Which blockchain technology do you believe will survive and become the defacto industry standard, not as a crypto-currency but as a security-based technology. Why?

Most airlines practice overbooking. That is, they are willing to ma ke more reservations  than they have seats on an airplane. Why would  they  do this?  The basic reason  is simple; on any given flight a few passengers are likely  to  be  “no-shows.”  If the airline overbooks slightly, it still may be able to fill the airplane. Of course, this policy  has its risks. If more  passengers arrive to claim their  reservations  than there are seats availa ble, the airline must  “bump” some of  its passengers.  Often this is done by asking for volunteers. If a passenger with a reserved seat is willing to give up his or her seat, the airline typically  will provide incentives of some sort. The fundamenta l trade-off  is whether  the additional  expected  revenue  gained  by flying an airplane that is nearer  to capacity on average is worth  the additional expected cost of  the incentives. To study the overbooking  policy, let us look  at a hypothetical  situation.  Mockingbird  Airlines  has  a small  commuter  airplane  that seats  16 passengers.  The airline uses Lhis jel uu a ruule fur which iL chaq;es $225 for a one-way fare. Every flight has a fixed cost of $900 (for  pilot’s salary, fuel, airport fees, and so on). Each passenger  costs Mockingbird  an  additional  $100.

Finally, the no-show rate is 4%. That is, on average approximately 4% of those passengers holding confirmed reservations do not show up. If Mockingbird must bump a passenger, the passenger receives a refund on his or her ticket ($225) plus a $100 voucher toward another ticket.

How many reservations should Mockingbird sell on this airplane? The strategy will be to calculate the expected profit for a given number of reservations. For example, suppose tha t the Mockingbird manager decides to sell 18 reservations. The revenue is $225 times the number of reservations:

R = $225(18)

= $4050

The cost consists of two components. The first is

the cost of flying the plane and hauling the passengers who arrive (but not more than the airplane ‘s capacity of 16):

C1 = $900 +$100 x M in(Arrivals, 16)

The second component is the cost of refunds and

free tickets that must be issued if 17 or 18 passengers arnve:

C2 = ($225 + $100) x Max( O, Arrivals – 16)

In this expression for C2, the $225 represents the refund for the purchased ticket, and the $100

represents  the cost of the free ticket. The Max ( ) expression calculates the number  of excess passengers who show up (zero if the number  of arrivals is

16 or less.

Questions

1. Find the probability that more than 16 passengers will arrive if Mockingbird sells 17 reservations (Res = 17). Do the same for 18 and 19.

2. Find:

E (RI Res = 16) E(C1IRes = 16)

E(C2IRes = 16)

Finally, calculate

E (Profit j Res = 16) = E( R I Res = 16)

– E(C1IRes = 16) – E(C2 IRes = 16)

3.  Repeat Question 2 for 17, 18, and 19 reservations. What is your conclusion? Should Mockingbird overbook? By how much?

Case 13.3 “Dear Mr. President—Please Cancel our Project!”: The Honolulu Elevated Rail ProjectThis case is a great current example of a very expensive project that was kicked off because of an assumed need—to relieve congestion in downtown Honolulu through an elevated urban rail system.  Critics argue that in addition to having a ballooning cost, the actual planning was poorly conceived, leaving Honolulu with an intrusive and ugly rail system through the downtown area, ruining panoramic views, and impeding traffic.  Additionally, advocates underestimated the power needs for the rail system, requiring the transport authority to renegotiate electricity fees for the system.  Finally, the original costs that were assumed for the project were calculated during an economic downturn and with the economy booming again, the costs of the project have gone up dramatically.  All of these elements points to a state Governor who is anxious to be rid of the project and hoping that President Trump will deny additional federal funding, in which case the project will likely be cancelled.Questions

1. Why are public works projects like the Honolulu Rail project nearly impossible to stop once they have been approved, even if later cost estimates skyrocket? 
2. Project Management researchers have charged that many large infrastructure projects, like this one, suffer from “delusion” and “deception” on the parts of their advocates.  Explain how “delusion” might be a cause of ballooning budgets in this project.  How does “deception” affect the final project budget overruns?

Text

Title: Project Management 

ISBN: 9780134730332 

Authors: Pinto 

Publisher: Pearson 

Edition: 5TH 19

 According to recent surveys, China, India, and the Philippines are the three most popular countries for IT outsourcing. Write a short paper (2-4 paragraphs) explaining what the appeal would be for US companies to outsource IT functions to these countries. You may discuss cost, labor pool, language, or possibly government support as your reasons. There are many other reasons you may choose to highlight in your paper. Be sure to use your own words.