Question

8. At a hotel the rooms are priced at varying levels so we let the random variable x = price(in $)of a hotel room. The probability distribution for each price is listed below. Find the mean for x and INTERPRET the answer

X P(x)

100 .6

150 .3

300 .1

Find the mean for x and INTERPRET the answer:

(8) 9. Airlines overbook flights to increase their revenue by selling seats of people who do not show up for a flight. On a particular flight there is a 4% chance a ticket purchased will not be used.

If we let the random variable x = ticket being USED and we sell 190 tickets find the mean and standard deviation for x

mean = _____________________ standard deviation = _________________

Answer 1

Solution:

Question 8)

Given:

x = price(in $)of a hotel room.

Find mean of x.

x	P(x)	x*P(x)
100	0.6	60
150	0.3	45
300	0.1	30

thus mean is:

Mean price of a hotel room is $135.

Question 9)

Given:

x = ticket being USED

On a particular flight there is a 4% chance a ticket purchased will not be used.

then

p = probability of ticket being USED = 100% - 4%=96% = 0.96

n = 190

Mean = n * p

Mean = 190 * 0.96

Mean = 182.4

( Round final answer to specified number of decimal places)