17. An agency is booking four groups, each of which would give one performance on a particular day. Because of the local preferences of the people, the agency is expecting different audience sizes for different groups. Five major cities are under consideration of the agency. Considering the estimates of sales of tickets likely to be made, what group-city combination would you advise? (Estimated sale of tickets ('000 *)) City Group C4 Cs G G2 G3 G. 58 56 21 50 45 16 34 18 25 15 39 44 30 64 36 82 102 71 110 73
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- This question builds on your work from B-1. Competition is fierce for the Chicago to Atlanta route, and the airline realizes that it may need to reduce the current ticket price. They ask you to provide projections for number of reservations, number of denied passenger check ins (due to overbooking), penalties, sales, net income, and profit margin for this route at different ticket prices. The average number of reservations for this route is 184 when the ticket price is $420, use those figures as a base for your calculations. The airline conducted a price sensitivity analysis and determined that for every $20 increase in ticket price, demand will decrease by 1 ticket reservation. Similarly, ticket sales will increase by 1 reservation for every $20 decrease in ticket price. Using an appropriate data table, calculate the number of reservations, number of passengers denied check ins (due to overbooking), total penalties, total sales, net income, and profit margin (as a percentage) for…Basic Sampling. You are employed by Northeast Airlines and have been asked to determinethe rate of on-time arrivals for competing airlines at a proposed hub location. Northeast isknown for its outstanding customer service and constantly ranks in the top three among allairlines in on-time arrivals with an average rate of 82 percent of all flights.Because it would be a new entrant in this particular airport, Northeast does not believe itcan compete unless its on-time arrival rate can surpass that of the airlines currently serving thishub. Because each of the four major competitors has hundreds of flights arriving at the hub ona daily basis, you are considering the use of sampling to estimate an on-time arrival rate.Required:a. Define sampling. What are the primary advantages and primary disadvantages of usingsampling in this application?b. Briefly describe how you would identify the population of flights from which you intendto sample.c. Define sampling risk and nonsampling risk. Provide…Suppose that a sales force has found 20 qualified buyers and has begun the salesprocess. The sales manager estimates that 10% eventually proceeds to make a purchase.Assume that a professional company offers three services, priced at $2,000, $7,000 and$20,000, respectively. Based on past results or the sales manager’s estimates, you projectthat 60% of first-time buyers will choose the cheapest option, 30% will choose the middleoption and 10% will choose the most expensive option. b. How many qualified buyers must be found in order for the company to generate $80,000 in sales in a given period? Your final answer must be rounded to the nearest wholenumber.
- The International Air Transport Association surveys business travelers to develop quality ratings for transatlantic gateway airports. The maximum possible rating is 10. Suppose a simple random sample of 50 business travelers is selected and each traveler is asked to provide a rating for the Miami International Airport. The ratings obtained from the sample of 50 business travelers follow. Develop a 95% confidence interval estimate of the population mean rating for Miami.Stubs-R-Us is a local event ticket broker. Last year, the company sold 760,000 tickets with an average commission of $10. Because of the general economic climate, Stubs expects ticket volume to decline by 20 percent. In addition, employees at a local insurance company headquarters accounted for 5 percent of Stubs’ volume. The headquarters relocated to another state and all the employees closed their accounts. Offsetting these factors is the observation that the average commission per sale is likely to increase by 15 percent because the average ticket prices are expected to be larger in the coming year. Required: Estimate commission revenues for Stubs-R-Us for the coming year.The International Air Transport Association surveys business travelers to develop quality ratings for transatlantic gateway airports. The maximum possible rating is 10. Suppose a simple random sample of 50 business travelers is selected and each traveler is asked to provide a rating for the Miami International Airport. The ratings obtained from the sample of 50 business travelers follow. 1 5 6 7 8 8 8 9 9 9 9 10 3 4 5 5 7 6 8 9 10 5 4 6 5 7 3 1 9 8 8 9 9 10 7 6 4 8 10 2 5 1 8 6 9 6 8 8 10 10 Develop a confidence interval estimate of the population mean rating for Miami. Round your answers to two decimal places.
- You are the revenue manager for the UCF athletic department. The ticket sale model that is used to price UCF football tickets is a dynamic pricing model, which means ticket prices adjust to supply and demand. Your group ticket manager contacts you and says that he has a large group that is requesting a group rate for 50 tickets for 3 games (150 total). Traditionally, the tickets that the group is requesting would sell for $100 each. You know that you could sell 70 tickets but cannot be sure about the other 80 seats. This means that the displaced contribution would have be $5,600 (70 x $80). The group will make other revenue contributions by spending $1,500 in concessions. Thus, making the total displacement contribution needed $4,100. The variable cost on each ticket is $20. What is the minimum price you could sell these tickets for? Contribution Margin = Ticket price - Variable costs O $100 O None of these answers are correct O $50.01 O $10.99 O $27.33Consumer complaints are frequently reported to the Better Business Bureau. Industries with the most complaints to the Better Business Bureau are often banks, cable and satellite television companies, collection agencies, cellular phone providers, and new car dealerships. The results for a sample of 200 complaints are in the file BBB. a. Show the frequency and percent frequency of complaints by industry. b. Which industry had the highest number of complaints? c. Comment on the percentage frequency distribution for complaints.The marketing department is considering a shift to internet-based advertising The advertising rates and demographics of several diflerent options are shown below. The marketing campaign goal is to reach the following audiences Age 18 to25−1,000,000inpressions Age 26 to35−1,500,000impressions Age 36 to45−750,000impressions What ino of advertising investment wat be most economical while stall meeting the gools? Note. Round your enswer to the nesrent whole number value.
- The members of the city cultural center have decided to put on a play once a night for a week. Their auditorium holds 600 people. By selling tickets, the members would like to raise $2,700 every night to cover all expenses. Let d represent the number of adult tickets sold at $6.50. Let s represent the number of student tickets sold at $3.50 each. If all 600 seats are filled for a performance, how many of each type of ticket must have been sold for the members to raise exactly $2,700? At one performance there were two times as many student tickets sold as adult tickets. If there were 360 tickets sold at that performance, how much below the goal of $2,700 did ticket sales fall?[The following information applies to the questions displayed below.] The Hartford Symphony Guild is planning its annual dinner-dance. The dinner-dance committee has assembled the following expected costs for the event: Dinner (per person) $ 23 Favors and program (per person) $ 4 Band $ 780 Rental of ballroom $ 390 Professional entertainment during intermission $ 260 Tickets and advertising $ 1,170 The committee members would like to charge $40 per person for the evening’s activities. Required: 1. What is the break-even point for the dinner-dance (in terms of the number of persons who must attend)? 2. Assume that last year only 100 persons attended the dinner-dance. If the same number attend this year, what price per ticket must be charged in order to break even? (Round your answer to the nearest whole dollar amount.) 1. Break-even point persons 2. Ticket price per person to break evenA retailer is deciding on the location for a new call center and has narrowed its choices down to four states, each of which has an empty mall that can be purchased and converted into an office workspace. The cost of the mall and the unit cost of each call, based on the prevailing labor and energy costs in each state, appear in the table. State Building Cost ($) Call Cost ($/call) Oklahoma 7,500,000 6 Louisiana 12,250,000 5 Arkansas 18,500,000 4 Tennessee 27,000,000 3 The CEO is from Oklahoma and wants to remain in state regardless of the cost. They believe the actual call volume will be 6 million. How much money will their decision cost the company? a. $1,500,000 b. $1,250,000 c. $0 d. $2,750,000