Xr03-98 Several years ago, the Barnes Exhibit toured major cities all over the world, with millions of
Question:
Xr03-98 Several years ago, the Barnes Exhibit toured major cities all over the world, with millions of people flocking to see it. Dr. Albert Barnes was a wealthy art collector who accumulated a large number of impressionist masterpieces; the total exceeds 800 paintings. When Dr. Barnes died in 1951, he stated in his will that his collection was not to be allowed to tour. However, because of the deterioration of the exhibit’s home near Philadelphia, a judge ruled that the collection could go on tour to raise enough money to renovate the building. Because of the size and value of the collection, it was predicted
(correctly) that in each city a large number of people would come to view the paintings. Because space was limited, most galleries had to sell tickets that were valid at one time (much like a play). In this way, they were able to control the number of visitors at any one time. To judge how many people to let in at any time, it was necessary to know the length of time people would spend at the exhibit; longer times would dictate smaller audiences; shorter times would allow for the sale of more tickets. The manager of a gallery that will host the exhibit realized her facility can comfortably and safely hold about 250 people at any one time. Although the demand will vary throughout the day and from weekday to weekend, she believes that the demand will not drop below 500 at any time. To help make a decision about how many tickets to sell, she acquired the amount of time a sample of 400 people spent at the exhibit from another city. What ticket procedure should the museum management institute?
Step by Step Answer:
Statistics For Management And Economics
ISBN: 9781133420774
9th Edition
Authors: Gerald Keller, Kenneth C Louden