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A common practice on airlines is to overbook, that is, to sell more tickets than there are seats. Suppose an airline operates a 747 with
A common practice on airlines is to overbook, that is, to sell more tickets than there are seats. Suppose an airline operates a 747 with 467 seats. They have sold 480 seats, the probability of any given passenger showng up for the ight is 96%. What is the probability that they will end up with more passengers trying to board the airline than there are seats? Compare this value to exact probability (using a binomial distribution)
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