QUESTION 17 5 points Save Answer (This problem description is for Questions 17-21) An airline is taking reservations for a direct flight from New York to Chicago. The aircraft used for this flight has 150 seats in total. The company is practicing a flat pricing policy for this route with the price of $300/ticket. Suppose the operating costis zero dollars per seat. The airline customers have been known to cancel their bookings near a flight date. To address this problem of cancellation, the airline implements an over booking method. A passenger is bumped if he/she already booked and paid for a ticket but can't get a seat on the airplane because the actual number of passengers showing up is larger than the seat capacity of the airplane. In this case, the airline has to use a backup plan that costs the company $500 per a bumped passenger. Suppose the airline implements a booking policy under which a customer does not pay/deposit any amount of money when booking (so there is no penalty for cancellation). What is the critical ratio (e. the probability that the number of cancellations is less than or equal to the overbooking level that the firm should target at? O 0.55 0.5 O 0.75 0.65 O 0.6 0.70 5 points