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The Titan hotel routinely experiences no-shows (people making reservations and not showing up) during the peak season when the hotel is always full. No-shows follows the probability distribution given in the table below: No-shows (x) Probability 0 0.1 1 0.13 2 0.31 3 0.16 4 0.21 5 0.09 In order to lessen the number of vacant rooms, the hotel uses an overbooking policy through which it accepts three more reservations than the number of rooms available. On a day when the hotel experiences fewer than three no-shows, there are not enough rooms for those who have reservations. The hotels policy is to send these guests to a closely located competing hotel, at a cost, supported by the Titan hotel, of $125 per person. If the number of no-shows is more than three, the hotel has vacant rooms, resulting in an opportunity cost of $50 per person. a. Simulate 3000 days of operation to calculate the hotels average daily cost due to overbooking and opportunity costs. b. Determine the optimal number (0, 1, 2, 3, 4, 5, 6) of rooms that the Titan hotel should overbook in order to minimize average daily costs.
the value of a graphing calculator is $225. after 2 years.the value of this calculator is $160. find the value of the calculator after 5 years.
Determine the linear correlation coefficient using x = HP and y = MPG. Perform the hypothesis test of rho to determine whether horsepower and gasoline mileage are negatively correlated at the one percent level of significance? [For the critical value..
Give the critical region, test statistic value, & conclusion for the F test.
Find the distance from the base of a 50 m lighthouse to a boat if the angle of depression to the boat from the top of the lighthouse is 6°. Round your answer to one decimal place.
The expression 200 - 16t2 models the height in feet of an object that falls from the initial height of 200 feet t seconds after being dropped. Find the height of the object after 1.25 seconds.
at the close of business a store owner had 505 in 5 and 10 dollar bills in the cash register. if there was a total of
as part of a study investigators wanted to assess the accuracy of self-reported smoking status. participants are asked
if q is the number of quarts of lemonade, then 1/4 q can be used to fine the number of cups of lemonade mix needed to make the lemonade. how much mix is need to make each amount of lemonade ?
the jewwelry store is having a 30% off sale. the sale price of a watch is 249.90,what was the original price.
a person purchased some bags of insulation for $1000.if she had purchased 5 more bags for the same sum,they would have cost 12 cent less per bag.how many did she buy?
starting at point A, a ship sails 48km on a bearing of 226°, then turns and sails 15 km on a bearing of 286°. find the distance of the ship from the point A.
Find the unique factorisation and determine which of the original statement or the negation is true - Prove the Giftbox Theorem using the method of contradiction
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