John and Mario, owners of Mi Casa Front Porch Restaurant are planning a big Super Bowl
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Description
John and Mario, owners of Mi Casa Front Porch Restaurant are planning a big Super Bowl event for their Glendale Westgate restaurant location and have received a permit for additional outside seating. They are debating on whether to invest in a tent for the event in case of rain. Because of demand for rentals, the cost to rent a tent of the size required is $30,000. Based upon the almanac, it only rained 15 days each year. Unfortunately, the long term forecast is for rain on Super Bowl Sunday; and this particular weatherman is correct 85% of the time. That also means that when it does not rain, he incorrectly forecasts rain 15% of the time. Using Bayes Theorem, determine the probability for rain and apply the probability to the decision to rent a tent. Answer the question below in essay format. Your essay must include an introduction, a body, and a conclusion, and it must address all relevant parts of each question. Your response should be a minimum of 150 words in length and should include your analysis of the probability calculations. Make sure to cite any source you use. Proper citation format for a source includes the name of the author(s), the title of the work, the date of the publication, and the page number if you directly quote the source.
