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Offwego Airlines has a daily flight from Chicago to Las Vegas. On average, 15 ticket holders cancel their reservations, so the company intentionally overbooks the
Offwego Airlines has a daily flight from Chicago to Las Vegas. On average, 15 ticket holders cancel their reservations, so the company intentionally overbooks the flight. Cancellations can be described by a normal distribution with a mean of 15 passengers and a standard deviation of 4.50 passengers. Profit per passenger is $85. If a passenger arrives but cannot board due to overbooking, the company policy is to provide a cash payment of $185 Use Table B How many tickets should be overbooked to maximize expected profit? (Round your z value to 2 decimal places. Round your other intermediate calculations to 4 decimal places and final answer to the nearest whole number.) Overbooked tickets
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