1. For each of the following, define the random variable using words, tell what kind of distribution each has, and calculate the probabilities. Every day when Sally drives to school, she has a 70% chance of not finding a parking spot in the closest lot to her classroom (otherwise, she finds a spot). Each day is independent, meaning that finding a spot on one day doesn’t change the probability of finding a spot on any other day.
(a) (3 points) What is the probability that the tenth day is the fifth day that she gets a spot in the closest lot?
(b) (3 points) What is the probability that the tenth day is the first day that she gets a spot in the closest lot?
(c) (3 points) What is the probability that the she gets to park in the closest lot in 5 out of the next 10 days?
(d) (3 points) If she parks in the close lot at least 3 times in a week (5 days), she will treat herself to ice cream. What is the probability that she gets ice cream?
In: Statistics and Probability
Coffee is a leading export from several developing countries. When coffee prices are high, farmers often clear forest to plant more coffee trees. Here are data on prices paid to coffee growers in Indonesia and the rate of deforestation in a national park that lies in a coffee-producing region for five years: Price(cents per pound) Deforestation (percent) 29 0.49 40 1.59 54 1.69 55 1.82 72 3.10 (a) Make a scatterplot. What is the explanatory variable? What kind of pattern does your plot show? (b) Find the correlation r step-by-step. That is, find the mean and standard deviation of the two variables. Then find the five standardized values for each variable and use the formula for r.
Explain how your value for r matches your graph in (a). (c) Now enter these data into your calculator or Excel and use the correlation function to find r. Check that you get the same result as in (b). PLEASE, GIVE A DETAILED SOLUTION. THANK YOU IN ADVANCE!
In: Statistics and Probability
Text exercise 39 page 638. This question uses the same data as exercise 2 above, and the data is in the accompanying spreadsheet.
(a) Estimate the regression in Excel and report the regression line. [2 pts]
(b) Calculate a 95% confidence interval for the forecast of the average amount spent on entertainment at a city where the room rate is $89. [3 pts]
(b) Calculate a 90% confidence interval for the forecast of the idiosyncratic amount spent on entertainment at a city where the room rate is the average rate of $128. [3 pts]
(d) Use a t-test to test the hypothesis that there is a 1 to 1 relationship between entertainment expenses and hotel expenses. (ie test H0: β=1)
DATA:
| Data for Problem 39 p638 | |||
| city | room rate | Entertainment | |
| Boston | 148 | 161 | |
| Denver | 96 | 105 | |
| Nashville | 91 | 101 | |
| New Orleans | 110 | 142 | |
| Phoenix | 90 | 100 | |
| San Fdiego | 102 | 120 | |
| San Francisco | 136 | 167 | |
| San Jose | 90 | 140 | |
| Tampa | 82 | 98 | |
In: Statistics and Probability
[The following information applies to the questions displayed below.] The following data pertain to the Aquarius Hotel Supply Company for the year just ended. Budgeted sales revenue
|
Budgeted sales revenue |
$ |
200,000 |
|
Budgeted manufacturing overhead |
364,000 |
|
|
Budgeted machine hours (based on practical capacity) |
10,000 |
|
|
Budgeted direct-labor hours (based on practical capacity) |
20,000 |
|
|
Budgeted direct-labor rate per hour |
13 |
|
|
Actual manufacturing overhead |
338,000 |
|
|
Actual machine hours |
11,000 |
|
|
Actual direct-labor hours |
18,000 |
|
|
Actual direct-labor rate per hour |
17 |
Required: 1. Compute the firm’s predetermined overhead rate for the year using each of the following common cost drivers: a. machine hours b. direct labor hours c. direct labor dollars
2. Calculate the overapplied or underapplied overhead for the year using each of the following cost drivers. a. machine hours b. direct labor hours c. direct labor dollars
In: Accounting
Forecasting Exercise Every year the U of I hosts the Lionel Hampton Jazz Festival. Below you will find some issues that need to be forecast in order to provide the best experience possible to customers, develop effective plans, and deliver "profits" to businesses. How many schools (and students) will be attending? How many will attend Saturday night’s concert? (Lionel Hampton Jazz Festival Big Band) What will be room availability in Lewiston because of the festival? What should I charge for my hotel rooms during the busy weekend? Is there a threshold? How much more should Casa Lopez be ordering for Thursday, Friday, and Saturday? What will the economic impact be to the city of Moscow? Select two or three and write a double-spaced paper telling what you forecasted and how you came up with the forecast you made – discuss the mechanics of how you would develop your forecasts. The specific numbers are not as important as demonstrating a well thought out approach to your forecast.
In: Operations Management
Recently, the power of cloning to rescue endangered or extinct species was demonstrated by applying nuclear transfer methods to save the mouflon, a species of wild sheep (left half of figure). This result piqued a fair amount of general interest, because of its possible implications for the return of other, more exotic, species from the jaws of extinction (as pictured on the right). Suppose a wealthy investor came to you with a proposal to create a real-life Jurassic Park (naturally, with far more detailed strategy to contain the animals), asking for your scientific analysis of their plan to use SCNT to bring back dinosaurs.
a. Considering all of the materials and technical steps involved in the process of nuclear transfer, list three problems you envision will be encountered by their team of scientists.
b. Speculate on how a researcher might overcome each of the obstacles you identified in (a), or state why you feel they may be insurmountable.
c. Given your analysis in (a) and (b), briefly comment on whether you think that the wealthy investor’s plan is feasible.
In: Biology
The Marriott company (Marriott: Reducing Our Footprint) makes the following claim about its "sustainability strategy":
Our sustainability strategy supports business growth and reaches beyond the doors of our hotels to preserve and protect our planet’s natural resources. Marriott’s environmental goals are to:
• Further reduce energy and water consumption 20% by 2020
(Energy 20 percent per kWh/conditioned m2; Water 20 percent per
occupied room (POR). Baseline: 2007);
• Empower our hotel development partners to build green
hotels;
• Green our multi-billion dollar supply chain;
• Educate and inspire associates and guests to conserve and
preserve;
Address environmental challenges through innovative conservation initiatives including rainforest protection and water conservation.
Find statements from two other companies that detail their environmental; policy/sustainability strategy. Summarize those statements. Critically evaluate the policies/strategies - Are they good policies/strategies? Will they truly help the environment?
In: Operations Management
Identify the UCS, UCR, CS, and CR in the following examples:
|
UCS |
UCR |
CS |
CR |
|
|
1. Jamie was talked into riding on the roller coaster when she was 12. The ride absolutely terrified her. Now whenever she goes to the amusement park, she breaks into a cold sweat if she even looks at the roller coaster |
||||
|
2. Kim was sick all night after eating a bad fried oyster. Now, she says, the smell of ANYTHING frying makes her feel nauseated. |
||||
|
3. Sinbad was frightened when a barking spaniel lunged at the fence as Sinbad walked by. The next day, when Sinbad’s mother started to lead him by the house where the spaniel lives, Sinbad began to tremble and whimper. |
||||
|
4. Lassie drools whenever she hears the can opener. |
||||
|
5. Makoto was stung by a bee in the garden. Now, whenever he hears a buzzing sound, he starts to tremble. |
||||
|
6. Just smelling his girlfriend’s perfume makes Romeo feel happy and relaxed. |
In: Psychology
For this assignment, you play the role of an marketing analyst for an online travel site called GlobalTrekTravel (GTT, a fictitious online business used for this course). GTT is focused on international travelers and provides online booking tools for airfare, ground transportation, hotel and sight-seeing tours, travel insurance, language support with translation services, passport and visa document preparation, and medical immunization recommendations. In sum, GTT addresses all needs of an international business or holiday travelers to have successful journeys. GTT’s marketing focuses on this value proposition: “We give you integrated travel services for all your International business and personal travel needs, saving time and frustration. We stay current to the world’s everchanging travel conditions, reducing your travel stressors.”
Your objective is to help them better understand their customers and find ways to use digital channels and data to serve their needs. They are seeking a customer journey analysis, that will allow them to take appropriate action.
In: Operations Management
The Marriott company (Marriott: Reducing Our Footprint) makes the following claim about its "sustainability strategy":
Our sustainability strategy supports business growth and reaches beyond the doors of our hotels to preserve and protect our planet’s natural resources. Marriott’s environmental goals are to:
• Further reduce energy and water consumption 20% by 2020
(Energy 20 percent per kWh/conditioned m2; Water 20 percent per
occupied room (POR). Baseline: 2007);
• Empower our hotel development partners to build green
hotels;
• Green our multi-billion dollar supply chain;
• Educate and inspire associates and guests to conserve and
preserve;
Address environmental challenges through innovative conservation initiatives including rainforest protection and water conservation.
Find statements from two other companies that detail their environmental; policy/sustainability strategy. Summarize those statements. Critically evaluate the policies/strategies - Are they good policies/strategies? Will they truly help the environment?
In: Operations Management