Question
Distinguish between quantitative analysis and operations research? 2. Explain how business use quantitative analysis in decision making process 3. An airline offers coach and first-class
Distinguish between quantitative analysis and operations research?
2. Explain how business use quantitative analysis in decision making process
3. An airline offers coach and first-class tickets. For the airline to be profitable, it must sell a minimum of 25 first-class tickets and a minimum of 40 coach tickets. The company makes a profit of $225 for each coach ticket and $200 for each first-class ticket. At most, the plane has a capacity of 150 travelers. Explain how you can help this company to determine how many of each ticket should be sold to?
maximize profits?
Minimize cost?
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