A common practice of airline companies is to sell more tickets for a particular flight than...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6648d46b55fe3_0026648d46ae50f5.jpg)
Transcribed Image Text:
A common practice of airline companies is to sell more tickets for a particular flight than there are seats on the plane, because customers who buy tickets do not always show up for the flight. Suppose that the percentage of no-shows at flight time is 2%. For a particular flight with 246 seats, a total of 250 tickets were sold. What is the probability that the airline overbooked this flight? Click here to view page 1 of the standard normal distribution table. Click here to view page 2 of the standard normal distribution table. The probability is (Round to four decimal places as needed.) A common practice of airline companies is to sell more tickets for a particular flight than there are seats on the plane, because customers who buy tickets do not always show up for the flight. Suppose that the percentage of no-shows at flight time is 2%. For a particular flight with 246 seats, a total of 250 tickets were sold. What is the probability that the airline overbooked this flight? Click here to view page 1 of the standard normal distribution table. Click here to view page 2 of the standard normal distribution table. The probability is (Round to four decimal places as needed.)
Expert Answer:
Posted Date:
Students also viewed these mathematics questions
-
1. Consider the linear system Ax = b (all integer values) with the notation shown below, 1 -3 -1 -2 - H 5 7 - 2261x11 X2 -4 3 9 16x3 615 LX4- = A X b The element a24 = a has been lost. Assume,...
-
Bennet National Banks credit-card department issues a special credit card that permits credit-card holders to withdraw funds from the banks automated teller machines (ATMs) at any time of the day or...
-
In the context of the BSV model, explain intuitively (non technically) why two consecutive earnings changes in the same direction make investors less likely to think that they are in regime 1...
-
Alleghany Technologies Incorporated disclosed in its annual report that: Discuss why a liquidation of LIFO inventory quantities would reduce a companys cost of goods sold. Does this event indicate...
-
Bank reconciliation adjustment. Refer to Mini-Exercise 5.1. In Mini-Exercise 5.1, The balance in Happ, Inc.'s general ledger Cash account was $12,430 at September 30, before reconciliation. The...
-
When evaluating the financial statements, determine the increases, decreases, percentage changes, and what is the next step? What are ratios important when comparing financial statements?
-
Develop a short report including a well identified and justified target group following a Segmentation, Targeting and Positioning approach
-
Philippines Peso (the currency of Philippines) 1) Provide a plan of action that could be implemented to mitigate the impact of the currency movements, i.e., how you should to some firm approach...
-
Pacific Airline decides to use a collar to hedge the oil price risk. The lower strike is 55 and the higher strike is 60. The options mature in 6 months and the annualized 6-month interest rate is 6%...
-
Criminology: Restorative Justice Annotation Summary on the following articles: Article 1. Restorative Justice, Indigenous Justice and Human Rights...
-
Speed-Line ABS is a securitised vehicle comprising of automotive loans. The investment bank marketing the deal has promoted the asset with a base-case CPR of 22%. Assuming this is an accurate...
-
1. Hempstead Electric buys its wiring materials in bulk directly from Hamilton Wire and Cable Company. Hamilton offers credit terms that involve a cash discount of 3 percent if payment is received in...
-
Givea the following data, determine the % by mass of Iron (II1) (Fe3") in a sample of an iron oxalate compiex with the general formula KFe,(C,0a),l wH;O. m(iron oxalate complex) used for stock...
-
(a) As Section 17.3 discusses, high-frequency sound waves exhibit less diffraction than low-frequency sound waves do. However, even high-frequency sound waves exhibit much more diffraction under...
-
Solve the following standard maximum problem by the simplex algorithm: maximize: 2x1 x2 x3 + 4x4 - x1 + x2 3 subject to: x3 + X4 6 x + 2x2 + x3 + 2x4 10 x; 0 for all i
-
Verify that the list in formula (8) constitutes a basic feasible solution for the winery problem (3)-(4).
-
A small software production company wants to maximize the benefit of the time and money spent by its staff in working on development projects. It produces software that is roughly classified as one...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App