Myrtle Air Express decided to offer direct service from Cleveland to Myrtle Beach. Management must decide between a full-price service using the company’s new fleet of jet aircraft and a discount service using smaller capacity commuter planes. It is clear that the best choice depends on the market reaction to the service Myrtle Air offers. Management developed estimates of the contribution to profit for each type of service based upon two possible levels of demand for service to Myrtle Beach: strong and weak. The following table shows the estimated quarterly profits (in thousands of dollars):
Demand for Service
Service Strong Weak
Full price $960 -$490
Discount $670 $320
1. What is the decision to be made, what is the chance event, and what is the consequence for this problem?
2. How many decision alternatives are there?
Number of decision alternatives =
3. How many outcomes are there for the chance event?
Number of outcomes =
4. If nothing is known about the probabilities of the chance outcomes, what is the recommended decision using the optimistic, conservative, and minimax regret approaches?
a. Optimistic approach
b. Conservative approach
c. Minimax regret approach

Answers

Answer 1

here i attached the answer

Myrtle Air Express Decided To Offer Direct Service From Cleveland To Myrtle Beach. Management Must Decide
Answer 2

The decision to be made is the type of service to be provided. The chance event is the level of demand for the air service.

What is Air Service?

The services performed by an airline, as flights between various destinations to transport passengers, freight, and mail.

The decision to be made is the type of service to be provided. The chance event is the level of demand for the air service. The consequence can be considered as the amount of quarterly profit. Full price and discount price services are two decision alternatives. The number of outcomes for chance event is two, which are strong demand and weak demand.

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Related Questions

During three consecutive years, an employers salary is increased by 15%. If after three years his salary is 45,400, what was his salary before the raises?

Answers

Answer:

$29,851.24

Step-by-step explanation:

The salary started as x.

Each year it was increased 15%.

A full amount is 100% of the amount. When you add 15% to the amount, you now have 115% of the amount.

115% as a decimal is 1.15; that means that to increase an amount by 15%, multiply the amount by 1.15

For example, let's say you want to know what is a 15% increase on 100. Start with 100. 15% of 100 is 15, so if you add 15% to 100 you expect to get 115.

Now multiply 1.15 by 100. You also get 115 showing you that multiplying a number by 1.15 is the same as adding 15%.

Now let's get back to our problem.

The salary started as x.

Each year, the increase in salary was 15% of the previous salary.

After 1 year the salary is 1.15x.

After 2 years, the salary is 1.15(1.15x).

After 3 years, the salary is 1.15(1.15(1.15x)) = (1.15^3)x

We are told that the salary became $45,400 after the three 15% increases, so

(1.15)^3 * x = 45,400

Multiply out 1.15^3 as 1/15 * 1.15 * 1.15 = 1.520875

1.520875x = 45,400

Divide both sides by 1.520875.

x = 45,400/1.520875

x = 29,851.24

Answer: $29,851.24

Find the equation of the line passing through (3,5) with a slope of 1

WILL GIVE BRAINLIEST

Answers

Slope-intercept form:

y = x + 2

Point-slope form:

y − 5 = 1 ⋅ ( x − 3 )

I hope this is correct and helps!

Find the area of the geometric figure.
3 yd
3 yd
Traperoid
7 yd

Answers

Step-by-step explanation:

The question isn't clear, so I'll just give you a formula to find the area of trapezoid,

(a+b)*h/2, where a = base side, b = top side, h = height.

So, let's say two sides are 3 yd and 7 yd, and height is 3 yd, so the area becomes,

(3+7)*3/2

= 10*3/2

= 30/2

= 15 yd²

Answered by GAUTHMATH

answer please I’m dying from math

Answers

Answer:

B

substract the variables

Determine the value of z in the figure
5z
130°

A.Z = 30°
B.Z = 45°
C.z = 50°
D.Z = 10°

Answers

Hi!

180° - 130° = 50°

5z = 50° || : 5

z = 10°

Answer:

10

Step-by-step explanation:

since 130 and the 5z are complementary angles, by subtracting 130 from 180, you get 50. then you equal in 50 to 5z. 50=5z. to solve, you divide 5 from 50 and your answer is 10.

What does p(B/A) represent?

Answers

Answer:

I believe you're asking about P(B|A).

Step-by-step explanation:

So,

P(B|A) represents the probability of event B occurring after it is assumed that event A has already occurred.

P(B|A) means "Event B given Event A" . In other words, event A has already happened, now what is the chance of event B?  P(B|A) is also called the "Conditional Probability" of B given A.

Hello friends!
Can anyone of you solve this?
so please solve

Answers

Step-by-step explanation:

each point should be at a 2. the center is 0,0


It takes Ricky, traveling at 24 mph, 45 minutes longer to go a certain distance than it takes Maria traveling at 51 mph, Find the distance traveled.

Answers

Answer:

85 mi

Step-by-step explanation:

Let d = the distance in miles traveled

Let M = the time in hours for Maria to travel d miles

[tex]m+\frac{3}{4} =[/tex] time in hours for Ricky to travel d miles

(Note that [tex]\frac{3}{4}[/tex] hrs = 45 min)

----------------------

Maria's equation:

d = 51m

Ricky's equation:

d = 24 · [tex](m+\frac{3}{4} )[/tex]

----------------------

Substitution:

51m = 24 · [tex](m+\frac{3}{4} )[/tex]

51m = 24m + 45

6m = 10

m = [tex]\frac{5}{3}[/tex]

----------------------

d = 51m

d = 51 · [tex](\frac{5}{3})[/tex]

d = 85

----------------------

The distance traveled is 85 mi

If it takes Ricky, traveling at 24 mph, 45 minutes longer to go a certain distance than it takes Maria traveling at 51 mph, the distance traveled is 85 miles

Speed and distances

Speed is the ratio of distance traveled to time taken. Mathematically:

Distance = Speed/Time

According to the given question:

Let d be the distance in miles traveledLet M be the time in hours for Maria to travel d milesLet the required time in hours for Ricky to travel be d miles

Set up the Maria equation:

d = 51m

Set up Ricky's equation:

d = 24 · (m+3/4)

Substitute

51m = 24 · (m+3/4)

51m = 24m + 45

6m = 10

m = 5/3

Determine the required distance

d = 51m

d = 51 · 5/3

d = 85

Hence the distance traveled is 85 mile

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find the rate of change of volume of a cone if dr/dt is 3 in./min. and h=4r when r = 8 inches

Answers

Answer:

[tex]v = \frac{1}{3}bh[/tex]

since base is pi r^2

[tex]v = \frac{1}{3} \pi \: r {}^{2} h[/tex]

it's given that h=4r

[tex]v = \frac{1}{3} \pi \: r^{2} (4r) = \frac{4}{3} \pi \: {r}^{3} [/tex]

now find derivative

[tex] \frac{dv}{dt} = 4\pi \: r {}^{2} [/tex] × dr/dt

r=8 , dv/dt = 3

dv/dt = 4pi (8)^2 ×3 = 768pi

Answer:

768 pi in^3/min

Step-by-step explanation:

Volume of cone=1/3 pi×r^2×h

Differentiating this gives:

dV/dt=1/3×pi×2r dr/dt×h+1/3×pi×r^2×dh/dt

We are given the following:

dr/dt = 3 in./min.

h=4r when r = 8 inches

If h=4r then dh/dt=4dr/dt=4(3 in/min)=12 in/min

If h=4r and r=8 in, then h=4(8)=32 in for that particular time.

Plug in:

dV/dt=1/3×pi×2r dr/dt×h+1/3×pi×r^2×dh/dt

dV/dt=1/3×pi×2(8)(3)×32+1/3×pi×(8)^2×12

dV/dt=pi×2(8)(32)+pi×(8)^2(4)

dV/dt=pi(256×2)+pi(64×4)

dV/dt=pi(512)+pi(256)

dV/dt=pi(768)

dV/dt=768pi

dV/dt=768/pi in^3/min

Help please
The cost, c(x), for parking in a hospital lot is given by c(x) = 5x + 3.00, where x is the number of hours. What does the slope mean in this situation?

Answers

Answer:

The slope is the cost per hour.

$5 per hour

How do I find the missing number?

Answers

Answer:

to find the missing number is all u have to do is understand the problem and silve the problem!

Step-by-step explanation:

paki brainly po

22/24 Marks
51%
The diagram shows a star made by surrounding a
regular octagon with triangles.
Explain why angle a must be 135º.
+
I

Answers

Answer:

Step-by-step explanation:

shape Sides Sum of interior angles Each Angle

   

Triangle         3 180°         60°

Quadrilateral 4 360° 90°

Pentagon 5 540° 108°

Hexagon         6 720° 120°

Heptagon  7 900° 128.57...°

Octagon         8 1080° 135°

Nonagon 9 1260° 140°

Can someone just check my answers please? Please let me know which questions are wrong. Thank you for your time.

Answers

Answers:

1 liter of acid4 liters of water

You got the first question correct, but the second one is wrong. The two values must add up to 5.

===================================================

Explanation:

We're told that 20% of this solution is acid. We have 5 liters total, so

20% of 5 = 0.20*5 = 1

Meaning there's 1 liter of pure acid in this solution.

The remaining 5-1 = 4 liters of the solution is water

Or you could note that if 20% is pure acid, then the remaining 80% is water

80% of 5 = 0.80*5 = 4

------------------

Another approach is to realize that 20% is the same as the fraction 1/5

So if 1/5 of the mix is pure acid, and we have 5 liters of the solution, then we must have 1 liter of pure acid

(1 liter of pure acid)/(5 liters of solution) = 1/5 = 20% acid solution

Answer:

I think they all look pretty good for the most part

How would you write 8^5 as a multiplication expression?

Answers

8•8•8•8•8 is the correct answer

Answer:

8 * 8 * 8 * 8 * 8

Step-by-step explanation:

8^5 is basically 8 times itself five times.

Write – 90 5/8 as a decimal number.

Answers

Answer:

-90.625

Step-by-step explanation:

Answer:

[tex]-90~5/8\\[/tex]

[tex]Decimal=-90.625[/tex]

-------------------------------

~HOPE IT HELP....~

~HAVE A GREAT DAY!!~

15. Which of the following is a rational number?
O A.V-
O B. 18
O C. T (3.141592...)
OD.3.59

Answers

Answer:

c

Step-by-step explanation:

non terminating recurring. i think option c must be the answer

Round 36.319 to the nearest tenth

Answers

36.3 because the digit in the hundredths place is not 5 or greater
The answer is 36.
Explanation

One jar holds 20 green marbles and 4 white marbles. A second jar holds 60 black marbles and 20 white marbles. What is the probability that a white marble will be drawn from both jars?

Answers

Answer:

[tex]\sf \dfrac{1}{24}=0.0417=4.17\%\:\:(3\:s.f.)[/tex]

Step-by-step explanation:

Given information:

Contents of Jar 1:

20 green marbles4 white marblestotal marbles = 20 + 4 = 24

Contents of Jar 2:

60 black marbles20 white marblestotal marbles = 60 + 20 = 80

Probability Formula

[tex]\sf Probability\:of\:an\:event\:occurring = \dfrac{Number\:of\:ways\:it\:can\:occur}{Total\:number\:of\:possible\:outcomes}[/tex]

Therefore:

[tex]\sf P(white\:marble\:from\:Jar\:1)=\dfrac{4}{24}=\dfrac{1}{6}[/tex]

[tex]\sf P(white\:marble\:from\:Jar\:2)=\dfrac{20}{80}=\dfrac{1}{4}[/tex]

As the events are independent (i.e. drawing a marble from one jar does not influence or affect drawing a marble from the other jar), we can use the independent probability formula:

[tex]\sf P(A\:and\:B)=P(A) \cdot P(B)[/tex]

Therefore, the probability that a white marble will be drawn from both jars is:

[tex]\sf P(white\:marble\:from\:Jar\:1)\:and\:\sf P(white\:marble\:from\:Jar\:2)=\dfrac{1}{6} \cdot \dfrac{1}{4}=\dfrac{1}{24}[/tex]

#Jar 1

Total marbles =20+4=24

P(w)

4/24=1/6

#Jar 2

Total marbles=60+20=80

P(w)

20/801/4

P(w in total)

1/4(1/6)1/24

y-2x-1=0 for -2 ≤ x ≤ 4 . can someone help me graph a straight line for this pls ?​

Answers

Answer: See the graph below.

It is a straight line segment with endpoints (-2,-3) and (4,9).

===============================================================

Explanation:

We're told that x is between -2 and 4, including both endpoints.

Let's see what y is when we plug in x = -2

y-2x-1 = 0

y-2(-2)-1 = 0

y+4-1 = 0

y+3 = 0

y = -3

So x = -2 pairs up with y = -3. The point (x,y) = (-2,-3) is on the line. This is the left most endpoint.

Repeat for x = 4 to find what y must be

y-2x-1 = 0

y-2(4)-1 = 0

y-8-1 = 0

y-9 = 0

y = 9

Therefore the point (x,y) = (4,9) is also on the line. It's the right most endpoint

Once we have the two points, we can form the straight line. Simply connect the endpoints mentioned as shown below. We don't extend the line infinitely outwards in both directions because [tex]-2 \le x \le 4[/tex] meaning x cannot be smaller than -2, and x cannot be greater than 4 either.

Side note: The given equation is the same as y = 2x+1. It has slope 2 and y intercept 1.

3. A)Find the next number in the sequence.
$1,27, 9, 3, _1_
B) Is the sequence arithmetic, geometric, or neither?

Help me find this answer please

Answers

9514 1404 393

Answer:

  1/3; geometric

Step-by-step explanation:

Apparently, your sequence is ...

  81, 27, 9, 3, 1, ...

The differences between these numbers vary, but the ratio of each to the one before is a constant:

  27/81 = 9/27 = 3/9 = 1/3

The sequence is geometric with a common ratio of 1/3. The next number in the sequence is (1)(1/3) = 1/3.

Pls help quick. (Geomery question)

Given that m∠abc=70° and m∠bcd=110°. Is it possible (consider all cases): Line AB intersects line CD?

Answers

Answer:

Given that m∠abc=70° and m∠bcd=110°. Is it possible (consider all cases): Line AB intersects line CD?

yes

Step-by-step explanation:

#CarryOnLearning

In which month was the peak, the largest deposit, made?


A histogram titled Savings Account Deposits has Months on the x-axis and amount deposited on the y-axis. January is 50 dollars; February is 80 dollars; March is 110 dollars; April is 100 dollars: May is 95 dollars; June is 250 dollars; July is 320 dollars; August is 300 dollars; September is 80 dollars.
January
June
July
August

Answers

Your answer is July.

From least to greastest:

January: $50

February: $80

September: $80

May: $95

April: $100

March: $110

June: $250

August: $300

July: $320

I hope this helps!

The month that had the largest deposit is the month of; July

How do you Interpret a Histogram?

From the given histogram with savings account on the x-axis and amount deposited on the y-axis, we can see the following amounts deposited for each month as follows;

January = $50February = $80March = $110April = $100May = $95June: $250July: $320August: $300September: $80

The month with the largest deposit is clearly July

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When f(x) is divided by x + 4 the quotient is x2+5x−3+2x+4. What is f(−4)?

Answers

F(x) = (x2+5x-3+2x+4)(x+4)
=> f(-4)=((-4)2+5(-4)-3+2*(-4)+4)(-4+4)=0
F(-4)=0

HELP ASAP I WILL GIVE BRAINLIST

Find the length of an arc of a circle with a 8-cm radius associated with a central angle of 240 degrees. Give your answer in exact and approximate form to the nearest hundredth. Show and explain your work

Answers

Answer:

33.51 cm

Step-by-step explanation:

240/360 = 2/3 (Arc length is 2/3 of the total circumference)

C = 2[tex]\pi[/tex]r             ( Calculate the total circumference)    

C = 2(8)[tex]\pi[/tex]

C = 50.265

2/3(50.265)      (Take 2/3 of the circumference. times 2 divide by 3)

33.51

Use a calculator and leave the answer to C and then multiply and divide. You get a more precise answer.

The exact arc length is [tex]\frac{32\pi}{3}[/tex] radians.

The arc length in approximate form is 33.49 radians.

What is the formula for arc length?

[tex]s = r\times \theta[/tex]

where r is the radius of the circle and [tex]\theta[/tex] is the central angle in radians.

How to convert angle from degrees to radians?

Radians = Degrees ×[tex]\frac{\pi}{180^{\circ}}[/tex]

For given question,

We have been given a circle with a 8-cm radius associated with a central angle of 240 degrees.

[tex]r=8~cm,~\theta=240^{\circ}[/tex]

First we convert angle in radians.

[tex]\theta=240^{\circ}\\\\\theta=240^{\circ} \times \frac{\pi}{180^{\circ}}\\\\ \theta=\frac{4\pi}{3}[/tex]

Using the formula of the arc length,

[tex]s=8\times \frac{4\pi}{3} \\\\s=\frac{32\pi}{3}[/tex]

The exact answer of the arc length is [tex]s=\frac{32\pi}{3}[/tex]

Substitute the value of [tex]\pi = 3.14[/tex]

So, the arc length would be,

[tex]\Rightarrow s=\frac{32\times \pi}{3}\\\\\Rightarrow s=\frac{32\times 3.14}{3}\\\\\Rightarrow s=33.49[/tex]radians

Therefore, the exact arc length is [tex]\frac{32\pi}{3}[/tex] radians.

the arc length in approximate form is 33.49 radians.

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Which equation represents the line that passes through points (1, –5) and (3, –17)?

Answers

Answer:

equation : y= -6 + 1

Step-by-step explanation:

sum of first n terms of an ap sequance is 3n2+5n.what is the sum of its first n+1 terms.find the sum of its first 10 terms.



Answers

Answer:

a) 3n^2 + 11n + 8

b) 350

Step-by-step explanation:

10) 3(10^2)+ 5*10 = 350

n+1) 3(n+1)^2 + 5(n+1)

        3(n^2 + 2n + 1) + 5n+5

         3n^2 + 6n+3 + 5n + 5

           3n^2 + 11n + 8

870,640 rounded to the nearest ten thousand

Answers

Answer: 870,000

Step-by-step explanation: First find the digit in the rounding place

which in this case is the 7 in the ten thousands place.

Next, we look at the digit to the right of the 7, which is 0.

According to the rules of rounding, if the digit to the right

of the rounding place is less than 5, we round down.

So the 7 in the rounding place stays the same

and all digits to the right of the become 0.

So 870,640 rounded to the nearest ten thousand is 870,000.

equivalent fraction of 9/11​

Answers

Answer:

1822

Step-by-step explanation:

The fraction 1822 is equal to 911 when reduced to lowest terms.

18

22

is equivalent to 9

11

because 9 x 2 = 18 and 11 x 2 = 22

27

33

is equivalent to 9

11

because 9 x 3 = 27 and 11 x 3 = 33

36

44

is equivalent to 9

11

because 9 x 4 = 36 and 11 x 4 = 44

Answer:

18/22

Step-by-step explanation:

You can choose any number and if you multiply the top number (numerator) and the bottom number (denominator) by that same number, the fractions are equivalent.

If you choose the number 2, then multiply 9 x 2 = 18, and 11 x 2 = 22

Or multiply by 7. Then you would get an equivalent fraction of 63/77  

A film distribution manager calculates that 9% of the films released are flops. If the manager is right, what is the probability that the proportion of flops in a sample of 469 released films would be greater than 6%

Answers

Answer:

0.9884 = 98.84% probability that the proportion of flops in a sample of 469 released films would be greater than 6%.

Step-by-step explanation:

To solve this question, we need to understand the normal probability distribution and the central limit theorem.

Normal Probability Distribution:

Problems of normal distributions can be solved using the z-score formula.

In a set with mean [tex]\mu[/tex] and standard deviation [tex]\sigma[/tex], the z-score of a measure X is given by:

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the p-value, we get the probability that the value of the measure is greater than X.

Central Limit Theorem

The Central Limit Theorem establishes that, for a normally distributed random variable X, with mean [tex]\mu[/tex] and standard deviation [tex]\sigma[/tex], the sampling distribution of the sample means with size n can be approximated to a normal distribution with mean [tex]\mu[/tex] and standard deviation [tex]s = \frac{\sigma}{\sqrt{n}}[/tex].

For a skewed variable, the Central Limit Theorem can also be applied, as long as n is at least 30.

For a proportion p in a sample of size n, the sampling distribution of the sample proportion will be approximately normal with mean [tex]\mu = p[/tex] and standard deviation [tex]s = \sqrt{\frac{p(1-p)}{n}}[/tex]

A film distribution manager calculates that 9% of the films released are flops.

This means that [tex]p = 0.09[/tex]

Sample of 469

This means that [tex]n = 469[/tex]

Mean and standard deviation:

[tex]\mu = p = 0.09[/tex]

[tex]s = \sqrt{\frac{p(1-p)}{n}} = \sqrt{\frac{0.09*0.91}{469}} = 0.0132[/tex]

What is the probability that the proportion of flops in a sample of 469 released films would be greater than 6%?

1 subtracted by the p-value of Z when X = 0.06. So

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

By the Central Limit Theorem

[tex]Z = \frac{X - \mu}{s}[/tex]

[tex]Z = \frac{0.06 - 0.09}{0.0132}[/tex]

[tex]Z = -2.27[/tex]

[tex]Z = -2.27[/tex] has a p-value of 0.0116

1 - 0.0116 = 0.9884

0.9884 = 98.84% probability that the proportion of flops in a sample of 469 released films would be greater than 6%.

find the measure of angle BAC

Answers

Answer:

a= 26

Step-by-step explanation:

180-130=50

total angle in triangle =180

4a+a+50=180

then proceed like norma algebra

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Giannitti Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the upcoming year appear below:Estimated machine-hours 72,900 Estimated variable manufacturing overhead $ 3.50 per machine-hourEstimated total fixed manufacturing overhead 838,710 The predetermined overhead rate for the recently completed year was closest to:________.A. $6.66 per machine-hourB. $10.50 per machine-hourC. $8.69 per machine-hourD. $15.00 per machine-hour what ordered pair makes both inequalities true-3,5-2,2-1,-30,-1 write a letter to your district chief executive telling him/ her three problem facing my locality round off to nearest 100 to 221 Nachelle went to the store to buy some almonds. The price per pound of the almonds is $6.50 per pound and she has a coupon for $4.75 off the final amount. With the coupon, how much would Nachelle have to pay to buy 5 pounds of almonds? Also, write an expression for the cost to buy pp pounds of almonds, assuming at least one pound is purchased. A venture capital company feels that the rate of return (X) on a proposed investment is approximately normally distributed with mean 30% and standard deviation 10%. (a) Find the probability that the return will exceed 55%. (b) Find the probability that the return will be less than 25% (c) What is the expected value of the return? (d) Find the 75th percentile of returns. If a student walked 2 feet straight to the chalk board in 2 seconds andthen walked 2 feet back to his or her original position at his or her desk atthe same speed, what was the student's displacement at 2 secondscompared to 0 seconds?O 6 feetO O feetO2 feetO 4 feet Classifying Liability-Related Accounts into Balance Sheet or Income Statement Indicate the proper financial statement classification (balance sheet or income statement) for each of the following liability-related accounts. Account Financial Statement a. Gain on Bond Retirement Answer Income statement b. Discount on Bonds Payable Answer Balance sheet c. Mortgage Notes Payable Answer Balance sheet d. Bonds Payable Answer Balance sheet e. Bond Interest Expense Answer Income statement f. Bond Interest Payable (due next period) Answer Balance sheet g. Premium on Bonds Payable Answer Balance sheet h. Loss on Bond Retirement Answer Income statement Check The element least likely to obey the octet rule in forming chemical bonds is Group of answer choices oxygen. carbon. nitrogen. neon. fluorine. Far behind does anyone know this? Who created the military districts show here? solve the following problems In AJKL, mZJ = (8x + 6)", mZK = (2x + 2), and mL = (4x + 4). Find m_L. A garden store pays $85 for a planter. The percent of markup is 35%. What is the selling price of the planter please help thank you!!! Would this pressure difference be greater or smaller if the scuba diver were in seawater (density 1050 kg/m3 ) and went to the same depth you calculated in question D1, took and held his breath, and then returned to the surface Mixedwood Plains: Too Popular? the quotient of 30 and the difference of 12 and 6 What are the coordinates of the point that 1/6 of the way from A to B On March 7, a buyer and a seller execute a contract for the purchase of the seller's property. Closing is set for June 10. On April 15, the property is struck by lightning and destroyed by the resulting fire. If the Uniform Vendor and Purchaser Risk Act has been adopted by the state in which the property is located, which party bears liability for the loss?