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Georgia [21]
3 years ago
6

Please show the work.

Mathematics
1 answer:
SSSSS [86.1K]3 years ago
4 0
[email protected]% for 20 years =1000000x(1.01)^20=1000000x1.22019=$1220190
[email protected]%, daily, for 20 years=200000 x (1+.1/360)^7200=200000x(1.000278)^7200=$ 1477400.84
b.200000 x (1.1)^20=$1345500
This still yields more than the first choice
☺☺☺☺
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3 years ago
A small regional carrier accepted 19 reservations for a particular flight with 17 seats. 14 reservations went to regular custome
Ludmilka [50]

Answer:

(a) The probability of overbooking is 0.2135.

(b) The probability that the flight has empty seats is 0.4625.

Step-by-step explanation:

Let the random variable <em>X</em> represent the number of passengers showing up for the flight.

It is provided that a small regional carrier accepted 19 reservations for a particular flight with 17 seats.

Of the 17 seats, 14 reservations went to regular customers who will arrive for the flight.

Number of reservations = 19

Regular customers = 14

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Remaining reservations, n = 19 - 14 = 5

P (A remaining passenger will arrive), <em>p</em> = 0.52

The random variable <em>X</em> thus follows a Binomial distribution with parameters <em>n</em> = 5 and <em>p</em> = 0.52.

(1)

Compute the probability of overbooking  as follows:

P (Overbooking occurs) = P(More than 3 shows up for the flight)

                                        =P(X>3)\\\\={5\choose 4}(0.52)^{4}(1-0.52)^{5-4}+{5\choose 5}(0.52)^{5}(1-0.52)^{5-5}\\\\=0.175478784+0.0380204032\\\\=0.2134991872\\\\\approx 0.2135

Thus, the probability of overbooking is 0.2135.

(2)

Compute the probability that the flight has empty seats as follows:

P (The flight has empty seats) = P (Less than 3 shows up for the flight)

=P(X

Thus, the probability that the flight has empty seats is 0.4625.

4 0
3 years ago
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