Project 1 - OO Programming

Create a program that simulates cars racing and allows users to bet on the races ( start users with $100 )

In main, prompt the user to enter details needed to create 2 instances of the Car class you create.

Ask the user to bet on which car will win the race ( use the overridden << method to display car details ), ensure the bet is between 1 and the amount of money the user has currently.

Create a Car class that has attributes for name, make, model, quarter mile time, and max speed.

( You can reference https://www.0-60specs.com/0-60-times/ - or just make values up )

Add a method Race that accepts a reference to another instance of car for the car to race.

When racing, add a random -1.0 - 1.0 second adjustment to the quarter mile time to account for wind and other conditions.

return a string result that says which car wins the race and by how much time.

Display the results of the bet and the users new balance.

Allow the user to keep creating cars to race until they are done or out of money.

Question 37

1. A monopolist maximizes profits by

   	a.	producing an output level where marginal revenue equals marginal cost.
   	b.	charging a price equal to marginal revenue and marginal cost.
   	c.	charging a price where marginal cost equals average total cost.
   	d.	Both a and b are correct.

Question 38

1. A monopoly is an inefficient way to produce a product because

   	a.	it faces a downward-sloping demand curve.
   	b.	it can earn both short-run and long-run profits.
   	c.	the cost to the monopolist of producing one more unit exceeds the value of that unit to potential buyers.
   	d.	it produces a smaller level of output than would be produced in a competitive market.

Question 39

1. A movie theater can increase its profits through price discrimination by charging a higher price to adults and a lower price to children if it

   	a.	can prevent children from buying the lower-priced tickets and selling them to adults.
   	b.	has some degree of monopoly pricing power.
   	c.	can easily distinguish between the two groups of customers.
   	d.	All of the above are correct.

You and your closest friends have decided to go to see a private screening of a movie at a local movie theater where you can be socially distant. Friends will be added to the queue after their names are input by the user. Because of current restrictions, the queue (line) for tickets can only have a capacity of 7 people.

Write a Java program using a Queue (of size 7) that will display a menu:

1) add person to line

2) remove person from line

When (1) is chosen the user will be prompted to input the friend's name. Note that you must not add another person to the queue until there is an available space for them (you will need to check if the queue is full before adding people.) If there are already 7 people in the queue the program will output that "the line is full please try again later."

When (2) is chosen the person at the head/front of the queue is removed.

After each person is added or removed from the queue, output the contents of the queue and the name of the person at the head of the queue. The program will end after the removal of a person leaves the queue empty.

MUST BE JAVA. please include menu for queue operations.

Customers arrive at a movie theater at the advertised movie time only to find that they have to sit through several previews and pre-preview ads before the movie starts. Many complain that the time devoted to previews is too long.† A preliminary sample conducted by The Wall Street Journal showed that the standard deviation of the amount of time devoted to previews was 6 minutes. Use that as a planning value for the standard deviation in answering the following questions. (Round your answers up to the nearest whole number.)

(a)

If we want to estimate the population mean time for previews at movie theaters with a margin of error of 105 seconds, what sample size should be used? Assume 95% confidence.

(b)

If we want to estimate the population mean time for previews at movie theaters with a margin of error of 1 minute, what sample size should be used? Assume 95% confidence.

-You may need to use the appropriate appendix table or technology to answer this question.

How large a sample should be selected to provide a 95% confidence interval with a margin of error of 10? Assume that the population standard deviation is 50. (Round your answer up to the nearest whole number.)

Companies can use three strategies to lower their breakeven point: 1. Increase selling price; 2. Decrease variable costs; 3. Decrease fixed costs. Thinking in terms of cost structure and breakeven point, explain how a movie theater might respond to a negative demand shock (a sudden significant drop in demand as a result of external events) such as happened after the September 11^th attack on the World Trade Center, Superstorm Sandy, etc.

• Your answer must specifically address each of the three strategies outlined above, and assess whether or not that strategy would be successful. (6 points)
  • BE SPECIFIC. You must indicate exactly how you would raise selling price or which specific variable/fixed costs you are recommending that the company decrease. While you may look at online sources to learn more about the industry, DO NOT copy information without providing proper citations. Also, you must include original information; do not rely solely on online sources.
• Finally, you must make a recommendation as to the best strategy, explaining why you chose it.

a) The 10 members of the committee have to choose one president and two vice presidents (these have to be three different people). In how many ways can they choose these officers? (Note: here is no distinction between the two vice presidents; there is not a “first” VP and a “second” VP).

b) Three couples go to a movie theater. They sit in consecutive seats such that each couple is seating together, that is each person is seating next to his/her partner. If there are 6 seats available, in how many ways can they sit?

c) A university wants to assign a three digit number to each classroom of a new building. They can use the digits {1,2,3,4,5} but they cannot use any digit more than once. How many classroom numbers can they assign if the numbers have to be less than 250?

d) The University wants to select 4 students for a feedback survey. They want all four students from either Prof. X’s section or Prof. Y’s section. Prof. X has 40 students in his class and Prof. Y has 30 students in his class. How many selections are possible?

You are given the sample mean and the population standard deviation. Use this information to construct the​ 90% and​ 95% confidence intervals for the population mean. Interpret the results and compare the widths of the confidence intervals. If​ convenient, use technology to construct the confidence intervals. A random sample of 40 home theater systems has a mean price of ​$129.00. Assume the population standard deviation is ​$16.60.

Interpret the results. Choose the correct answer below.

A. With​ 90% confidence, it can be said that the population mean price lies in the first interval. With​ 95% confidence, it can be said that the population mean price lies in the second interval. The​ 95% confidence interval is narrower than the​ 90%.

B. With​ 90% confidence, it can be said that the sample mean price lies in the first interval. With​ 95% confidence, it can be said that the sample mean price lies in the second interval. The​ 95% confidence interval is wider than the​ 90%.

C. With​ 90% confidence, it can be said that the population mean price lies in the first interval. With​ 95% confidence, it can be said that the population mean price lies in the second interval. The​ 95% confidence interval is wider than the​ 90%.

Joseph Biggs owns his own ice cream truck an drives 30 miles from a florida beach resort. The sale of his products is higly dependent oh his location and on the weather. At the resort, his profit will be $120 per day in fair weather, $10 per day in bad weather. At home, his profit will be $70 in fair weather and $55 in bad weather. Assume that on any particular day, the weather service suggests a 40% chance of foul weather.

A) Construct Joseph's decision tree.

B) What is the decision recommended bat the expected value criterion?

Spartan utilities distributes natural gas to households in South-West Michigan. Spartan has 25,000 miles of retail gas distribution pipelines. The distribution pipelines sometimes develop leaks due to weather conditions and corrosion. Spartan estimates that the probability of a gas pipeline developing a leak is 0.0002/year/mile of pipeline. Spartan also estimates that an average leaking pipe incident results in $10,000 in repair costs, $5,000 in natural gas lost, $8,000 in compensation to affected parties, $2,000 in other costs such as evacuation, fire safety, public notification etc. Further, the disruption in service results in loss of sales of $20,000 on which Spartan would have earned profits of $4000.

a. Estimate the expected annual cost to Spartan of such leakage.

b. Suppose an insurance company offer to cover all costs of such leaks except lost sales/profits. The premium is $130,000. Should Spartan utilities buy the insurance?

c. What other risk management options can Spartan consider in managing this risk?

Engineers are testing company fleet vehicle fuel economy (miles per gallon) performance by using different types of fuel. One vehicle of each size is tested. Does this sample provide sufficient evidence to conclude that there is a significant difference in treatment means?

state null and alternative hypotheses, critical value, test statistic and make TWO definitive conclusion statements.