Consider the following regression model. Weekend is whether or not the visit was on a weekend. Distance is how far the guests have to travel to get to the amusement park. Rides and Games are the number of rides and games, respectively. Clean is a cleanliness score from 1-10. Num.Child is the number of children with the guest. Wait is the average wait time for the rides.

Multiple R-squared: 0.8632,

Adjusted R-squared: 0.8787

F-statistic: 151.6 on 7 and 492 DF, p-value: .00000000022

Coeffiients:

Estimate Std. Error t value Pr(>ItI)

(Intercept) -140.61254 7.15405 -19.655 0.0000016

wekend -0.71573 0.80870 -0.885 0.376572

distance 0.04494 0.01219 3.686 0.000253

rides 0.61361 0.01219 5.072 0.0000059

games 0.13833 0.05872 2.356 0.18882

clean 0.92725 0.13593 6.821 0.000061

num.child 3.61602 0.26980 13.403 0.000025

wait 0.56476 0.04064 13.896 0.000031

a) do you think that this is a good regression model? Why or why not?

b)should all of the input variables in the model be included? If not, which variables should be removed from the model and why?

c) Generate a point estimate for the satisfaction level of an amusement park visit that is on a Friday, to an amusement park that is 63 miles away, that has 20 rides and 15 games. The park has a cleanliness score of 8, and an average wait time for each ride of 10 minutes. The guest has 3 children with them.

Personnel in a luxury hotel readily offer advice and recommendations about services and area activities. Complete each sentence with the correct verb form, either the infinitive, present indicative, or present subjunctive, according to the context.

Problem 2. The US National Park Service (NPS) believes that airborne sulfur pollution and acid rain has significantly reducing the water quality in several lakes and streams in the Adirondacks State Park in NY. Many of these water bodies are considered biologically ‘dead.’ Coal fired power plants in the Midwest contribute most of the pollution. If 70% of the sulfur pollution was removed, the NPS believes that many of the lakes and streams would return to their natural biological state. The costs and benefits associated with this project are as follows:

1. Construction cost for sulfur removal equipment = $300 million for each of the first three years of the project. (During these three years there are no other costs associated with the project.)

2. Operation and maintenance costs = $ 85 million per year (These costs begin to accrue once the project comes on-line in the fourth year. They continue to accrue over the entire life of the equipment, i.e., through the 20th year.)

3. Estimated increase in revenues earned by the Adirondacks State Park = $ 150 million per year (These additional revenues accrue so long as the sulfur reduction equipment is operating.)

4. Reduced incidence of acid rain in the Adirondacks Park area valued at: = $ 2 million per year. (These benefits begin accruing once the project comes on-line and are assumed to continue over an infinitely long time period.) Assume that the discount rate is 3% per year.

Sensitivity analysis: To determine the sensitivity of your conclusion regarding whether the project makes economic sense or not, (a) evaluate the project at a discount rate of 5% per year, and (b) assume that the estimated increase in Park revenues is $130 million per year instead of $150 million per year. You can assume a discount rate of 3% per year for this. What is your conclusion now?

Policy recommendation: Based on all your calculations, what is your overall recommendation regarding this project?

PROBLEM IV Binghamton University is building a recreation center. The estimated construction cost is $12 million with annual staffing and maintenance costs of $750,000 over the 20-year life of the project (ie, t = 0, 1, 2, …, 19). At the end of the life of the project (ie, at t = 19), Binghamton expects to be able to sell the land for $4 million, though the amount could be as low as $2 million and as high as $5 million. Analysts estimate the first-year benefits (accruing at the end of the year of the first year, ie at t =1) to be $1.2 million. They expect the annual benefit to grow in real terms due to increases in population and income. Their prediction is an annual growth rate of 4 percent, but it could be as low as 1 percent or as high as 6 percent. Analysts also estimate the real discount rate for Binghamton to be 6 percent per year, though it could be a percentage point lower or higher.

1. Calculate the present value of net benefits for this project using the analysts’ predictions.

2. Investigate the sensitivity of the present value of net benefits to alternative projections within the ranges given by the analysts. Change only one assumption at a time, and try all possible combinations of assumptions (there are 27 possible combinations).

3. Based on your analysis on parts 1 and 2 of this problem, do you think Binghamton University should build the recreation center?

R.A.T.-Create Your Own Water Park Apply your knowledge of polynomial functions to create a water park, with 6 waterslides - one for under 6 years old (highest point at least 5m above ground) two for ages 6 to 12 (highest point at least 10m above ground) three for over age 12 (highest point at least 20 m above ground)

A Create a polynomial equation for each waterslide. Show all of your work. The waterslide must begin at the y axis and the x axis must represent the ground. For each function, write the original function in factored form, then explain the transformations that were performed, in order to obtain the model function.

B. Graph (and print) each function using desmos. State the domain and range of each function.

C. Choose one of your waterslides and determine the interval(s) in which the height of the ride was above 3m. Explain your method.

D. Choose one of the waterslides for ages 12 and up and state the interval (from peak to trough) where the waterslide is steepest. Then determine the average rate of change for that interval (by using the equation). Next, determine the instantaneous rate of change at the point in the interval when the person is moving the quickest. Interpret the meaning of these numbers. Note: the maximum steepness of a ride should not exceed 4:1, rise to run. The waterslide should be decelerating as it comes to a stop.

1. Define “Noise Factor”.

2. In an RF receiver system with cascaded amplifiers, where should most of the RF amplification take place, near the antenna or near the output? Why?

The state of California has a mean annual rainfall of 22 inches, whereas the state of New York has a mean annual rainfall of 42 inches. Assume that the standard deviation for both states is 4 inches. A sample of 34 years of rainfall for California and a sample of 46 years of rainfall for New York has been taken.

(a)

Show the probability distribution of the sample mean annual rainfall for California.

A bell-shaped curve is above a horizontal axis labeled inches.

• The horizontal axis ranges from about −2.1 to about 2.1.
• The curve enters the viewing window near −2.1 just above the horizontal axis, curves up to the right, and reaches a maximum near 0.
• The curve then curves down and to the right until it leaves the viewing window at the same height it entered near 2.1.

A bell-shaped curve is above a horizontal axis labeled inches.

• The horizontal axis ranges from about 39.9 to about 44.1.
• The curve enters the viewing window near 39.9 just above the horizontal axis, curves up to the right, and reaches a maximum near 42.
• The curve then curves down and to the right until it leaves the viewing window at the same height it entered near 44.1.

A bell-shaped curve is above a horizontal axis labeled inches.

• The horizontal axis ranges from about 19.9 to about 24.1.
• The curve enters the viewing window near 19.9 just above the horizontal axis, curves up to the right, and reaches a maximum near 22.
• The curve then curves down and to the right until it leaves the viewing window at the same height it entered near 24.1.

A bell-shaped curve is above a horizontal axis labeled inches.

• The horizontal axis ranges from about 10 to about 34.
• The curve enters the viewing window near 10 just above the horizontal axis, curves up to the right, and reaches a maximum near 22.
• The curve then curves down and to the right until it leaves the viewing window at the same height it entered near 34.

(b)

What is the probability that the sample mean is within 1 inch of the population mean for California? (Round your answer to four decimal places.)

(c)

What is the probability that the sample mean is within 1 inch of the population mean for New York? (Round your answer to four decimal places.)

(d)

In which case, part (b) or part (c), is the probability of obtaining a sample mean within 1 inch of the population mean greater? Why?

part (c), because the population standard deviation is smallerpart (c), because the sample size is larger    part (b), because the standard error is smallerpart (b), because the population standard deviation is smaller

Concur Technologies, Inc., is a large expense-management company located in Redmond, Washington. The Wall Street Journal asked Concur to examine the data from 8.3 million expense reports to provide insights regarding business travel expenses. Their analysis of the data showed that New York was the most expensive city, with an average daily hotel room rate of $198 and an average amount spent on entertainment, including group meals and tickets for shows, sports, and other events, of $172. In comparison, the U.S. averages for these two categories were $89 for the room rate and $99 for entertainment. The table in the Excel Online file below shows the average daily hotel room rate and the amount spent on entertainment for a random sample of 9 of the 25 most visited U.S. cities (The Wall Street Journal, August 18, 2011). Construct a spreadsheet to answer the following questions.

1. What does the scatter diagram developed in part (a) indicate about the relationship between the two variables?

   The scatter diagram indicates a _________ linear relationship between the hotel room rate and the amount spent on entertainment.

2. Develop the least squares estimated regression equation.

   Entertainment=______+_________ room rate (to 4 decimals)

3. Provide an interpretation for the slope of the estimated regression equation (to 3 decimals).

   The slope of the estimated regression line is approximately . So, for every dollar _________ in the hotel room rate the amount spent on entertainment increases by $.

4. The average room rate in Chicago is $128, considerably higher than the U.S. average. Predict the entertainment expense per day for Chicago (to whole number).

   $

Concur Technologies, Inc., is a large expense-management company located in Redmond, Washington.  The Wall Street Journal asked Concur to examine the data from 8.3 million expense reports to provide insights regarding business travel expenses. Their analysis of the data showed that New York was the most expensive city, with an average daily hotel room rate of $198 and an average amount spent on entertainment, including group meals and tickets for shows, sports, and other events, of $172. In comparison, the U.S. averages for these two categories were $89 for the room rate and $99 for entertainment. The table in the Excel Online file below shows the average daily hotel room rate and the amount spent on entertainment for a random sample of 9 of the 25 most visited U.S. cities (The Wall Street Journal, August 18, 2011). Construct a spreadsheet to answer the following questions.

1. What does the scatter diagram developed in part (a) indicate about the relationship between the two variables?

   The scatter diagram indicates a  _________negativepositive linear relationship between the hotel room rate and the amount spent on entertainment.

2. Develop the least squares estimated regression equation.

        (to 4 decimals)

3. Provide an interpretation for the slope of the estimated regression equation (to 3 decimals).

   The slope of the estimated regression line is approximately  . So, for every dollar _________increasedecrease in the hotel room rate the amount spent on entertainment increases by $.

4. The average room rate in Chicago is $128, considerably higher than the U.S. average. Predict the entertainment expense per day for Chicago (to whole number).

Case Study

Terror at the Taj Bombay: Customer-Centric Leadership

The night of November 26, 2008, 10 armed individuals from the terrorist group Lashkar-e-Taiba (Army of the Righteous) entered the western-Indian city of Mumbai (formerly Bombay) to attack pre-determined locations, including the Taj MahalPalace and Tower (Taj Bombay). Over three nights and two days, terrorists killed 159 people and wounded 211 across the city. Of these, 34 people died and 28 were injured during the three-day siege of the Taj Bombay. The attacks, which became known in India as “26/11”, had a dramatic and lasting impact on the Indian national psyche.

However, the Taj Bombay received praise in the aftermath of the attach- specifically from hotel guests-for the quick-thinking actions of hotel staff to ensure the safety of hotel guests at the expense of their own personal safety. In addition to managing the emotional and psychological challenges of moving forward after the loss of employees and extensive physical da1nage to the hotel, senior executives wondered if the Taj brand would survive. Images of the Taj Bombay under attack were reprinted in newspapers and shown on television news stations worldwide. Executives had to decide when -and if -to re-open the hotel, whether to continue to use the Taj brand name, and what message to send out to consumers. The risk was to be viewed as insensitive by either avoiding the tragedy completely in their messages to the public or being seen as taking advantage of public sympathy in talking about the tragedy, and in deciding the right time to return to "business as usual" at the Taj Bombay.

1. What specific actions do you take in both the short-term and long-term in rebuilding the Taj brand name?
2. What would you do to recover from "being the living image of the terrorist attack" as Ratan Tata describes it? Is this even possible?

Pulau Penang Island Resort. Theresa Nunn is planning a​ 30-day vacation on Pulau​ Penang, Malaysia, one year from now. The present charge for a luxury suite plus meals in Malaysian ringgit​ (RM) is RM1,041​/day. The Malaysian ringgit presently trades at RM3.1350​/$. She determines that the dollar cost today for a​ 30-day stay would be $9,961.72. The hotel informs her that any increase in its room charges will be limited to any increase in the Malaysian cost of living. Malaysian inflation is expected to be 2.7397% annum, while U.S. inflation is expected to be 1.287​%.

a. How many dollars might Theresa expect to need one year hence to pay for her​ 30-day vacation?

b. By what percent will the dollar cost have gone​ up? Why?