Compute the probability function of x

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Reference no: EM13132754

The probability for a passenger not showing up is 5%. For this reason, AirCanada sells 205 tickets for a 200-seat airplane at $300cdn each. If the 201th passenger shows up, she will be refunded 300 plus a $500 compensation. The same for the 202nd and so on. AirCanada pockets all money from seat-sale if 200 or fewer
passengers show up.

Let X be net income of the AirCanada from the above described random experiment. Compute the probability function of X.

Reference no: EM13132754

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