Question
2.38 Baggage fees: An airline charges the following baggage fees: $20 for the first bag and $30 for the second. Suppose 50% of passengers have
2.38 Baggage fees: An airline charges the following baggage fees: $20 for the first bag and $30 for the second. Suppose 50% of passengers have no checked luggage, 30% have only one piece of checked luggage and 20% have two pieces. We suppose a negligible portion of people check more than two bags. a) The average baggage-related revenue per passenger is: $ (please round to the nearest cent) b) The standard deviation of baggage-related revenue is: $ (please round to the nearest cent) c) About how much revenue should the airline expect for a flight of 140 passengers? $ (please round to the nearest dollar)
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