Take this job and... Given the employment scenario described in the previous Mindscape, suppose that the companies do not consult one another about offers, so you may receive more than one offer. Suppose the first comp any calls you on the phone, offers you the job, and says you have to accept or reject it right there on the spot. You have not heard from either of the other companies yet. Do you accept or reject the offer? What if the call were from the second company? What if it were the third company? Justify your answers using expected value.
Take this job and... Given the employment scenario described in the previous Mindscape, suppose that the companies do not consult one another about offers, so you may receive more than one offer. Suppose the first comp any calls you on the phone, offers you the job, and says you have to accept or reject it right there on the spot. You have not heard from either of the other companies yet. Do you accept or reject the offer? What if the call were from the second company? What if it were the third company? Justify your answers using expected value.
Take this job and... Given the employment scenario described in the previous Mindscape, suppose that the companies do not consult one another about offers, so you may receive more than one offer. Suppose the first comp any calls you on the phone, offers you the job, and says you have to accept or reject it right there on the spot. You have not heard from either of the other companies yet. Do you accept or reject the offer? What if the call were from the second company? What if it were the third company? Justify your answers using expected value.
Suppose you are the manager of two beachfront
hotels : The Palms and Golden Sands. You'd like
to know if there is a difference in guest satisfaction
between the two hotels. To investigate this, you
conduct a survey and ask guests upon departure if
they are likely to return to the hotel in the future.
For The Palms, 163 out of 227 guests who were
surveyed responded " yes ". For Golden Sands,
154 out of 262 guests responded "yes ". Answer
the following questions. Round any numbers in
your final answers to 2 decimals.
1) Calculate a 95 % confidence interval for the
difference in satisfaction rates between The Palms
and Golden Sands (Show work)
2) Use the critical value approach to test, at a 1%
significance level, whether or not the guest
satisfaction rates are different between the two
hotels. What do you conclude ? (In your answer,
show the steps involved with testing)
3) What is the p-value of your test in part 2?
No need for thorough Explanation.
The research department of a five-star hotel conducted a survey. It found that among 2230 guests, 1540 tip the front desk officers, 1192 tip the bellboys, 938 tip the maids, 250 tip the maids and the bellboys, 710 tip the front desk officers and the maids, 735 tip the front desk officers and the bellboys, 195 tip all the three personnel.
How many of the surveyed guests tip exactly two of the three services?
How many of the surveyed guests tip only the front desk officers?
How many of the surveyed guests tip only the three services?
How many of the guests do not give tip to any of the services?
How many of the surveyed guests tip at least two of the three services?
Chapter 10 Solutions
The Heart of Mathematics: An Invitation to Effective Thinking
Differential Equations: An Introduction to Modern Methods and Applications
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