Consider a flight from Houston to Istanbul. The ticket price is p = $200, the flight...

  

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Consider a flight from Houston to Istanbul. The ticket price is p = $200, the flight capacity is C = 100 and overbooking limit is b = 110. a) Compute the number of accepted bookings and the number of passengers denied boarding for the following scenarios: put these numbers into the table below. If a certain scenario is not possible, put NP in its row. # of requests made Scenario 1 2 3 100 100 100 b 110 108 110 122 110 118 # of show-ups 96 104 114 Accepted bookings 108 110 NP (114 >110) Denied boardings 0 4 b) Suppose that all the possible rows above happen with equal probability and compute the expected number of show-ups, expected number of accepted bookings and expected number of denied boardings. c) Let be the profit which can be written as (i) (ii) =p(Number of show-ups) - D(Number of denied boardings). Calculate expected profit using the numbers you obtained in part b) if D = $250. =p(Number of accepted bookings) - D(Number of denied boardings). Calculate expected profit using the numbers you obtained in part b) if D = $250. Consider a flight from Houston to Istanbul. The ticket price is p = $200, the flight capacity is C = 100 and overbooking limit is b = 110. a) Compute the number of accepted bookings and the number of passengers denied boarding for the following scenarios: put these numbers into the table below. If a certain scenario is not possible, put NP in its row. # of requests made Scenario 1 2 3 100 100 100 b 110 108 110 122 110 118 # of show-ups 96 104 114 Accepted bookings 108 110 NP (114 >110) Denied boardings 0 4 b) Suppose that all the possible rows above happen with equal probability and compute the expected number of show-ups, expected number of accepted bookings and expected number of denied boardings. c) Let be the profit which can be written as (i) (ii) =p(Number of show-ups) - D(Number of denied boardings). Calculate expected profit using the numbers you obtained in part b) if D = $250. =p(Number of accepted bookings) - D(Number of denied boardings). Calculate expected profit using the numbers you obtained in part b) if D = $250.