Use the data set shown below to answer the following question(s). The demand at the ticket booking center can be modeled by a Poisson distribution with a mean of 220.Assume that each reservation has a constant probability of p = 0.02 of being cancelled.Use Crystal Ball functions for the model.
-For the data given above,identify the Crystal Ball function that models the number of cancellations.
A)CB.Poisson(0.02,Reservation limit)
B)CB.Binomial(0.02,Reservation limit)
C)CB.Poisson(0.02,Customer demand)
D)CB.Binomial(0.02,Reservations made)

Question

Use the data set shown below to answer the following question(s).  The demand at the ticket booking center can be modeled by a Poisson distribution with a mean of 220.Assume that each reservation has a constant probability of p = 0.02 of being cancelled.Use Crystal Ball functions for the model.
-For the data given above,identify the Crystal Ball function that models the number of cancellations.
A)CB.Poisson(0.02,Reservation limit) 
B)CB.Binomial(0.02,Reservation limit) 
C)CB.Poisson(0.02,Customer demand) 
D)CB.Binomial(0.02,Reservations made)

Quizplus · Accepted Answer

The number of cancellations can be modeled by a binomial distribution since there are repeated trials (reservations) with two possible outcomes (cancelled or not cancelled) and a constant probability of cancellation (p = 0.02). Therefore, the Crystal Ball function that models this is CB.Binomial(0.02,Reservations made).

Use the Data Set Shown Below to Answer the Following