Select the correct text in the passage, What is the opportunity cost in this scenario?
Mikael has saved $4,000 for his trip to Brazil. He has calculated that his total transportation expenses will be $1,000. The hotel will cost him
another $1,500. He will spend about $500 on food. He plans on spending the remaining $1,000 for sightseeing and buying souvenirs.
While booking his plane ticket
, he realizes that the price has gone up. His total transportation expenses will go up by $200. He realizes that he
cannot cancel his hotel reservation. He also doesn't want to go cheap on food. Finally, he decides to give up visiting the popular Ouro Preto
during his stay in Brazil
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Afriend of mine is giving a dinner party. his current wine supply includes 10 bottles of zinfandel, 8 of merlot, and 11 of cabernet (he only drinks red wine), all from different wineries. (a) if he wants to serve 3 bottles of zinfandel and serving order is important, how many ways are there to do this? ways (b) if 6 bottles of wine are to be randomly selected from the 29 for serving, how many ways are there to do this? ways (c) if 6 bottles are randomly selected, how many ways are there to obtain two bottles of each variety? ways (d) if 6 bottles are randomly selected, what is the probability that this results in two bottles of each variety being chosen? (round your answer to three decimal places.) (e) if 6 bottles are randomly selected, what is the probability that all of them are the same variety? (round your answer to three decimal places.)