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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.
explain the mathematical relationship between fracturing and earth
an organization administers exams to a nationwide sampling of students to assess the quality of education in america.
the perimeter of a rectangle is 202 inches the length execeeds the width by 81 inches. what is the length and the width in inches.
Find the p-value for each of the following hypothesis testing situations.
A poster is to have an area of 250 in2 with 1 inch margins at the bottom and sides and a 3 inch margin at the top. What dimensions will give the largest printed area? (Give your answers correct to one decimal place.)
How many more permutations will there be in comparison to the number of combinations?
Waiting line model, As it is, models have been developed to assist managers understand and make better decisions concerning the operation of waiting lines
a rectangular pen is built with one side against a barn. Two hundred meters of fencing are used for the other three sides of the pen. What dimesnsions maximize the area of the pen?
The angle of elevation of a balloon from an observer A is 30 degrees and from observer B, 45 degrees. If the distance between A and B is 800 + 800√3 meters, how high is the balloon?
The population in City A is 3 1/2 times the population of City B. The population of City B is 1,600,000. What is the population of CityA?
You search online and are interested in contacting two companies, Heavy Lifting and Quick Move, to discuss their rates. Heavy Lifting charges an $80 fee plus $35 per hour. Quick Move charges $55 per hour with no additional fees.
What is the standard deviation of the number of patients in the sample that will have had a medication error? What is the probability of observing one or more patients who have had medication errors in the same sample?
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