Airlines and hotels often grant reservations in excess of capacity to minimize losses due to no-shows. Suppose
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Question:
Airlines and hotels often grant reservations in excess of capacity to minimize losses due to no-shows. Suppose the records of a hotel show that, on the average, 10% of their prospective guests will not claim their reservation. If the hotel accepts 296 reservations and there are only 280 rooms in the hotel, what is the probability that all guests who arrive to claim a room will receive one? (Use the normal approximation. Round your answer to four decimal places.)
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