Resort A and Resort B are two ski areas. On any randomly selected day during the

Question

Resort A and Resort B are two ski areas. On any randomly selected day during the ski season, the expected number of skiers purchasing lift tickets at Resort A is 6,000, with a standard deviation 2,000. The number of skiers purchasing lift tickets at Resort B is also a random variable, with expected value 4,000 and standard
deviation 1,500. The number of skiers purchasing lift tickets at each area is positively correlated, with a correlation of 0.56.

a) Find the expected total number of skiers at the two ski areas, and the standard deviation of the total number of skiers at the the two areas.

(b) Suppose that both ski areas charge $40 per lift ticket. Find the expected daily revenues for each of the two ski areas, and the expected sum of the two areas

Explanation / Answer

[PDF] Student Project: Operating a Ski Resort - Alberta Education education.alberta.ca/media/614626/sept2006_ama30_project.pdf

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