How much on average expected profit will the flight generate

Assignment Help Mathematics

Reference no: EM13190188

An airline sells 120 tickets for a flight that seats 100. Each ticket is non-refundable and costs $200. The unit cost of flying is $80 / ticket. If flight is overbooked each person who does not find a seat is given $300. Assume it is equally likely that any number of people between 91-120 show up for the flight. How much , on average expected profit will the flight generate?

Reference no: EM13190188

Questions Cloud

Define a chemist has cyclohexanone : Imagine that a chemist has cyclohexanone, triphenylphosphine, butyllithium, and 2-bromobutane.

How large radio telescope would we need to detect signal : Consider a civilization broadcasting a signal with a power of 2.0×10^4 watts. The Arecibo radio telescope, which is about 300 meters in diameter, could detect this signal if it is coming from as far away as 141 light-years.

Find the real number restrictions on x in the expression : Find the real number restrictions on x in the expression

Probabilities of houses burning were positively correlated : Why does the assumption of independence of risks matter in insurance What would happen to premiums if the probabilities of houses burning were positively correlated Can you think of a situation where they might be negatively correlated

How much on average expected profit will the flight generate : Assume it is equally likely that any number of people between 91-120 show up for the flight. How much , on average expected profit will the flight generate?

Describe the separation of ownership and control : A friend convinces you that she has a great idea for a business, and the two of you incorporate. You supply her with funds and let her make all of the executive decisions. Under the agreement you hold 30 percent of the firm's stock and your friend..

Define the solvent phenol has a freezing point : A pure sample of the solvent phenol has a freezing point of 40.85 degrees C. a 0.414 molal solution of isopropyl alcohol in phenol was observed to have a freezing point of 38.02 degrees C.

Calculate an interval estimate for the mean life : Calculate an interval estimate for the mean life, , of light bulbs of this type. In other words, construct a 90% confidence interval for the mean life, , of light bulbs of this type

What could be the ratio of the length of the longer leg : what could be the ratio of the length of the longer leg of a 30-60-90 triangle to the length of its hypotenuse?

User Account

All Pages