Maximum number of reservations that should be accepted

Assignment Help Operation Management
Reference no: EM131124745

On a given flight there are 200 seats. Suppose the ticket price is $475 for each seat, and the number of passengers who reserve a seat but do not show up for departure is normally distributed with mean 30 and standard deviation 15. You decide to overbook the flight and estimate that the average loss from a passenger that will have to be "bumped" (if the number of passengers exceeds the number of seats) is $800 (in addition to refunding the original ticket price). What is the maximum number of reservations that should be accepted?

Reference no: EM131124745

Questions Cloud

What reforms of the compensation system : Did the actions or inactions of the board of directors contribute to the problems at Citigroup? What changes in governance would you recommend, and why?  What reforms of the compensation system, if any, would you recommend, and why?
Service representatives at champion copiers to extraverted : Roy Jones believes it is important for his service representatives at Champion Copiers to be extraverted. Although he has no documentation to back up this belief, Roy wants to test his employees on this psychological dimension and tie their compensat..
Method of breaking down job into these various elements : Many auto shops that promise oil changes in 30 minutes or less assign one person to put the car on the lift, a second to drain the old oil, a third to put in new oil, and a fourth to be sure the other jobs have been done and to check the other lubric..
Liable for her injuries and subsequent hospital bills : Roland and Kelly were involved in a car accident in which Kelly was badly injured and had to be hospitalized. After the accident was investigated, it was found that Roland’s negligence was the cause of the accident. Duly, he was charged with reckless..
Maximum number of reservations that should be accepted : On a given flight there are 200 seats. Suppose the ticket price is $475 for each seat, and the number of passengers who reserve a seat but do not show up for departure is normally distributed with mean 30 and standard deviation 15. What is the maximu..
What is the average time that customers wait in the line : A small grocery store has a single checkout line. On Saturdays, customers arrive at the checkout at the average rate of 7.5 per hour (according to a Poisson distribution). The cashier takes an average of 6 minutes to process a single customer. We ass..
Will your leadership schematic or leadership plan : What kind of leadership would be needed initially to launch your product or service and what kind of leadership would be needed for future expansion and for future growth? Will your leadership schematic or leadership plan support your organizations v..
Trying to share internet access : In a hotel, twelve guests are trying to share Internet access by using a single Ethernet cable in a guest room and the other devices they have (e.g. 12 laptops, a single switch that has at least twelve ports, and a few Ethernet cables).
What is the nature and scope of care : What is the nature and scope of “care” you are ethically obligated to give your employees? Specifically, what are the characteristics of that duty? To what extent should you “care” about your employees? Use examples to clarify and justify your point ..

Reviews

Write a Review

Operation Management Questions & Answers

  How many kanbans are needed for the letter-sorting process

Stan Weakly can sort a bin of 100 letters in 10 minutes. He typically receives 600 letters an hour. A truck arrives with more bins every 30 minutes. The office uses a safety factor of 10%. How many kanbans are needed for the letter-sorting process?

  Discuss traits of best supply chains

You may pick out one topic or several topics to discuss Traits of Best Supply Chains. The initial post must include in text citations and a reference list.

  Write a paper to address hypothetical business scenario

Write a paper in which you address the following hypothetical business scenario: Amanda and Phillip have recently married, both age 30. They live on a modest income and have $30,000 in a joint bank account. Theyrecently purchased a condo together. So..

  Give a definition in your own terms of frequently used

the ceo expects you to be providing a number of various logistics reports and recommendations to her. she has asked you

  Continued to misunderstand

Discuss a time at work, home, or school when you attempted to communicate with someone who failed to pay attention and/or continued to misunderstand. How did you feel?

  International standards on auditing are established

International Standards on Auditing are established by the, The general group of U.S. generally accepted auditing standards includes a requirement that, Which of the following best describes what is meant by U.S. generally accepted auditing standards..

  Workers are only motivated by money

How would you respond if someone told you that workers are only motivated by money? What are some motivations for work according to the Christian worldview?

  What issues might limit the effectiveness

Accident investigation results from the US Air Boeing 737 accident at Pittsburg, PA: a similar accident at Colorado Springs, CO, and several near-upsets involving Boeing 737's have suggested that the cause may be a sudden, un-commanded, full deflecti..

  Taking a macro economic perspective

Taking a macro economic perspective, what is it important to understand about the distinction between developed and developing countries in terms of marketing? Use the American Marketing Association Web site as a reference for your initial post.

  Describe how a race condition is possible

Elucidate how a race condition is possible also illustrate what might be done to prevent race condition from occurring.

  Estimate the server service rate per hour

Consider a single-line, single-server waiting line system. Suppose that there is only physical space for 2 units in the system (one in line and one being served).

  What are the most critical problems you face as a manager

What are the most critical problems you face as a manager? What are the most critical skills needed to be a successful manager in your line of work? What are the major reasons managers fail in positions like yours?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd