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Suppose a small plane can seat 20 passengers. Airlines often book more passengers than seats available knowing there is a good chance someone might cancel and the airline loses $250 for every empty seat. On the other hand, when they are overbooked and more people show up than there are seats available for them, they have to offer an incentive for passengers to reschedule and the incentive to get a passenger to give up a seat costs the airline $100 on average. How many seats should the airline sell in order to minimize their expected losses?
(Note: this is a question covering some of the material from Conditional Probability & Independence and/or Random Variables (from "A First Course in Probability" by Ross) so it may be tricky. Please explain in details, will reward THANKS)
A plane is heading due south with an airspeed of 264 mph. A wind from a direction of 59 degrees is blowing at 13 mph. Find the direction the plane is actually headed. (Note that bearings are measured from north, clockwise.
Differentiate between a function and a linear function. Describe the mathematical equation of a standard linear function. Describe how to compute the slope of a line.
It is estimated that y , the number of items of a particular commodity (in millions)sold in the united States in year x represents the number of years since 1990 , is given the formula y=1.38x+3.49.
Find and interpret the margin of error for a 95% confidence interval for the population proportion of Americans who believe in heaven.
Explain the five-steps for solving rational equations. Can any of these steps be eliminated? Can the order of these steps be changed? Would you add any steps to make it easier, or to make it easier to understand?
Find the nodes x_i and the weights w_i so that the Gaussian quadrature of the sum from i=1 to 2 of (w_i) f(x_i) approximating the integral from -1 to 1 of f(x)dx is exact when f(x) is a polynomial of as high degree as possible.
Write an equation for the secant line AB where A= (a,f(a)) and B= (b,f(b)) Write an equation for the tangent line that is parallel to the secant line AB. Approximating functions: Let f be a function with f'(x)= sinx^2 and f(0)= -1
Upstream, downstream: Junior's boat will go 15 miles per hour in still water. If he can go 12 miles downstream in the same amount of time as it takes to go 9 miles upstream, then what is the speed of the current?
In an election between two candidates, 480 votes were cast. If the winner recieved 340 more votes than the loser, how many votes did the winner recieve?
We flip a fair coin and then draw a ball from the first or second urn depending upon whether the outcome was heads or tails respectively. What is the probability that the outcome of the coin toss was heads, given that a white ball was selected.
Using graphing to check your answers is helpful. When you factor a trinomial into two binomials, each binomial represents a linear relationship. If you plot the two binomials (which are just lines) on a graph
A quick setting grout made from a mixture of cement/sandwater and an additive is needed for a tunnelling project
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