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marysya [2.9K]
2 years ago
6

Due to customer no-shows, the Inn at Charlotte hotel is considering implementing overbooking. The Inn at Charlotte has 150 rooms

, and the full fare is $200. The forecast of no-shows is normally distributed with a mean of 10 and a standard deviation of 3. The Inn is sensitive about the quality of service, so it estimates that cost of failing to honor a reservation is $325 in lost goodwill and explicit expenses. What is the unit underage cost if the Inn underestimates the number of no-shows
Business
1 answer:
kirill [66]2 years ago
8 0

Answer:

The unit=9

Explanation:

The Cost of underage Cu= price -cost =200-0 =200 ( as there is no variable cost of the unsold room)

Cost of overage Co= cost - salvage value = 0 -(-325) =325

Service level = Cu / Cu+Co = 200/ 325+200 = 0.3809

which corresponds to the z value of -0.3

the optimum overbooking = mean + z x SD

= 10+ 3 x (-0.3) =9

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The Albertville City Council decided to pool the investments of its General Fund with Albertville Schools and Richwood Township
olasank [31]

Answer: A1 City of Albertville journal Investment trust fund Dr 915,000

Investment Cr. 915,000

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A2.Albertville School journal

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Narration. Transfer of investment to

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A3.Rich Township Journal

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4 0
2 years ago
Data were collected in twenty major urban areas on the percent of women in the labor force. Data were collected in 1968 and agai
garri49 [273]

Answer: Matched pairs design

Explanation:

A matched pairs design is a type of study used when 2 treaments are present in an experiment. The individuals in the design can be divided into pairs using a blocking variable, and each pair can then be allocated to treatments at random. This is thus a special type of randomized block design.

In this case the blocking variable can be the various urban areas as 1968 is matched against 1972. Each city can be compared based on 2 measurements. From their each individual can be grouped into pairs and allocated to different treatments.

6 0
2 years ago
Which of the following is an example of a variable expense?
Irina-Kira [14]

Answer:

Credit card and bank fees. Hourly wages and direct labor. Shipping costs. Raw materials.

Explanation:

8 0
2 years ago
Brands enable customers to quickly differentiate one firm or product from another. true or false
Charra [1.4K]
True. Brands enable customers to quickly differentiate one firm or product from another. Brands create this through brand awareness, which is making consumers aware of their brand. Brand awareness is created through name, slogan, logo, packaging and more. 
6 0
2 years ago
Burrito King (a new fast-food franchise opening up nationwide) has successfully automated burrito production for its drive-up fa
bezimeni [28]

Answer:

(A)0.6600 (B) 1.325 (C) 0.997 or 1 minute

Explanation:

Solution

Given that:

The constant rate = 30 seconds

The arrival rate according to Poisson distribution is = 45 seconds

Now,

(A) We solve for the average length line of cars

The formula is given below:

Lq = λ²/ 2μ ( μ -λ)

Here,

λ = this is the mean time of arrival rate

μ = This is the mean service rate

Thus we compute for the mean time arrival rate which is given below:

The mean arrival rate λ = arrival rate/ 60 seconds

= 60/45

= 1.33 customer per minute

Then we solve for the means service rate which is given below

The mean service rate μ = 60 seconds/ mean rate

= 60/30 = 2 customer per minute

We will now solve for the average line length in cars which is shown below:

Lq = λ²/ 2μ ( μ -λ)

Lq = 1.33²/2*2 (2-1.33)

Lq = 1.7689/4 (0.67)

Lq = 1.7689/2.68

Lq = 0.6600

Therefore the average length in line for cars is 0.6600 cars

(B) We solve for the average number of cars in the system

Ls =Lq + λ /μ

Ls =0.600 + 1.33/2

Ls =0.6600 + 0.665

Ls = 1.325

(C) Finally we need to find the expected average time in the system which is shown below:

Ws = Ls/λ

Ws= 1.325/1.33 = 0.997 or 1.00

The expected time average  in the system is 0.997 or 1.00 minutes.

3 0
2 years ago
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