A tour operator has a bus that can accommodate 20 tourists. The operator knows that tourists may not show up, so he sells 23 tickets. The probability that an individual tourist will show up is 92.5%, independent of all other tourists.
a) Explain why this is a binomial experiment. (You need to check each of the 4 properties of Binomial Experiment. Do not just list the properties).
b) Find the probability that the number of people who show up will exceed the capacity of the bus.
a. Here p=0.925 which is same for all
n=23 is constant
Events are independent
And only two outcomes
Hence all the properties of binomial are satisfied
b. Now we need to find
A tour operator has a bus that can accommodate 20 tourists. The operator knows that tourists...
5. (5 marks) A tour bus can hold 25 tourists. Tickets costs $50 and are non-refundable. From previous experience, the tour operator supposes there is a 10% chance of a no-show, independent of other ticket purchasers. The tour operator justifies that if there is a 10% (1 in 10) chance of a no show, he should expect that out of 25 tickets sold, on average 2.5 will not show up. In which case, the tour operator decides to sell 27...
5. (5 marks) A tou experience, the tour operator supposes there is a 10% chance of a no-show, independent of other ticket purchasers. The tour operator justifies that if there is a 10% (1 in 10) chance of a no show, he should expect that out of 25 tickets sold, on average 2.5 will not show up. In which case, the tour operator decides to sell 27 tickets. If a tourist shows up and the bus is full, the tour...
I got stuck on these two steps, can someone help me ?
ACCOUNTING CYCLE STEP 3: Post each trans me general ledger working papers provideo teach transaction in the general journal to the general ledger. Use s provided in your packet. Posting is the process of transferring general journal entry information to the seneral ledger. Fach number you post should be properly Cross-referenced Helpful Hints by: recording the general journal page number (ex. G1, G2, etc.) in the Posting Reference...
Read the Article posted below, then answer the following
questions:
1. As a junior member of your company’s committee to
explore new markets, you have received a memo from the chairperson
telling you to be prepared at the next meeting to discuss key
questions that need to be addressed if the company decides to look
further into the possibility of marketing to the BOP segment. The
ultimate goal of this meeting will be to establish a set of general
guidelines...
Please read the article and answer about questions. You and the Law Business and law are inseparable. For B-Money, the two predictably merged when he was negotiat- ing a deal for his tracks. At other times, the merger is unpredictable, like when your business faces an unexpected auto accident, product recall, or government regulation change. In either type of situation, when business owners know the law, they can better protect themselves and sometimes even avoid the problems completely. This chapter...