A Recent Estimate Finds That Approximately 800 Meteorites with Mass

question 45

Multiple Choice

A recent estimate finds that approximately 800 meteorites with mass greater than 0.1 kg strike the surface of the Earth each day.If a house covers an area of roughly then what is the probability that your house will be struck by a meteorite in your 100-year lifetime? Note that the radius of the Earth is 6,400 km.

• A) 1 in
• B) 1 in
• C) 1 in
• D) 1 in

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Definitions:

Yield Management

A pricing strategy used in industries with fixed capacities, such as hotels and airlines, to maximize revenue through the manipulation of prices based on demand.

Variable Costs

Costs that vary directly with the level of business activity.

Fixed Costs

Costs that do not change in total amount with changes in the volume of production, such as rent, salaries, and insurance expenses.