An airline charges the following baggage fees: $25 for the first bag and $35 for the second. Suppose 51% of passengers have no checked luggage, 33% have one piece of checked luggage and 16% have two pieces. We suppose a negligible portion of people check more than two bags.

Required:
a. Build a probability model, compute the average revenue per passenger, and compute the corresponding standard deviation.
b. About how much revenue should the airline expect for a flight of 120 passengers? With what standard deviation? Note any assumptions you make and if you think they are justified.

Answers

Answer 1

Answer:

The average revenue per passenger is about $13.85

μ = $13.85

The corresponding standard deviation is $14.51

σ = $14.51

The airline should expect revenue of $1,662 with a standard deviation of $14.51 for a flight of 120 passengers.

Expected revenue = $1,662 ± 14.51

Step-by-step explanation:

An airline charges the following baggage fees:

$25 for the first bag and $35 for the second

Suppose 51% of passengers have no checked luggage,

P(0) = 0.51

33% have one piece of checked luggage and 16% have two pieces.

P(1) = 0.33

P(2) = 0.16

a. Build a probability model, compute the average revenue per passenger, and compute the corresponding standard deviation.

The average revenue per passenger is given by

μ = 0×P(0) + 25×P(1) + 35×P(2)

μ = 0×0.51 + 25×0.33 + 35×0.16

μ = 0 + 8.25 + 5.6

μ = $13.85

Therefore, the average revenue per passenger is about $13.85

The corresponding standard deviation is given by

σ = √σ²

Where σ² is the variance and is given by

σ² = (0 - 13.85)²×0.51 + (25 - 13.85)²×0.33 + (35 - 13.85)²×0.16

σ² = 97.83 + 41.03 + 71.57

σ² = 210.43

So,

σ = √210.43

σ = $14.51

Therefore, the corresponding standard deviation is $14.51

b. About how much revenue should the airline expect for a flight of 120 passengers? With what standard deviation?

For 120 passengers,

Expected revenue = 120×$13.85

Expected revenue = $1,662 ± 14.51

Therefore, the airline should expect revenue of $1,662 with a standard deviation of $14.51 for a flight of 120 passengers.


Related Questions

A 4-ft-high and 7-ft-wide rectangular plate is submerged vertically in water so that the top is 1 ft below the surface. Express the hydrostatic force against one side of the plate as an integral and evaluate it. (Recall that the weight density of water is 62.5 lb/ft3).

Answers

Total depth of the bottom of the plate is 4 + 1 = 5

Force = limit(5,1) 62.5 *7* x * dx

= 437.5. Lim(5,1) x*dx

= 437.5(x^2/2)^5 , 1

= 437.5 x (5^2/2 - 1/2)

= 437.5 x 12

= 5,250 pounds

The hydrostatic force against one side of the plate will be 5250 pounds.

What is hydrostatic force?

The force exerted by the water of surface is known as hydrostatic force.

A 4-ft-high and 7-ft-wide rectangular plate is submerged vertically in water so that the top is 1 ft below the surface.

[tex]\rm Force = \int^5_1 62.5 *7* x * dx\\\\\\ Force = 437.5 \left [ \dfrac{x^2}{2} \right]^5_1\\\\\\Force = 218.75 \left [ x^2 \right]^5_1\\\\[/tex]

Solve the equation further, we have

Force = 218.75 x (5² – 1²)

Force = 218.75 x 24

Force = 5,250 pounds

More about the hydrostatic force link is given below.

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Find the value of

5x when x = 6

Answers

Answer:

30

solution,

X=6

[tex]5x \\ = 5 \times x \\ = 5 \times 6 \\ = 30[/tex]

Hope this helps...

Good luck on your assignment

Answer:

Step-by-step explanation:

x = 6

5x = 5 *6 = 30

PLEASE HELP ME!!!!!!!!!! What polygon is tesellated to form this image?

Answers

Answer:

Pentagon

Step-by-step explanation:

the head is the closest I see

Which expression is not requivalent to
3x - 2?

Answers

Answer:

anything that is not -2+3x or x=2/3 is wrong

Step-by-step explanation:

I NEED HELP PLEASE, THANKS!

Answers

As we are not being asked to draw this component form, it makes things a bit more simple. Take the following points that we are given, ( 8, - 2 ) and ( - 2, - 2 ) and consider them in the form ( P1, P2 ) and ( Q1, Q2 ). To determine this component form, you would have to subtract P1 and Q1, P2 and Q2 - or vice versa -

[tex]( 8 - ( - 2 ) ), ( - 2 - ( - 2 ) \\( 10, 0 )\\< 10, 0 >[/tex]

Solution = Option A

Please answer this correctly

Answers

Answer:

12.5%

Step-by-step explanation:

There is only 1 seven card from the 8 total cards.

1 out of 8.

1/8 = 0.125

P(7) = 12.5%

Answer:

12.5%

Step-by-step explanation:

Total Cards = 8

Number 7 = 1

P(7) = 1/8

In %age:

=> 12.5%

John is going for a walk. He walks for 6.4 miles at a speed of 2 miles per hour. For how many hours does he walk?

Answers

Answer:

t = d/s

t = 6.4 / 2 miles

t = 3.2 miles

Step-by-step explanation:

follow me plzzz

I NEED HELP PLEASE, THANKS! :) Write the augmented matrix for the system of linear equations. –9w + x + 8y + 2z = –6 –5x + 9y – 7z = 6 –3w – 6x + 4y + 9z = 4 –3w – 8x + y = –2

Answers

Answer:

3rd Matrix

Step-by-step explanation:

When you start putting the coefficients in as the matrix, you see that -9 has to be the 1st number, so that eliminates choice B and choice D as answers. You are left with choices A and C. C is the correct choice because when you plug in the second equation, your coefficient is -5, not 0.

Answer:

First Matrix

Step-by-step explanation:

Looking at the first equation, we see that the leading coefficient is -9. This gets rid of choice B and D because the first number in these matrices are not -9. You are left with choices A and C. Looking at the second equation, we see that there is no "w" variable, so we need to add one. The coefficient of this "w" is going to be 0. This means that A is the correct choice. Just to be sure though, evaluate all other coefficients to see if they line up with the matrix. Hope this helps.

6th grade math , help me please :D

Answers

Answer:

a) 6t

b) 6q

c) 8a

d) 2r + 22y

Step-by-step explanation:

a) 6t = 2t +4t

b) 6q = 7q + q-2q

c) 8a = 6-6+8a

d) 2r + 22y = 12r + 10y - 10r +12y

good luck!!

Chris placed $7,400 in a savings account which compounds interest annually at a rate of 5.7%. How much will he have in the account after 4 years?

Answers

Answer:$9237.02

Step-by-step explanation:

A = p(1+r/n)^nt

A = 7400 (1 + 0.057)^4

A = 7400(1.057)^4

A = 9237.02

Do not add the .02 at the end of this answer

Basic kinematics. Please help! Will give brainliest! Show all work!

Answers

Answer: 3.5 m/s

Step-by-step explanation:

[tex]v=\frac{vf+vi}{2}[/tex]

[tex]v=\frac{5+2}{2}[/tex]

5+2=7

7/2= 3.5

ial

What should be her first step?

isolating the constant 1

adding 4 to both sides of the equation

O isolating the second term, -4x

O adding 1 to both sides of the equation

Answers

Answer:

Fiona is completing the square to solve the polynomial equation.

x2 – 4x + 1 = 0

What should be her first step?

CORRECT--->>> 1) isolating the constant 1

2) adding 4 to both sides of the equation

3) isolating the second term, –4x

4) adding 1 to both sides of the equation

Step-by-step explanation:

EDGE 2021

The correct first step is to add 7 on both sides of the equation.

Option B is the correct answer.

We have,

To solve the equation 3x - 7 = 8, the first step is to add 7 on both sides of the equation.

We can also solve the equation as:

3x - 7 = 8

Adding 7 on both sides.

3x - 7 + 7 = 8 + 7

3x = 15

Dividing 3 on both sides.

x = 15/3

x = 5

Therefore,

The correct first step is to add 7 on both sides of the equation.

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The complete question:

Solve the equation 3x - 7 = 8.

What should be your first step?

O Isolating the constant term, -7

O Adding 7 to both sides of the equation.

O Isolating the second term, 3x.

O Subtracting 8 from both sides of the equation.

Consider the two savings plans below. Compare the balances in each plan after 14 years. Which person deposited more money in the​ plan? Which of the two investment strategies is​ better? Yolanda deposits ​$100 per month in an account with an APR of 5​%, while Zach deposits ​$1200 at the end of each year in an account with an APR of 5​%.

Answers

Step-by-step explanation:

It is not specified the compounding period, which in general is a month these days.  So we will assume money is compounded each month, otherwise there is no point depositing monthly.

1. Yolanda:

APR=5% is equivalent to

Monthly interest = 5%/12 = 5/12% = 5/1200 = 1/240 = i

Monthly deposit = 100 = A

Future value after 14 years = 14*12 months = 168 months = n

FV1 =  A((1+i)^n-1)/i

=100*((1+1/240)^168-1)/(1/240)

= $24259.83

2. Zach

He deposits 1200 at the end of the year.  The last payment does not benefit from interest.

Since it is a yearly payment, each amount earns interest over a year, giving an annual interest of

(1+i)^12 -1 = 1.051161897881733 -1 =0.051161897881733 = j

Thus for 13 annual payments with annual interest j gives a compounded amount after 14 years, plus the last payment which does not earn interest

FV2 = A((1+j)^n-1)/j

= 1200((1.051161897881733)^13-1)/(0.051161897881733)+1200

= 22613.34

Summary

Total investments:

Yolanda = 12*100*14 = 16800

Zach = 1200 * 14 = 16800

So both investors have invested $16800 over the 14 year period.

Since Yolanda achieves a higher future value after 14 years ($24259.83) over that of Zach ($22613.34), financially Yolanda has a better strategy.

Note:

If zach had invested annually at the beginning of the year, he would have obtained:

A((1+j)^n-1)/j

= 1200((1.051161897881733)^14-1)/(0.051161897881733)

= 24908.88

which is superior over Yolanda's return.

David and Tina share their profit in a ratio of 5:7. Tina gets £70 more than David. How much money did David receive?

Answers

Answer:

Amount of money David received = £ 175

Step-by-step explanation:

Both of them share their profit in a ratio of 5:7 . Tina got £70 more than David. Let

the amount David received = a

amount Tina received = 70 + a

the total profit = 70 + 2a

Amount David received = 5/12 × 70 + 2a = a

Therefore,

5/12 × 70 + 2a = a

350 + 10a/12 = a

cross multiply

350 + 10a = 12a

collect like terms

350 = 12a - 10a

350 = 2a

divide both sides by 2

a  = 350/2

a = 175

Amount of money David received = £ 175

26.355 rounded to the nearest hundredth tell anser

Answers

Answer:

26.36

Step-by-step explanation:

Hundredths are the second decimal place from the decimal. You would round up to 26.36 because the number before that is up to 5. If it was below 5 you would round down to 26.35.

what's 3 - 3 x 6 + 2​

Answers

Answer:

-13

Step-by-step explanation:

Please help me I will mark BRAINLIEST THANK YOUUUUU

Answers

Answer:

33%

Step-by-step explanation:

The multiples of 3 are 3,6,9,12

Sum is 6+14+12+1 = 33

The total is 3+6+8+11+14+16+15+12+9+5+1=100

The experimental probability is  number of multiples of 3 over the total

33/100 = 33%

Of the last 100 customers entering a computer shop, 25 have purchased a computer. If the relative frequency method for computing probability is used, the probability that the next customer will purchase a computer is

Answers

Answer: 0.25

Step-by-step explanation:

The relative frequency of the customers that buy computers is equal to the number of customers that bought a computer divided the total number of customers that entered the shop.

p = 25/100 = 0.25

If we take this as the probability, then the probability that the next customer that enters the shop buys a computer is 0.25 or 25%

Any help would be greatly appreciated

Answers

Answer: (-3, -2)

Step-by-step explanation:

Plug in -2 for y to find x

x - 5(-2) = 7

Multiply -5 and -2

x + 10 = 7

Subtract 10 from both sides

x = -3

The first ordered pair is (-3, -2)


Suppose 27 cars start at a car race. In how many ways can the top 3 cars finish the race?
The number of different top three finishes possible for this race of 27 cars is
(Use integers for any number in the expression.)

Answers

Answer:

2925

Step-by-step explanation:

27 choose 3

(27!) / (24!3!)

the 24! cancels leaving the numerator with 27 x 26 x 25

(27 x 26 x 25) / (3 x 2 x 1)

Canceling out we get

9 x 13 x 25 which works out to be

2925!

Answer:

What expression? Anyways it is 17,550 different ways.

500

475

450

- ODX Group, Inc

-NAMSEK

-A&D

400

425

Peer Comms Ltd.

350

350

300

300

250

275

Value of 100 shares in $

250

200

200

175

175

150

150

175

150

125

100

150

-100

100

100

125

125

50

25

0

Year 1

Year 2

Year 3

Year 4

Year 5

How much would it cost to buy 100 shares in ODX Group, Inc. and 300 shares in

Peer Comms Ltd, in Year 5?

Answers

Options

(A)350 (B)375 (C)725 (D)750 (E)775

Answer:

(E)775

Step-by-step explanation:

From the attached graph

In Year 5

100 shares in ODX Group, Inc. was worth $175100 shares in Peer Comms Ltd was worth $200

Therefore the Cost of 100 shares in ODX Group, Inc. and 300 shares in  Peer Comms Ltd, in Year 5

=175+3(200)

=175+600

=$775

The correct option is E.

Find the value of X.

Answers

Answer:

  x = 4√5

Step-by-step explanation:

The triangles are all similar, so corresponding lengths are proportional.

  hypotenuse/short side = x/5 = (11+5)/x

  x^2 = 80 . . . . cross multiply

  x = 4√5 ≈ 8.94427

Two bond funds pay interest at rates that differ by 4%. Money invested for one year in the first fund earns $550 interest. The same amount invested in the other fund earns $770. Find the lower rate of interest. _________ %

Answers

Answer:

10% interest.

Step-by-step explanation:

Interest I = PRT/100

If the rate R = x% we have

550 = P*x *1 / 100

and

770 = P*(x + 4) * 1 / 100

so From  first equation

Px = 55000  and from the second

Px + 4P =  77000

So Px = 77000 - 4P

Therefore  77000 - 4P = 55000

4P = 22000

P = 5,500

So x = 55000/5500 = 10%.

And  the rate for the other fund is 10 + 4 = 14%.

PLEASE 36 POINTS!!! I WILL ALSO GIVE BRAINLIEST A system of linear equations includes the line that is created by the equation y = 0.5 x minus 1 and the line through the points (3, 1) and (–5, –7), shown below. On a coordinate plane, points are at (negative 5, negative 7) and (3, 1). What is the solution to the system of equations? (–6, –4) (0, –1) (0, –2) (2, 0)

Answers

Answer: D: (2, 0)

Step-by-step explanation:right on Edge 2020

Answer:

yes its d

Step-by-step explanation:

did on edge

Cheryl bought 3.4 pounds of coffee that cost $6.95 per pound . How many did she spend on coffee

Answers

Answer:

23.63

Step-by-step explanation:

multiply the cost by the pounds

Answer:

$23.63

Step-by-step explanation:

3.4 X 6.95 = 23.63

The perimeter of a rectangular painting is 310 centimeters. If the width of the painting is 56 centim

Answers

Answer:

The length is 99 cm

Step-by-step explanation:

The perimeter of a rectangle is

P = 2 (l+w)

310 = 2( l+56)

Divide each side by 2

310/2 = 2/2( l+56)

155 = l+56

Subtract 56

155-56 = l+56-56

99 = l

Answer:

99 centimeters

Step-by-step explanation:

Use formula for perimeter of a rectangle.

P = 2l + 2w

310 = 2l + 2(56)

Solve for l.

310 - 2(56) = 2l

310 - 112 = 2l

198 = 2l

99 = l

simplify. -4(2x-v) + (-6v+5x)

Answers

Answer:

-2v - 3x

Step-by-step explanation:

-4(2x-v) + (-6v+5x)

Expand.

-8x + 4v - 6v + 5x

Add or subtract like terms.

-6v + 4v - 8x + 5x

-2v - 3x

Answer: -2v-3x

Step-by-step explanation:

On a coordinate plane, a line goes through points (negative 4, 0) and (0, 4.5). What is the x-coordinate of the y-intercept? –4 0 4 5

Answers

Answer:

sorry for such a late answer but the correct option is the second table

Step-by-step explanation:

none needed

Answer: It is the second option 0

Step-by-step explanation: Because I took that test and got it right

Help pls any kind soul pls help

Answers

Answer:

3x

Step-by-step explanation:

If Dan is x years old and Olly is 3 times as old, that means that Olly's age is 3 * x or 3x for short.

Answer:

3x

Step-by-step explanation:

If Dan is x years old and Olly is 3 times old as Dan, then the expression is 3x.

2. Ricardo descended to a depth of 24 feet
below sea level. His friend Martin
descended 3 times as far. Write the
depth of Martin's descent as an integer.

Answers

Answer:

-72

Step-by-step explanation:

3*24=72

So he is 72 foot below see level or -72

Martin descended to a depth of 72 feet below sea level.

How to calculate the integer

Ricardo descended to a depth of 24 feet below sea level. His friend Martin descended 3 times as far.

If Ricardo descended to a depth of 24 feet below sea level, and Martin descended three times as far, we can calculate Martin's descent by multiplying Ricardo's depth by 3.

Martin's depth = Ricardo's depth * 3

Martin's depth = 24 feet * 3

Martin's depth = 72 feet

Therefore, Martin descended to a depth of 72 feet below sea level.

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