Question: Problem 4.51 Suppose the probability that a person cancels his hotel reservation is 0.1 and the hotels capacity is 1, 000 rooms. In order to

Problem 4.51 Suppose the probability that a person cancels his hotel reservation is 0.1 and the hotel’s capacity is 1, 000 rooms. In order to minimize the number of empty rooms the hotel routinely overbooks. How many reservations above 1, 000 should it accept if it wants the probability of overbooking to be less than 0.01?

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