Question: Please do the Airplane Booking Problem with a high fare of $776 and low fare of $125. The business traveler demand is given by a
Please do the Airplane Booking Problem with a high fare of $776 and low fare of $125. The business traveler demand is given by a normal distribution with mean 57 and standard deviation 5.
a - What is the under-stocking cost Cu?
b- What is the over-stocking cost Co?
c - What is the service level or critical fractile? Please state a probability with 4 decimal places and not a percentage.
d - What is the corresponding z-score? Please round the answer to 4 decimal places.
e - How many seats should we protect for full fare customers? Please round to a whole number.
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