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An airline sells 1 2 0 tickets for a flight that seats 1 0 0 . Each ticket is non - refundable and costs $
An airline sells tickets for a flight that seats Each ticket is nonrefundable and costs $ The unit cost of flying a passenger fuel landing fees, etc. is $ and assumes that every flight is full. If the flight is overbooked, each person who does not get a seat is given $ in cash. Assume it is equally likely that any number of people between and show up for the flight. Rounded to the nearest thousand, what is the average expected profit the flight will generate?
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