Writing
MTH 410 Colorado State Unit 4 SUV Rental Condition Project

MTH 410

Colorado State University Global Campus

MTH

Question Description

I’m studying for my Mathematics class and need an explanation.

Option #2: Rental Condition

Aardvark Auto Rental rents vehicles. Each day Aardvark Automotive Rental keeps track of whether its SUVs were returned in “failing” condition. Aardvark must use more of its resources to restore each SUV with a “failing” returned condition. Aardvark rents an average of five SUVs each day. The condition of returned SUVs is recorded for many days in which five SUVs were rented.

Download the file titled SUV Failures. It contains a scatter plot of the number of failures versus frequency. To compare the results to the binomial distribution, complete the following:

Explain why SUV rental condition scenario can be a binomial experiment.

Using the SUV Failure scatter plot, construct a frequency distribution for the number of failures.

Compute the mean number of failures. The formula for the mean is as follows: LaTeX: \frac{\sum{(x⋅f)}}{\sum f}∑ ( x ⋅ f ) ∑ f

The terms x represent the total number of failures (0, 1, 2, 3, 4, 5) and f is the corresponding frequency (number of days where xᵢ failures occurred).

Explain what the numerical result means.

From the frequency distribution, construct the corresponding relative frequency distribution.Explain why the relative frequency distribution table is a probability distribution.Then, use Excel to create a scatter plot of the probability distribution:Select the two columns of the probability distribution. Click on INSERT, and then go to the Charts area and select Scatter. Then choose the first Scatter chart (the one without lines connecting).

Using the frequency distribution, what is the SUV failure average? In part 3, note that the numerator in the formula for the mean is the total number of failures. The total number of trials is the denominator of the formula for the mean multiplied by 5. What does this average mean?

The Binomial Distribution is uniquely determined by n, the number of trials, and p, the probability of “success” on each trial. Using Excel, construct the Binomial Probability Distribution for five trials, n, and probability of success, p, as the SUV failure average in part 5. Here is an explanation of the BINOM.DIST function in Excel: https://support.office.com/en-ie/article/BINOM-DIS... (Links to an external site.)

For example, In Excel

=BINOM.DIST(7,15,0.7, FALSE)

represents the probability of 7 successes out of 15 (n) trials. The 0.7 is the probability of success, p.

Using the above value of n=5 with probability of success, p, as the SUV failure average in part 5, what is the probability of at least three SUV failures?

Using the formula for the mean of the Binomial Distribution, what is the mean number of failures in part 6 above?

In Excel, create a scatter plot for the Binomial Distribution. The instructions for creating a scatter plot are in part 4 above.

Use the results above to compare the probability distribution of SUV failures and the Binomial Distribution. Compare the means in parts 4 and 6, too.

If the probability distribution of SUV failures and the Binomial Distribution differ, explain why that is so.

Do you think the Binomial Distribution is a good model for the SUV failure scenario? Why or why not?

How can Aardvark Auto Rental use the binomial distribution to approximate SUV failures?

In what other scenarios can Aardvark Auto Rental use the Binomial Distribution? Explain.

Write a report that adheres to the formatting and APA expectations outlined on the Citing & APA Resources page n the CSU-Global Writing Center. As with all written assignments at CSU-Global, you should have in-text citations and a reference page.

Submit your Excel file in addition to your report.

Requirements:

The paper must be written in third person.

Your paper should be four to five pages in length (counting the title page and references page) and cite and integrate at least one credible outside source. The CSU-Global Library (Links to an external site.) is a great place to find resources.

Include a title page, introduction, body, conclusion, and a reference page.

The introduction should describe or summarize the topic or problem. It might discuss the importance of the topic or how it affects you or society, or it might discuss or describe the unique terminology associated with the topic.

The body of your paper should answer the questions posed in the problem. Explain how you approached and answered the question or solved the problem, and, for each question, show all steps involved. Be sure the Word document is in paragraph format, not numbered answers like a homework assignment.

The conclusion should summarize your thoughts about what you have determined from the data and your analysis, often with a broader personal or societal perspective in mind. Nothing new should be introduced in the conclusion that was not previously discussed in the body paragraphs. Your conclusion should emanate from (be aligned with) your findings.

Include any tables of data or calculations, calculated values, and/or graphs associated with this problem in the body of your assignment.

Document formatting, citations, and style should conform to the Citing & APA Resources page

Unformatted Attachment Preview

No. of Failures Frequency Running head: INSERT FIRST 50 CHARACTERS OF TITLE [double click to edit] Title of Paper Student’s Name Course Number (ORG500) – Name of Course (Foundations of Effective Management) Colorado State University – Global Campus Instructor’s Name August 6, 2010 1 INSERT FIRST 50 CHARACTERS OF TITLE [double click to edit] 2 Title of Paper This is your introduction. If you need help writing this paper you can view the Writing an Effective Paper handout/tutorial which is located in the Library under the Library Tutorials. Please note: this template has not translated appropriately in some Microsoft products. Please be sure the paper you submit adheres to APA formatting standards. Ipsum lorem vei illum sat dolor euis mod tincidunt vei auminiure dolor in esse. Ulta ceet dolore magna si napi. Wisi e nim admin im veniam, quis nostrud. In atsvulpate velt esse meleste at semper manet sola. Ut lacreet dolore magna aliquam sic semper fi tyrannis erat volutpat. Wisi enim ad minim veniam. Dolore eu sata sfeugiat. Ipsum lorem vei illum sat dolor euis mod tincidunt vei auminiure dolor in esse. Ultaceet dolore magna si napi. Wisi e nim ad minim veniam, quis nos In a tsvulpate velt esse meleste at semper manet sola. UT lacreet dolore magna aliquam sic semp fi tyrannis erat volutpat. Wisi enim ad minim veniam. Dolore eu sata sfeugiat. Level 1 Header (Example: Leadership and Diversity) The Level 1 Header is going to be a broad topic. The Level 2 Header is a subtopic under Level 1 and Level 3 Headers is a subtopic under Level 2 Header, and so on. Depending on your topic and your outline, you may not use all the Headers. Ipsum lorem vei illum sat dolor euis mod tincidunt vei auminiure dolor in esse. Ulta ceet dolore magna si napi. Wisi e nim admin im veniam, quis nostrud. In atsvulpate velt esse meleste at semper manet sola. Ut lacreet dolore magna aliquam sic semper fi tyrannis erat volutpat. Wisi enim ad minim veniam. Dolore eu sata sfeugiat. Ipsum lorem vei illum sat dolor euis mod tincidunt vei auminiure dolor in esse. Ultaceet dolore magna si napi. Wisi e nim ad minim veniam, quis nos In a tsvulpate velt esse meleste at semper manet sola. UT lacreet dolore magna aliquam sic semp fi tyrannis erat volutpat. Wisi enim ad minim veniam. Dolore eu sata sfeugiat. INSERT FIRST 50 CHARACTERS OF TITLE [double click to edit] 3 Ipsum lorem vei illum sat dolor euis mod tincidunt vei auminiure dolor in esse. Ulta ceet dolore magna si napi. Wisi e nim admin im veniam, quis nostrud. In atsvulpate velt esse meleste at semper manet sola. Ut lacreet dolore magna aliquam sic semper fi tyrannis erat volutpat. Wisi enim ad minim veniam. Dolore eu sata sfeugiat. Ipsum lorem vei illum sat dolor euis mod tincidunt vei auminiure dolor in esse. Ultaceet dolore magna si napi. Wisi e nim ad minim Level 2 Header – This is a subtopic of Level 1 (Example: Leadership) Ipsum lorem vei illum sat dolor euis mod tincidunt vei auminiure dolor in esse. Ulta ceet dolore magna si napi. Wisi e nim admin im veniam, quis nostrud. In atsvulpate velt esse meleste at semper manet sola. Ut lacreet dolore magna aliquam sic semper fi tyrannis erat volutpat. Wisi enim ad minim veniam. Dolore eu sata sfeugiat. Ipsum lorem vei illum sat dolor euis mod tincidunt vei auminiure dolor in esse. Ultaceet dolore magna si napi. Wisi e nim ad minim veniam, quis nos In a tsvulpate velt esse meleste at semper manet sola. UT lacreet dolore magna aliquam sic semp fi tyrannis erat volutpat. Wisi enim ad minim veniam. Dolore eu sata sfeugiat. Level 3 Header - Indented, boldface, lowercase heading with a period. Begin body text after the period. This is a subtopic of Level 2 (Example: Team communication.). Ipsum lorem vei illum sat dolor euis mod tincidunt vei auminiure dolor in esse. Ulta ceet dolore magna si napi. Wisi e nim admin im veniam, quis nostrud. In atsvulpate velt esse meleste at semper manet sola. Ut lacreet dolore magna aliquam sic semper fi tyrannis erat volutpat. Wisi enim ad minim veniam. Dolore eu sata sfeugiat. Ipsum lorem vei illum sat dolor euis mod tincidunt vei auminiure dolor in esse. Level 4 Header - Indented, boldface, italicized, lowercase heading with a period. Begin body text after the period. This is a subtopic of Level 3 (Example: Public speaking.). Ultaceet dolore magna si napi. Wisi e nim ad minim. Ulta ceet dolore magna si napi. Wisi e nim admin im INSERT FIRST 50 CHARACTERS OF TITLE [double click to edit] 4 veniam, quis nostrud. In atsvulpate velt esse meleste at semper manet sola. Ut lacreet dolore magna aliquam sic semper fi tyrannis erat volutpat. Wisi enim ad minim veniam. Dolore eu sata sfeugiat. Ipsum lorem vei illum sat dolor euis mod tincidunt vei auminiure dolor in esse. Ultaceet dolore magna si napi. Wisi e nim ad minim Level 5 - Indented, italicized, lowercase heading with a period. Begin body text after the period. This is a subtopic of Level 4 (Example: Posture and tone.). Ipsum lorem vei illum sat dolor euis mod tincidunt vei auminiure dolor in esse. Ulta ceet dolore magna si napi. Wisi e nim admin im veniam, quis nostrud. In atsvulpate velt esse meleste at semper manet sola. Ut lacreet dolore magna aliquam sic semper fi tyrannis erat volutpat. Wisi enim ad minim veniam. Dolore eu sata sfeugiat. Ipsum lorem vei illum sat dolor euis mod tincidunt vei auminiure dolor in esse. Ultaceet dolore magna si napi. Wisi e nim ad minim veniam, quis nos In a tsvulpate velt esse meleste at semper manet sola. UT lacreet dolore magna aliquam sic semp fi tyrannis erat volutpat. Wisi enim ad minim veniam. Dolore eu sata sfeugiat. Ipsum lorem vei illum sat dolor euis mod tincidunt vei auminiure dolor in esse. Ulta ceet dolore magna si napi. Wisi e nim admin im veniam, quis nostrud. In atsvulpate velt esse meleste at semper manet sola. Ut lacreet dolore magna aliquam sic semper fi tyrannis erat volutpat. Wisi enim ad minim veniam. Dolore eu sata sfeugiat. Ipsum lorem vei illum sat dolor euis mod tincidunt vei auminiure dolor in esse. Ultaceet dolore magna si napi. Wisi e nim ad minim Level 2 Header (Example: Diversity) Ipsum lorem vei illum sat dolor euis mod tincidunt vei auminiure dolor in esse. Ulta ceet dolore magna si napi. Wisi e nim admin im veniam, quis nostrud. In atsvulpate velt esse meleste at semper manet sola. Ut lacreet dolore magna aliquam sic semper fi tyrannis erat volutpat. Wisi enim ad minim veniam. Dolore eu sata sfeugiat. Ipsum lorem vei illum sat dolor euis mod INSERT FIRST 50 CHARACTERS OF TITLE [double click to edit] 5 tincidunt vei auminiure dolor in esse. Ultaceet dolore magna si napi. Wisi e nim ad minim veniam, quis nos In a tsvulpate velt esse meleste at semper manet sola. UT lacreet dolore magna aliquam sic semp fi tyrannis erat volutpat. Wisi enim ad minim veniam. Dolore eu sata sfeugiat. Ipsum lorem vei illum sat dolor euis mod tincidunt vei auminiure dolor in esse. Ulta ceet dolore magna si napi. Wisi e nim admin im veniam, quis nostrud. In atsvulpate velt esse meleste at semper manet sola. Ut lacreet dolore magna aliquam sic semper fi tyrannis erat volutpat. Wisi enim ad minim veniam. Dolore eu sata sfeugiat. Ipsum lorem vei illum sat dolor euis mod tincidunt vei auminiure dolor in esse. Ultaceet dolore magna si napi. Wisi e nim ad minim INSERT FIRST 50 CHARACTERS OF TITLE [double click to edit] 6 References Carroll, A. B. (1979). A three-dimensional conceptual model of corporate performance. The Academy of Management Review, 4(4), 497. [This is a journal article citation. Articles from the Library databases are based on print journals so the citation will end with page numbers.] Collins, J. (2001). Good to great. New York, NY: HarperCollins Publishers Inc. [This is a book citation.] Epstein, M. J. (2008). Making sustainability work. San Francisco, CA: Greenleaf Publishing Limited. Epstein, M., & Roy, M. (2003). Improving sustainability performance: Specifying, implementing and measuring key principles. Journal of General Management, 29(1), 15-31. French, S. (2009). Critiquing the language of strategic management. The Journal of Management Development, 28(1), 6-17. doi: 10.1108/02621710910923836 [This is a journal article citation from a Library database. Include a doi number if available.] Ginter, P., Ruck, A., & Duncan, W. (1985). Planners’ perceptions of the strategic management process. Journal of Management Studies, 22(6), 581-596. Hollingworth, M. (2009, November/December). Building 360 organizational sustainability. Ivey Business Journal Online. Retrieved from http://www.iveybusinessjournal.com/article.asp?intArticle_ID=868 [This is a journal that is published online, so you would include the URL.] Reuters. (2010). Walgreens Co. (WAG.N). Retrieved from http://www.reuters.com/finance/stocks/companyProfile?symbol=WAG.N INSERT FIRST 50 CHARACTERS OF TITLE [double click to edit] 7 Walgreens. (2010a). Mission statement. Retrieved from http://news.walgreens.com/article_display.cfm?article_id=1042 [This is a website citation with a corporate author. If you retrieve information from various pages of this particular website, you need to cite each web page. However, because the author and the year will be exactly the same, the lowercase letters, “a,” “b,” etc. need to be added to the year. The in-text citation would be: (Walgreens, 2010a).] Walgreens. (2010b). Our past. Retrieved from http://www.walgreens.com/marketing/about/history/default.html ...
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Final Answer

Attached.

number of failures
0-0.9
1-1.9
2-2.9
3-3.9
4-4.9
5-5.9
mean

Frequecy
23
25
18
2
0
0
15
68
0.220588

mean(trials)
The SUV failure
average ratio

Relative Condition
0.39
0.37
0.27
0.03
0
0

340
0.044118

Probability

Scatter Plot of Probability Distribution
0.45
0.4
0.35
0.3
0.25
0.2
0.15
0.1
0.05
0

1.2
1
0.8
0.6
0.4
0.2
0

1

2

3

4

Number of failures

5

6

7
0
0

# of failures
0
1
2
3
4
5

four hundredth probability
0.82
0.17
0.02
0.001
0.00001
1

mean
Returning failures
probability

0.335168333
0.001

5 trials average

0.005

Four Hundredth Probability

1

2

3

4

5

6

7


Running head: OPTION #2: RENTAL CONDITIONS

Option #2: Rental Conditions
Quantitative Business Analysis
University
July 03, 2020

1

OPTION #2: RENTAL CONDITIONS
2
Introductions
The SUV rental condition is a binomial analysis of probabilities knowing that there are a
fixed number of preliminaries of five SUVs every day. Likewise, every preliminary is free and
doesn't depend on each other. This infers the status of the vehicle that profits by the day's end
isn’t influenced by another. ...

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