The airline industry defines no-shows as passengers who have purchased a ticket but fail to arrive at the gate on time for departure.
Southwest Airlines operates many flights from Philadelphia to Dallas and experienced the following no-show probability distribution last year.No-shows 0 1 2 3 4 5 6Probability 6 12 22 28 17 11 4The following data represent the number of no-shows that occurred on a random sample of 120 flights between these two cities this year.No-shows 0 1 2 3 4 5 6Frequency 3 13 37 31 22 4 10Southwest Airlines would like to know if the probability distribution of no-shows has changed between last year and this year on flights between these two cities using = 0.05. The expected frequency of one no-show for this sample is ________.A) 5.0
B) 11.3
C) 14.4
D) 23.9
Q. 2The expected value under certainty (EVUC) provides us with an upper limit for how much we should pay for additional information to improve our decision.
Indicate whether the statement is true or false
Q. 3In Delaware, cars are inspected each year using state-operated inspection centers.
The Wilmington center has three drive-through lanes where cars are inspected in a sequence of steps and would like to test to determine if a difference exists in the median wait time between lanes. The following data show the number of minutes that a random sample of drivers spent waiting and having their cars inspected in the three lanes each day of the week.Lane 1 Lane 2 Lane 336 35 3719 30 2026 32 2338 49 3041 41 35The appropriate nonparametric procedure for this analysis is the _________________ test.A) Wilcoxon signed-rank
B) Kruskal-Wallis
C) Wilcoxon rank-sum
D) sign
Q. 4The expected value under risk (EVUR) is the expected monetary value that corresponds to the best alternative when making a decision under risk.
Indicate whether the statement is true or false
Q. 5The expected monetary value (EMV) is the average of the payoffs associated with a particular alternative weighted with the probabilities for each state of nature.
Indicate whether the statement is true or false
Q. 6AutoTrader.com would like to test if a difference exists in the median age of three different types of vehicles currently on the road--trucks, cars, and vans. The following data represent the age of a random sample of trucks, cars, and vans.
Trucks Cars Vans12 8 38 7 79 10 611 7 8The test statistic for this hypothesis test is ________.A) 3.55
B) 4.36
C) 5.11
D) 6.04
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