A taxi company has a small limousine at the local airport with a seating capacity of four that makes one trip per day to a predefined location. The cost of each seat to the taxi company is estimated at $5 per seat (empty seats still cost $5). The price per seat to the customer is $10. The number of reservation requests per day X is Poisson distributed with parameter A = 4 for x = 0,1,2... Assuming any reservation requests over four will go to rival limousine services (the reservation request becomes lost to this taxi company), find the expected net revenue. (Note: the limousine driver is still required to make the trip even if there are no customers to be seated). I can do the poison distribution, I need help with expected revenue please. p(x) 0.0183 0.07326 0.1465 0.1954 0.1953668149 2 3 4

A taxi company has a small limousine at the local airport with a seating capacity of four that makes one trip per day to a predefined location. The cost of each seat to the taxi company is estimated at $5 per seat (empty seats still cost $5). The price per seat to the customer is $10. The number of reservation requests per day X is Poisson distributed with parameter A = 4 for x = 0,1,2... Assuming any reservation requests over four will go to rival limousine services (the reservation request becomes lost to this taxi company), find the expected net revenue. (Note: the limousine driver is still required to make the trip even if there are no customers to be seated). I can do the poison distribution, I need help with expected revenue please. p(x) 0.0183 0.07326 0.1465 0.1954 0.1953668149 2 3 4

Name: A taxi company has a small limousine at thelocal airport with a seati
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Description: A taxi company has a small limousine at thelocal airport with a seating capacity of fourthat makes one trip per day to a predefinedlocation. The cost of each seat to the taxicompany is estimated at $5 per seat (emptyseats still cost $5). The price p

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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