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Part A: Building traveler loyalty is a key strategic factor for a popular vacation rental platform. Several factors can deter repeat bookings, one of which is cancellation by the owner of the property. The data science team observes that 35% of travelers who have not had a reservation cancelled by an owner return to the site for repeat bookings. Travelers with a reservation that WAS cancelled by an owner repeat book at a 20% rate. If owners cancel 8% of the time, what is the overall repeat booking rate?
Part B: The data science team also seeks to understand the impact on customer loyalty with respect to another type of cancellation: traveler cancellations. The repeat booking rate for owner cancellations is 20%; for traveler cancellations, 28%; and no cancellation, 36%. If the overall repeat booking rate is 34%, and the probability of an owner cancellation is 8%, what is the probability of a traveler cancellation?
MATH1550H: Assignment: Question: A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..
MATH1550H: Assignment: Question: what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?
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MATH1550H: Assignment: Questions: Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.
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