Exhibit 12.4. The Following Questions Use the Information Below

question 66

Multiple Choice

Exhibit 12.4.
The following questions use the information below.
The manager of a Washington, DC sightseeing tour company is concerned about overbooking for one of his bus tours. The bus has 15 seats but sometimes there are empty seats. His records show that about 20% of ticket holders do not show up for their tour. Tickets cost $10 and are non-refundable. If the manager overbooks the tour and more than 15 passengers show up, some of them will be bumped to a later tour. This bumping costs the company $25 in various expenses to keep the customer happy until the next tour. The manager wants to see what happens to profits if 18 reservations are accepted.
-Using the information in Exhibit 12.4, what formula should go in cell C13 of the worksheet to determine the Opportunity Cost of Empty Seats?

• A) =C5*MAX(C4,C10)
• B) =C5*MAX(C4,0)
• C) =MAX(C4-C10,0)
• D) =C5*MAX(C4-C10,0)

Understand the nature and extent of slave resistance and the objectives behind such resistance.

Comprehend the role of African influences and religion in forming a distinctive African American culture.

Examine the impact of the cotton boom on southern society and the establishment of "the Cotton South."

Analyze the lives of yeoman farmers to distinguish characteristics common in their lifestyle.

---

Definitions:

Research Groups

Teams or collections of individuals conducting studies focused on specific academic or scientific inquiries.

Statistical Analysis

The process of collecting, exploring, and presenting large amounts of data to discover underlying patterns and trends.

Field Experiment

An experimental research study conducted in a natural setting outside the laboratory to understand the impact of independent variables on a particular outcome.

Natural Experiment

An empirical study in which individuals are exposed to experimental and control conditions determined by nature or by other factors outside the investigators' control.