Due Thu 09/28/2017 11:59 pm score on last attempt: 2 out of 3 score in gradebook

Question

Due Thu 09/28/2017 11:59 pm score on last attempt: 2 out of 3 score in gradebook: 2 out of 3 Reattempt last question below, or select another question 2.38 Baggage fees: An airline charges the following baggage fees: S30 for the first bag and $40 for the second. Suppose 50% of passengers have no checked luggage, 34% have only one piece of checked luggage and 16% have two pieces. We suppose a negligible portion of people check more than two bags. a) The avernge bagasonger s 41 (please round to the nearest cent) b) The standard deviation of baggage-related revenue is: S 8 c) About how much revenue should the airline expect for a flight of 140 passengers? S 2996 (please roumd to the nearest dollar (please round to the nearest cent) License Points possible: 3 Unlimited attempts. Score on last attempt: 2. Score in gradebook: 2

Explanation / Answer

b. The standard deviation of baggage related revenue is: sqrt [sigma (x-mu)^2*P(x)], where, x denote revenue charged per luggage, and P(x) is probability associated with it, mu is the expected revenie calculated.

=sqrt [(0-21.4)^2*0.50+(30-21.4)^2*0.34+(70-21.4)^2*0.16]

=$25.14~$25.1

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