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United flight 15" has 182 seats. Because some people with reservations don't show up, United can overbook by accepting more than 182 reservations. Assume that there is a 0.0995 probability that a passenger with a reservation will not show up for the flight. Also assume that the airline accepts 200 reservations for the 182 seats that are available.
Find the probability that when 200 reservations are accepted, there are more passengers showing up than there are seats available. Is the probability of overbooking small enough so that it does no happen very often, or does it seem too high so that changes must be made to make it lower? Now use trial and error to find the maximum number of reservations that could be accepted so that the probability of having more passengers than seats is 0.05 or less.
Test hypothesis that average price of gasoline in western states is higher than national average for Continental USA and the District of Columbia, i.e., higher than $3.74.
Calculate a four-quarter weighted moving average for the number of America Online (AOL) subscribers for the nine quarters of data. The data are reported in thousands.
Consider a normal population with µ = 25 and σ = 7.0. (A) Calculate the standard score for a value x of 23.
The population mean annual salary for first year faculty at SLU is $47,000. Assuming that the population standard deviation is $1800:
Determine whether the difference in proportions is significant at the 0.05 level.
A sample of n=20 has a mean of M = 40. If the standard deviation is s=5, would a score of X= 55 be considered an extreme value? Why or why not?
What is the total expected annual inventory cost at the optimal order quantity? What is the re-order point?
The men took an average of 20.5 hours per year of personal time with a standard deviation of 2.75 hours. What is the pooled estimate of the variance? Round to three decimal places.
The following random sample was collected: 22 33 44 6 The 80% confidence interval for the mean is?
Why then does it matter whether we assume straight-line or MACRS depreciation when we assess project NPV?
The director of admissions at a large university advises parents of incoming students about the cost of textbooks during a typical semester.
If you were designing a study which group, a population or a sample, would you gather data from and why? Provide an explanation regarding whether or not the standard deviation is a biased or unbiased estimate.
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