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A newly created NorthEast Airways (NE) flight from Philadelphia to Boston has 300 seats.The highfare on the flight is $800 and the restricted/low fare is
A newly created NorthEast Airways (NE) flight from Philadelphia to Boston has 300 seats.The highfare on the flight is $800 and the restricted/low fare is $300.There is ample demand for the low fareclass but high fare demand is random.Further, the customers who buy low fares buy their tickets well inadvance before high fare customers. Assume the demand for the high fare is normally distributed withmean 120and standard deviation of 50
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