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Question 1 : Airplane Booking Problem ( see Newsvendor Model Lecture ) Please do the Airplane Booking Problem with a high fare of $ 7

Question 1: Airplane Booking Problem (see Newsvendor Model Lecture)
Please do the Airplane Booking Problem with a high fare of $707 and low fare of $167. The business traveler demand is given by N(mu =56, sigma =5).What is the under-stocking cost Cu?What is the over-stocking cost Co?What is the service level or critical fractile? (Please state a probability with 4 decimal places (and not a percentage).What is the corresponding z-score?How many seats should we protect for full fare customers? Please round to a whole number?

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