This topic contains a solution. Click here to go to the answer

Author Question: Modern revenue management systems maximize revenue potential for an organization by helping to ... (Read 150 times)

stephzh

  • Hero Member
  • *****
  • Posts: 556
Modern revenue management systems maximize revenue potential for an organization by helping to manage
 a. pricing strategies.
  b. reservation policies.
  c. short-term supply decisions.
  d. All of the alternatives are correct.

Question 2

Nancy believes that the average running time of movies is equal to 140 minutes. A sample of four movies was taken, and the following running times were obtained. Assume the distribution of the population is normally distributed. 150 150 180 170
 a. State the null and alternative hypotheses.
  b. Using a critical value, test the hypothesis at the 10 level of significance.
  c. Using a p-value, test the hypothesis at the 10 level of significance.
  d. Using a confidence interval, test the hypothesis at the 10 level of significance.
  e. Could a Type II error have been committed in this hypothesis test?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

meow1234

  • Sr. Member
  • ****
  • Posts: 333
Answer to Question 1

D

Answer to Question 2

a. H0:  = 140
Ha:   140
b. Reject H0, 3 > 2.353 . There is sufficient evidence at  = .10 to conclude that the average running time of movies differs from 140 minutes.

c. The p-value is approximately equal to .06 . Reject H0; .06 < 0.1 (same conclusion as part b)
d. 144.85 to 180.15; reject H0 (same conclusion as part b)
e. A Type II error could not have been committed since H0 was rejected.




stephzh

  • Member
  • Posts: 556
Reply 2 on: Jun 24, 2018
:D TYSM


raili21

  • Member
  • Posts: 324
Reply 3 on: Yesterday
Excellent

 

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

The average adult has about 21 square feet of skin.

For a complete list of videos, visit our video library