Question
Overbooking flights is acommon practiceof most airlines. A particular airline, believing that4% of passengers fail to show for flights, overbooks (sells more tickets than there
Overbooking flights is acommon practiceof most airlines. A particular airline, believing that4% of passengers fail to show for flights, overbooks (sells more tickets than there are seats). Suppose that for a particular flight involving a jumbo-jet with265seats, the airline sells276tickets.
Question 1.What is the expected number of ticket holders that will fail to show for the flight? (Use 2 decimal place in your answer.)
Question 2.What is the probability that the airline will not have enough seats for all the ticket holders who show for the flight? Pleasespecific explain the second question and specific explain how can we use thebinomial distribution function. Thank you!
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started