Answer:
Check the explanation
Step-by-step explanation:
Cost of over reserving full cost tickets, Co = $440 ( empty seats as we cannot get even the discounted revenue)
Cost of under reserving Cu = 770-440 = $330 ( because you sell more discounted tickets)
Now critical ratio = Cu / (Cu+Co) = 330/770 = 0.42857
Now for above critical ratio ,z = -0.18 ( refer standard normal distribution table)
Optimal protection level = mean +z*standard deviation = 100-0.18*25 = 95.5 = 96
The possible costs include: all the above. You may need to provide compensation to passenger and make alternative travel arrangements. Also passenger won't be happy by over booking and their will be loss of good will.
Answer:
Yes, the test was conducted with a risk of a type I error.
Step-by-step explanation:
If we reject the null hypothesis, does this mean that we have proved it to be false beyond all doubt? Explain your answer.
Yes, for a null hypothesis to be rejected, it has being proven beyond all doubt that the null hypothesis will not work. the normal distribution has being used for the probability calculation.
if the null hypothesis is rejected and the alternative hypothesis is accepted, a type I error as occur.
In general terms:
‘a hypothesis has been rejected when it should have been accepted’. When this occurs, it is called a type I error.
Answer:
The answer is a quadratic equation
An irrational numbers are numbers that cannot be expressed as simple fractions.
The square root of 37 is irrational.
Since it cannot be expressed as a simple fraction because if turned into a decimal
= 6.08276253
Answer = irrational.
Good Luck! :)
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