the peak time. The service times for check outs are exponentially distributed with a mean service time of 3 minutes. Customer arrivals to cashiers follow a Poisson arrival process with an average 110 customers per hour.a. What is the minimum number of cashers that would be needed to have the utilization less than one?b. If the waiting time is too long, customers might leave the store or even do not enter the store. It is estimated that for every minute of waiting time, the supermarket loses a potential profit of 50 HKD every hour from lost sales. The hourly wage for a casher is 80 HKD / hour. How many cashers should the supermarket employ to maximize its profit? (Keep four decimal places.
G FTSE 100 6. Consider the OLS estimator of a model to explain the stock prices of observations from 2012 m1 to 2021 m 12, all variables are calculated company using 120 at the end of the month t log (stock +) 0.86 + 0.86 + 0.54 log (profit 6) - 0.65 log (research t)-1.34 log (marketing 6) (6.1) (1.12) (0.24) (0.30) (0.12) 3 n = 120, R² = 0.34 SSR = 1.29 F = 3.99 : / " 116 where stuck t the › in millions of stock price in GBP (British Sterling) profit & (the profit before tax GBP), research & (expenditure on research and development), and marketing t marketing) are measured in parentheses, SSR is the Sum of Squared Residuals, and the I statistic for the significance GBP. Standard errors are reported in (expenditure on millions of of the regression is $ provided. lat What is the interpretation of the coefficient on as you would expect? Explain your answer. log (profit t) 7 Is the sign of coefficient measured in thousands of GBP? Explain your answer. Hint: Would your interpretation…

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