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Boulder city is oBoulder city is organizing a concert festival. Due to security concern, the maximum number of admission is 1000. There are two types
Boulder city is oBoulder city is organizing a concert festival. Due to security concern, the maximum number of admission is 1000. There are two types of tickets: online reservation which is $20 per ticket, and on-site (i.e., last minute) ticket which is $50 per ticket. According to the historical data, the demand for online ticket is estimated to be a normal distribution N (800, 200), and the demand for on-site ticket is a normal distribution N (300, 60). a. [10 pts] How many on-site tickets should Boulder city reserve in order to maximize the ticket sales revenue?rganizing a concert festival. Due to security concern, the maximum number of admission is 1000. There are two types of tickets: online reservation which is $20 per ticket, and on-site (i.e., last minute) ticket which is $50 per ticket. According to the historical data, the demand for online ticket is estimated to be a normal distribution N (800, 200), and the demand for on-site ticket is a normal distribution N (300, 60)
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