Exhibit 12.4.
The following questions use the information below.
The manager of a Washington, DC sightseeing tour company is concerned about overbooking for one of his bus tours. The bus has 15 seats but sometimes there are empty seats. His records show that about 20% of ticket holders do not show up for their tour. Tickets cost $10 and are non-refundable. If the manager overbooks the tour and more than 15 passengers show up, some of them will be bumped to a later tour. This bumping costs the company $25 in various expenses to keep the customer happy until the next tour. The manager wants to see what happens to profits if 18 reservations are accepted.
-Using the information in Exhibit 12.4, what Analytic Solver Platform function should be used in cell C10 to determine the number of Passengers to Board?
A) =PsiBinomial($C$8, 1-$C$6)
B) =PsiBinomial(1-$C$6, $C$8)
C) =PsiBinomial($C$8, $C$6)
D) =PsiBinomial($C$6, $C$8)

Question

Exhibit 12.4.
The following questions use the information below.
The manager of a Washington, DC sightseeing tour company is concerned about overbooking for one of his bus tours. The bus has 15 seats but sometimes there are empty seats. His records show that about 20% of ticket holders do not show up for their tour. Tickets cost $10 and are non-refundable. If the manager overbooks the tour and more than 15 passengers show up, some of them will be bumped to a later tour. This bumping costs the company $25 in various expenses to keep the customer happy until the next tour. The manager wants to see what happens to profits if 18 reservations are accepted. 
-Using the information in Exhibit 12.4, what Analytic Solver Platform function should be used in cell C10 to determine the number of Passengers to Board?
A) =PsiBinomial($C$8, 1-$C$6) 
B) =PsiBinomial(1-$C$6, $C$8) 
C) =PsiBinomial($C$8, $C$6) 
D) =PsiBinomial($C$6, $C$8)

Quizplus · Accepted Answer

The Answer of Exhibit 12.4.
The following questions use the information below.
The manager of a Washington, DC sightseeing tour company is concerned about overbooking for one of his bus tours. The bus has 15 seats but sometimes there are empty seats. His records show that about 20% of ticket holders do not show up for their tour. Tickets cost $10 and are non-refundable. If the manager overbooks the tour and more than 15 passengers show up, some of them will be bumped to a later tour. This bumping costs the company $25 in various expenses to keep the customer happy until the next tour. The manager wants to see what happens to profits if 18 reservations are accepted. 
-Using the information in Exhibit 12.4, what Analytic Solver Platform function should be used in cell C10 to determine the number of Passengers to Board?
A) =PsiBinomial($C$8, 1-$C$6) 
B) =PsiBinomial(1-$C$6, $C$8) 
C) =PsiBinomial($C$8, $C$6) 
D) =PsiBinomial($C$6, $C$8)

Exhibit 12.4. The Following Questions Use the Information Below