American Airlines. (AA) is an airline that operates direct, daily flights between Los Angeles (LAX) and London Heathrow (LHR) airports. AA offers only business-class tickets and service on all of its flights. On the LAX-LHR route, AA flies Airbus 320 plane configured to have a capacity of 100 business-class seats.
AA sells tickets on LAX-LHR route at $3000 and offers a generous, 90% “last-minute cancellation” policy. In particular, under such policy, a customer may cancel her flight up to 30 minutes before the departure time and receive back 90% of the $3000 fare she paid. As a result, AA is able to sell many more tickets than its plane capacity. The downside is that customers who purchased tickets may not all show up for the flight.
To better manage the profitability of its LAX-LHR route in the presence of last-minute cancellations, AA uses “overbooking,” that involves selling more tickets than 100 seats on its plane. In particular, AA would like to compare two overbooking options: 1) selling T=110 tickets, and 2) selling T=115 tickets. AA is confident that, given the moderate business-class fare it charges and a generous cancellation policy it offers, it can always sell those numbers of tickets.
The sequence of events in the presence of overbooking is as follows:
·Tickets are sold to T potential passengers at the price of $3000 each
·At about 30 minutes prior to departure, the number of customers who actually show up for the flight, A, is revealed (0≤A≤T) and the refund of $2700 is paid to each of T-A customers who did not show up
·If A≤ 100, the plane takes off with A customers on board
·If A>100, the airline asks for A-100 volunteers to release their seats and to accept alternative flight arrangements, for additional compensation. As a result of this process, the airline pays to each of A-100 volunteers the compensation of $5000, and the plane takes off with 100 customers on board.
Thus, the revenue that AA earns for a particular flight depends on the values of T and A, and consists of three components: the initial revenue from selling tickets minus the refund, if any, paid for last-minute cancellations, and minus the additional compensation, if any, paid to customers asked to release their seats.
1) Suppose that AA decides to use Option 1 (i.e., sell T=110) tickets, and the number of customers who show up for the flight is 100. What is the revenue that AA will earn for this flight, in $? Round your answer to the closest integer value.
2) Suppose that AA decides to use Option 2 (i.e., sell T=115) tickets, and the number of customers who show up for the flight is 105. What is the revenue that AA will earn for this flight, in $? Round your answer to the closest integer value.
3) Zero Management is a business analyst working for AA who was assigned a task of comparing the two overbooking options described above. Zero has decided to design a simulation model that assumes that each of T customers who bought tickets has a probability of 0.9 of actually showing up for the flight, and that each customer makes a decision to show up for the flight independently of other customers. A statistician working for AA explained to Zero that, under these assumptions, the number of customers who actually show up for the flight, A, is a binomial random variable that can take integer values 0,1,2,… T, and that has the expected value of 0.9*T.
Suppose that the AA decides to use Option 1 (T=110). Let A be the number of customers who actually show up for the flight under this option. The algebraic expression for the revenue that AA earns for this flight, in $, is
a) 330,000 – 2,700*(100-A) – 5,000*IF(A<100, 0, A-100)
b) 330,000 – 2,700*(110-A) – 5,000*IF(A<110, 0, A-110)
c) 330,000 – 2,700*(110-A) – 5,000*IF(A<100, 0, A-100)
d) 330,000 – 2,700*(100-A) – 5,000*IF(A<110, 0, A-110)
4) Consider Option 1 (T=110). If it is possible for A to take integer values 0,1,2,…,110, what is the maximum possible revenue, in $, that AA can earn for a flight? Choose the closest value.
a) 330,000
b) 303,000
c) 300,000
d) 280,000
e) 270,600
5) Consider Option 1 (T=110). If it is possible for A to take integer values 0,1,2,…,110, what is the minimum possible revenue that AA can earn for a flight? Choose the closest value.
a) 303,000
b) 280,000
c) 270,600
d) 33,000
e) 0
In: Civil Engineering
write a report on the below topic given with following instruction
Topic: mechanical evaluation of asphalt mastics produced using waste stone sawdust.
get familiar with the design and/or construction of sustainable /eco-friendly flexible pavements and recognize the need and engage in the civil engineering life-long learning process.
Introduction.
Summary.
Objectives and history.
project details.
Impact of the sustainable/eco-friendly approach (advantages and disadvantages).
conclusion.
In: Civil Engineering
A reinforced concrete beam of normal weight concrete with an effective depth of 20 IN and a width of 12 IN is reinforced with 3 IN2 of grade 60 (fy = 60 KSI) rebar. The beam has a concrete compressive strength f’c of 3000 PSI.
(a) Determine the maximum ultimate moment which can be applied to the beam.
(b) If the only dead load on the beam is self-weight, determine the allowable uniformly distributed live load which can be applied to the beam. Assume an 18 FT span (simply supported) and 2.5 IN of cover over the reinforcement.
In: Civil Engineering
15. Secondary Clarifier Design: Calculate the final clarifier diameter for each of two (2) treatment trains of a system operated in parallel. The total flow will be 10,000 m3/day. mlss = 2200 mg/L, Recycle (R) = 0.27 Use an overflow rate of 20 m3/m2-day and a solids loading rate of 3 kg/m2-day.
Only consider design for the average flow conditions. Make whatever other assumptions are needed. The diameter of each tank in meters will be most nearly :
In: Civil Engineering
12. The total design flow is 15,000 m3/day. The NPDES limit is 25/30. Assume that the waste strength is 170 mg/L BOD after primary clarification. Y = 0.55 kg/kg, X=MLSS = 2200 mg/L, XR = 6,600 mg/L, Recycle (R) = 0.25, kd = 0.05 day -1, qc = 8 days
Make whatever other assumptions are needed. The volume the tank in m3 will be?
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Talk about and explain what types of procedures can be implemented to improve project management for watershed investigations when using Computer software technology such as GIS/Remote Sensing.
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The operator of a rock quarry is invited to bid on furnishing 42,000 cy of crushed aggregate for a job. The aggregate will be delivered to the job, which is 27 miles from the quarry. The aggregate will be loaded into trucks by a loader that can load at a rate of 75 cy/hr. The trucks will haul 18 cy/load at an average speed of 50 mi./hr loaded and 55 mi./hr empty. The estimated time to dump a load is 5 min. Assume a 45 min. effective hour for the loading and hauling operation.
The cost information for the job is: Royalty paid for aggregate
= $1.35/cy Overhead = $0.75/cy Profit = $1.20/cy Loader = $85.00/hr
Operator = $32.00/hr Trucks, each = $55.00/hr Truck driver, each =
$28.00/hr Foremen = $35.00/hr
a) How many trucks are required? b) What resource dictates project duration. c) What should be the bid price per cubic yard using the economic way to conduct the project?
In: Civil Engineering
1- Sketch a typical atmospheric pressure steam curing cycle identifying the main steps and
requirements for each step.
2- What is meant by the characteristic strength of concrete?
3- Compressive strength specimens could be cured by standard curing method or on site
beside the concrete elements. What is meant by standard curing? Explain when each curing
4- Discuss the effect of curing, time and temperature, on compressive strength of concrete.
State the minimum moist curing period according to ACI 308.
method is used.
In: Civil Engineering
In: Civil Engineering
do a comparative essay between Casa Mila and Casa Batllo of the architect Antoni Gaudi. In this essay you are to look at the similarities and differences of architectural design principles applied. You are to identify at least four principles and to justify their application by the architect through the two buildings.
In: Civil Engineering
Based on the microstructure of wood, explain the mechanisms responsible for retention of water within the structure of wood.
In: Civil Engineering
A product improvement project involves an existing product (M), with minor complexity (C), and is dependent for schedule on an existing system (D). (reference Risk Assessment Calculations document, Likelihood table).
Consider that criteria are weighted as follows:
M is (0.5), C is (0.3), D is (0.2)
Calculate the Composite Likelihood Factor (CLF).
W1= 0.5, W2=0.3, W3=0.2
(CLF) = W1 * M + W2 * C + W3 * D = 0.5 * 0.1 + 0.3 * 0.3 + 0.2 * 0.3 = 0.05 + 0.09 + 0.06 = 0.20
A product test failure is expected to have a minor impact on overall technical performance and be correctable within 2 months at a cost of 10 percent. (reference Risk Assessment Calculations document, Impact table).
Consider that criteria are weighted as follows:
TI is Moderate (0.5), CI is Minor (0.3), SI is Low (0.2)
Calculate the Composite Impact Factor (CIF).
Using the previous problems #1 Risk Likelihood (CLF) and #2 Risk Impact (CIF), calculate the Risk Consequence Rating (RCR).
In: Civil Engineering
(1) A simply supported steel beam is 30' long and subjected to a uniform distributed 1.3 kips per foot. What is the minimum required section modulus for this beam if we do not want its maximum stress to exceed 50 ksi?
(2) What is the minimum inertia of the beam in the previous question if we do not want it to deflect more than 1/2" ?
In: Civil Engineering
CONSTRUCTION PROJECT MANAGEMENT
From the late 1800s to the mid-1900s unions fought for and won improvements for labor which were later adopted by government laws and regulations for all workers. Which part of labor law and regulation was not originally won by unions:
Mandated overtime after a 40 hour work week |
||
Safety regulations |
||
Equal opportunity and affirmative action |
||
Pension regulations |
In: Civil Engineering
The results of torsion test on two shafts are shown in the figure. The top shaft shows the torsion failure in the cast iron which is a brittle material and the bottom figure is the test result in a shaft made of ductile steel. Considering the fact that brittle material are controlled by tension (fail in tension) and ductile materials are controlled by shear stress (fail in shear), explain why the brittle cast iron has a 45 degree fracture surface, while the ductile steel shaft has a flat fracture surface. Provide detailed logic based on stress transformation.
In: Civil Engineering