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An airline is deciding how many reservations to accept for a new flight from Indianapolis to Chicago. The plane has a capacity of 200 seats. Because only 90 percent of passengers typically show up for this flight, they need to determine how many tickets to sell. The plane has 200 seats available. An empty seat costs the airline $200 per seat. However, if more than 200 passengers show up, those passengers will have to be rebooked on other flights. The cost of rebooking is about $300 per passenger. How many tickets should the airline sell for this flight to minimize their costs?
Develop a 95% confidence interval estimate of the population mean sales price and population mean number of days to sell for Gulf View condominiums. Interpret your results.
Explain the important points of the Central Limit Theorem.
A professor recently gave a quiz in their class and the quiz scores have a bell-shaped distribution with a mean of 30 and a standard deviation of 5.
Determine the number of stores that must be sampled in order to estimate the true proportion to within 0.05 with 95% confidence using the large-sample method.
A graphic designer makes a presentation to clients and this results in sales of her services in 1/4 of the cases. Assuming the results for different clients are independent.
Describe the direction of the relationship between the Hamstring strength index 60°/s and the Shuttle run test and without using numbers, describe the relationship between the Hamstring strength index 120°/s and the Triple hop index.
A study revealed that the probability a judge acquitting a randomly chosen defendant was 0.17 while the probability that a jury would acquit a randomly chosen defendant was 0.33. Further, the probability that both a judge and a jury would have ..
What is the rationale behind the minimax regret rule? What are some less formal and precise methods of dealing with uncertainty? When are these useful - calculate the standard deviation of the distribution of each investment.
What is the probability that he is able to go on the trip
analyze the processed data in statistical survey. below are the results of the processed data.question 1 yes p 0.1986
Health plans use many tools to try to control the cost of prescription medicines. For older drugs, generic substitutes that are equivalent to name brand drugs are sometimes available at a lower cost. Another tool that may lower costs is restrictin..
The purpose of this assignmentto test a student's expertise in developing an introduction and writing a review of related literature and developing research gaps that can be addressed by future studies
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