subject
Mathematics, 20.10.2021 14:00 vallhernandez13

A boutique hotel is managing reservations for a given night. Currently, it has 15 rooms available for reservation. When a customer makes a reservation, there is a 0.30 chance of the customer cancelling a reservation, and a 0.70 chance of the customer showing for the reservation. Each customer that shows up pays a rate of $300, while each customer that cancels is charged a $100 cancellation fee. Suppose that the hotel takes exactly 15 reservations. Dismayed by the high rate of cancellations, the hotel considers the possibility of overbooking, i. e., accepting more reservations than the available capacity of 15 rooms.
What is the largest number of reservations the hotel should accept to ensure that the probability of having insufficient capacity (i. e., the number of customers who show up is higher than the number of available rooms) is at most 0.25?

ansver
Answers: 3

Another question on Mathematics

question
Mathematics, 21.06.2019 14:50
Which best describes the strength of the correlation, and what is true about the causation between the variables? it is a weak negative correlation, and it is not likely causal. it is a weak negative correlation, and it is likely causal. it is a strong negative correlation, and it is not likely causal. it is a strong negative correlation, and it is likely causal.
Answers: 1
question
Mathematics, 21.06.2019 19:20
Thompson and thompson is a steel bolts manufacturing company. their current steel bolts have a mean diameter of 127 millimeters, and a variance of 36. if a random sample of 35 steel bolts is selected, what is the probability that the sample mean would differ from the population mean by greater than 0.5 millimeters? round your answer to four decimal places.
Answers: 3
question
Mathematics, 22.06.2019 05:30
The sales tax for an item was $8.40 and it cost $420 before tax. find the sales tax rate. write your answer as a percentage.
Answers: 1
question
Mathematics, 22.06.2019 06:00
3. mr. sanchez’s class sold fruit pies for $1.65 each and mr. kelly’s class sold bottles of fruit juice for $1.36 each. together, the classes sold 79 items and earned $118.17 for their school. (a) write and solve a system of equations that model the problem. show all your work. (b) which class earned more money? (c) how much more money did that class earn?
Answers: 1
You know the right answer?
A boutique hotel is managing reservations for a given night. Currently, it has 15 rooms available fo...
Questions
question
Mathematics, 01.07.2019 19:30
question
English, 01.07.2019 19:30
question
Mathematics, 01.07.2019 19:30
Questions on the website: 13722367