Question
An airline pricing analyst has been asked to review an airline's flights. She has determined that 80% of all flights reach the final destination
An airline pricing analyst has been asked to review an airline's flights. She has determined that 80% of all flights reach the final destination on time. When a flight has 100 or more passengers, the flight is on time 40% of the time. The probability of a flight being on time and having 100 or more passengers is 12%. If the flight has fewer than 100 passengers, what is the probability it arrives on time?
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Finance Applications and Theory
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