Question: Recently, a small yoga studio has been facing a high no-show rate on Saturday mornings. The owner plans to implement an overbooking policy with a
Recently, a small yoga studio has been facing a high no-show rate on Saturday mornings. The owner plans to implement an overbooking policy with a $20 gift card in case a student cannot be served. The studio makes $35 from each student on average. The studio can accommodate up to 20 students each Saturday morning. If the number of no-shows is normally distributed with mean 6 and standard deviation 2, how many appointments in total should the studio take each Saturday morning?
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
