No-shows An airline offers discounted “advance-purchase” fares to customers who buy tickets more than 30 days before travel and charges “regular” fares fortickets purchased during those last 30 days. The companyhas noticed that 60% of its customers take advantage ofthe advance-purchase fares. The “no-show” rate amongpeople who paid regular fares is 30%, but only 5% ofcustomers with advance-purchase tickets are no-shows.a) What percent of all ticket holders are no-shows?b) What’s the probability that a customer who didn’tshow had an advance-purchase ticket?c) Is being a no-show independent of the type of ticket apassenger holds? Explain.
No-shows An airline offers discounted “advance-purchase” fares to customers who buy tickets more than 30 days before travel and charges “regular” fares fortickets purchased during those last 30 days. The companyhas noticed that 60% of its customers take advantage ofthe advance-purchase fares. The “no-show” rate amongpeople who paid regular fares is 30%, but only 5% ofcustomers with advance-purchase tickets are no-shows.a) What percent of all ticket holders are no-shows?b) What’s the probability that a customer who didn’tshow had an advance-purchase ticket?c) Is being a no-show independent of the type of ticket apassenger holds? Explain.
Elementary Linear Algebra (MindTap Course List)
8th Edition
ISBN:9781305658004
Author:Ron Larson
Publisher:Ron Larson
Chapter2: Matrices
Section2.5: Markov Chain
Problem 11E: Purchase of a product The market research department at a manufacturing plant determines that 20 of...
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No-shows An airline offers discounted “advance-
purchase” fares to customers who buy tickets more than
purchase” fares to customers who buy tickets more than
30 days before travel and charges “regular” fares for
tickets purchased during those last 30 days. The company
has noticed that 60% of its customers take advantage of
the advance-purchase fares. The “no-show” rate among
people who paid regular fares is 30%, but only 5% of
customers with advance-purchase tickets are no-shows.
a) What percent of all ticket holders are no-shows?
b) What’s the probability that a customer who didn’t
show had an advance-purchase ticket?
c) Is being a no-show independent of the type of ticket a
passenger holds? Explain.
tickets purchased during those last 30 days. The company
has noticed that 60% of its customers take advantage of
the advance-purchase fares. The “no-show” rate among
people who paid regular fares is 30%, but only 5% of
customers with advance-purchase tickets are no-shows.
a) What percent of all ticket holders are no-shows?
b) What’s the probability that a customer who didn’t
show had an advance-purchase ticket?
c) Is being a no-show independent of the type of ticket a
passenger holds? Explain.
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