# HW4 - Question.docx - CB2203 Data Driven Business Modeling...

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CB2203 Data Driven Business ModelingHomework 4You may answer on a piece of paper and take a photo of your solution.Alternatively, youmay type your solution.Please save your files as HW4-XXXXXXXX.xlsx/.pdf/.doc asappropriate, where XXXXXXXX is your student id number.You run a small charity to provide transportation for the elderly.You have a team ofvolunteer drivers, and you reimburse the drivers a small sum of money for each ridedepending on the distance between the pick-up point and the destination.You would like toestimate the daily reimbursement cost.Based on operations of the past year, you know thefollowing information:1.The number of people who call for a ride in each day is between 0 and 2.Theprobability that there will be X callers, where X = 0,1,2 is:Number of callers per dayProbability00.1010.6520.252.Each caller’s will ask for a ride between two locations.You reimburse your drivers(for gas, tunnel charges, etc) based on the following schedule:Ride IDProbabilityReimbursementA – KowloonNew Territories0.5\$30B – KowloonHK Island0.4\$25C – HK IslandNew Territories0.1\$50In Parts (a)-(c), you will design a SIMULATION BY HAND experiment over 10 days (i.e. 10trials). The following random numbers from 00-99 have already been generated.
List 1 - Random numbers to determine the number of call requests.Start at the top ofthe list.
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English language films, Randomness, random number, Statistical randomness, New Territories