Question: Problem 3 ( 2 pts ) Consider a flight from Houston to Istanbul. The ticket price is p = $ 2 2 0 , the
Problem pts Consider a flight from Houston to Istanbul. The ticket price is $ the flight capacity is C and overbooking limit is
a pts 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.
tableScenarioCb# of requests made,# of showups,tableAcceptedbookingstableDeniedboardings
b pts Suppose that all the possible ie non NP rows above happen with equal probability and compute the expected number of accepted bookings and expected number of denied boardings.
c pts Let be the profit which can be written as
Accepted bookings Denied boardings
Calculate expected profit using the numbers you obtained in part b if $
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