=+of low demand hed sell 30 high-fare and 80 low-fare ticketsrevenue of 30 * +210 + 80
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=+of low demand he’d sell 30 high-fare and 80 low-fare tickets—revenue of 30 * +210 + 80 * +90 = +13,500. In times of medium demand, he estimates 110 high-fare and 250 low-fare tickets, for an estimated revenue of $45,600.
And in times of high demand, he expects 500 low-fare customers and 250 high-fare customers, yielding $97,500.
Make a payoff table and decision tree for this decision.
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Related Book For
Business Statistics Plus Pearson Mylab Statistics With Pearson Etext
ISBN: 978-1292243726
3rd Edition
Authors: Norean R Sharpe ,Richard D De Veaux ,Paul Velleman
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