The Harriet Hotel in downtown Boston has100 rooms that rent for $150 per night. Itcosts the hotel $30 per room in variablecosts (cleaning, bathroom items, etc.) eachnight a room is occupied. For eachreservation accepted, there is a 5% chancethat the guest will not arrive. If the hoteloverbooks, it costs $200 to compensateguests whose reservations cannot behonored. (Use 2,000 trials.)How many reservations should the hotelaccept if it wants to maximize the averagedaily profit?Answer:reservations

Given information:Available number of rooms in hotel = 100Rent of room per night = $150Variable…

Answered: The Harriet Hotel in downtown Boston…

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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It is costly in both time and money to go to college. Does it pay off? According to the Bureau of the Census, the answer is yes. The average annual income (in thousands of dollars) of a household headed by a person with the stated education level is as follows: 24.8 if ninth grade is the highest level achieved, 41.2 for high school graduates, 59.3 for those holding associate degrees, 82.6 for those with bachelor's degrees, 100.3 for those with master's degrees, and 121.7 for those with doctoral degrees. Make a bar graph showing household income for each education level.
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Don is considering bringing a lawsuit against the Dummote Company. His lawyer estimates that there is a 60% chance Don will make $80,000, a 30% chance Don will break even, and a 10% chance they will lose the case and Don will need to pay $30,000 in legal fees. Estimate Don's expected gain or loss if he proceeds with the lawsuit. Select the correct choice below and, if necessary, fill in the answer box within your choice. OA. Don has an expected loss of $ OB. Don has an expected gain of S OC. Don has neither an expected gain nor expected loss. 4
Please find question attached, Thanks!
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $7 each and will sell 600 tickets. There is one $2,000 grand prize, three $400 second prizes, and twelve $10 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $7 each and will sell 600 tickets. There is one $1,000 grand prize, four $ 200-second prizes, and fifteen $40 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $7 each and will sell 700 tickets. There is one $2,000 grand prize, four $400 second prizes, and fourteen $40 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
The test for a certain disease is 86% accurate. A hospital tests a sample of 5000 patients for this disease and the incidence rate of the disease is 12%. Fill in the following table showing the results of this disease testing. Disease No Disease Total Test Positive Test Negative Total A. What percent of these patients tests positive? Round to the nearest 0.1%. C. If a patient tests negative, what is the percent chance they have the disease? Round to the nearest 0.1% D.Suppose you select a patient at random from this sample, what is the probability the patient has the disease or tests positive? Use three significant digits.
If I got 8 out of 12 answers the same as a classmate, is it possible for me to get no answers correct and him to get 75% correct?
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $9 each and will sell 600 tickets. There is one $2,000 grand prize, two $200 second prizes, and twelve $40 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
Greg works as a carpenter. There is a 3 percent chance he loses a finger which they value at $200000. His job makes him $250000. What would the fair premium per $ for Greg to insure against losing his fingers be if his is risk adverse?
Using a random sample of 4000 TV households, a media research company found that 65.8% watched the final episode of a long-running popular series. The margin of error in this percent was 1.6%. In a later study, the same media research company increased its random sample to 5900. By how much did this improve the margin of error? The margin of error improved by %. (Round to the nearest tenth as needed.)

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