Determine the maximum number of reservations

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Reference no: EM132264681

1. On a given Detroit-Seattle flight, there are 120 seats. Suppose the ticket price is $385 on average. You estimate that the average loss from a passenger who will have to be bumped (if the number of passengers exceeds the number of seats) is $875.

2. Determine the maximum number of reservations that should be accepted if the number of passengers who reserve a seat but do not show up (‘no shows’) for departure is normally distributed with mean 45 and standard deviation 20.

Reference no: EM132264681

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