In: Economics
Answer the following question in a composition of 10 to 20 sentences
1. Explain what is missing from a focus on consumer research limited only to the United States, Canada, and Japan?
In: Operations Management
Show how the United States’ balance of payments accounts are affected when a Bolivian citizen borrows two million from U.S. banks to buy American farming equipment.
In: Economics
Why is it so difficult for a serious third political party, a party that has a real chance of winning the White House, to emerge in the United States?
Why is gerrymandering problematic for democracy?
In: Psychology
1. History of substance abuse in the United States
3. Explain a human development theory that relates to alcoholism
3. Design a counseling approach for a person dealing with substance abused
In: Psychology
Answer each essay question thoroughly in a minimum two paragraph (9-10 sentence each paragraph).
1. Was it unavoidable that political parties would arise in the United States?
In: Psychology
Even within a particular chain of hotels, lodging during the summer months can vary substantially depending on the type of room and the amenities offered. Suppose that we randomly select 50 billing statements from each of the computer databases of the Hotel A, the Hotel B, and the Hotel C chains, and record the nightly room rates. The means and standard deviations for 50 billing statements from each of the computer databases of each of the three hotel chains are given in the table.
Hotel A Hotel B Hotel C
Sample average ($) 145 160. 125
Sample standard deviation 17.6 22.6. 12.5
(a) Find a 95% confidence interval for the difference in the average room rates for the Hotel A and the Hotel C chains. (Round your answers to two decimal places.)
In: Statistics and Probability
Rocky Mountain National Park is a popular park for outdoor recreation activities in Colorado. According to U.S. National Park Service statistics, 46.7% of visitors to Rocky Mountain National Park in 2018 entered through the Beaver Meadows park entrance, 24.3% of visitors entered through the Fall River park entrance, 6.3% of visitors entered through the Grand Lake park entrance, and 22.7% of visitors had no recorded point of entry to the park.† Consider a random sample of 175 Rocky Mountain National Park visitors. Use the normal approximation of the binomial distribution to answer the following questions. (Round your answers to four decimal places.)
(a)
What is the probability that at least 65 visitors had a recorded
entry through the Beaver Meadows park entrance?
(b)
What is the probability that at least 60 but less than 70 visitors
had a recorded entry through the Beaver Meadows park entrance?
(c)
What is the probability that fewer than 11 visitors had a recorded
entry through the Grand Lake park entrance?
(d)
What is the probability that more than 40 visitors have no recorded
point of entry?
In: Statistics and Probability
Rocky Mountain National Park is a popular park for outdoor recreation activities in Colorado. According to U.S. National Park Service statistics, 46.7% of visitors to Rocky Mountain National Park in 2018 entered through the Beaver Meadows park entrance, 24.3% of visitors entered through the Fall River park entrance, 6.3% of visitors entered through the Grand Lake park entrance, and 22.7% of visitors had no recorded point of entry to the park.† Consider a random sample of 175 Rocky Mountain National Park visitors. Use the normal approximation of the binomial distribution to answer the following questions. (Round your answers to four decimal places.)
(a)
What is the probability that at least 85 visitors had a recorded entry through the Beaver Meadows park entrance?
(b)
What is the probability that at least 80 but less than 90 visitors had a recorded entry through the Beaver Meadows park entrance?
(c)
What is the probability that fewer than 11 visitors had a recorded entry through the Grand Lake park entrance?
(d)
What is the probability that more than 40 visitors have no recorded point of entry?
In: Statistics and Probability
Read the following brief regarding the Wet 'n Wild waterpark chain, and then answer the questions below to reflect on your reading.
Wet ‘n Wild is a chain of waterparks that are operated across Australia, the United States, and now China. The first waterpark in the chain was opened on the Gold Coast in Australia in 1984. Since that time they have expanded to eight locations, including Hawaii and Las Vegas. In 2013, they opened a new water park in Sydney, Australia. Despite Sydney being a major international city with a population of over 5 million, it does not have a major theme or amusement park. Therefore, the new Wet ‘n Wild facility was able to obtain a virtual monopoly in the Sydney area.
Obviously, Sydney is relatively well known for its famous beaches, including Bondi Beach. To counteract this indirect competitor, Wet ‘n Wild located their new waterpark around one hour inland, away from the beaches. This location was still within large residential areas and easily accessible by road. Because Sydney was lacking a major theme park, Wet ‘n Wild was able to attract significant publicity and media attention prior to opening, particularly as the park was promoted as “the largest waterpark in the world”. This was supported by significant advertising expenditure, which was primarily focused on selling season pass tickets.
The pricing structure for the new Wet ‘n Wild waterpark was designed to sell season passes, rather than individual visits. For example, a season pass cost $120 as compared to a one-day visit pass of $70. This meant that there was a significant incentive to buy the season pass. As a result, these season passes were enormously popular. The Christmas period in Australia is in the middle of summer, so these season passes became popular Christmas gifts as well.
As you can imagine, as consumers have paid for multiple visits – many of them want to get great “value for money”– which means as many visits as possible. As a consequence, the park become very crowded at times. On several occasions, in the middle of summer, the waterpark was at full capacity. That means that season pass holders, who had paid for their tickets, were unable to enter the park because it was full. The other contributing factor to this overcrowding situation was that Wet ‘n Wild was not open every day. Although their season ran from September to April (the warmer months in Australia), they were not open seven days a week – sometimes only being open on weekends.
With a waterpark operating at full capacity on a hot day, you can imagine that the lines were quite long and uncomfortable. It was not uncommon to wait 1½ to 2 hours for a waterslide. This resulted in significant customer dissatisfaction that was expressed through social media, including Wet n’ Wild’s own Facebook site.
In: Accounting