Your Car Breaks Down in a Remote Location

question 1

Multiple Choice

Your car breaks down in a remote location.Your cell phone has enough power left in it to send four text messages.If there is a 30% chance that any text you send will be read by the recipient, what is the probability that you will need to send all four texts to reach help (i.e., the probability that your fourth text will be the first and only one read) ?

• A) 0.9920
• B) 0.0189
• C) 0.1029
• D) 0.0081

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Definitions:

Busy Times

Periods where demand for products or services significantly exceeds the usual levels, often leading to strain on resources.

Differential Pricing

The strategy of selling the same product to different customers at different prices based on market factors or customer characteristics.

Hotels

Establishments that provide paid lodging on a short-term basis, offering a variety of amenities, which may include food services, event facilities, and recreational activities.

Peak Periods

Peak periods refer to times of heightened demand or activity within a business or market, often leading to increased sales, higher operational intensity, and the need for strategic planning to meet consumer needs.