number 13 b flights by selling tickets to more passengers than a plane can accommodate. On a particular route, the plane13. Knowing that some passengers with tickets won't show up for a flight, airlines often "overbook" theirholds 20 passengers and only 80% of ticket holders show up. For flights on this route, the airline sells 24holders with a voucher for $1000. Assume that ticket holders show up independently of each other and that altickets for $400 each. If more than 20 ticket holders show up, the airline compensates the overbooked ticket24 tickets are sold.ticket holders that show up.Number of ticketholders who show up1718192021222324960096000.0998 0.1552 | 0.1960 | 0.1960 | 0.1493 0.081596009600E X= revenue (dollars)P(X)860076006600 5600(a) Calculate the probability that exactly 23 of the ticket holders show up(b) The expected revenue under these conditions is E(X) = $9184. Interpret this value.(c) How much additional revenue does the airline expect to make by selling 24 tickets rather than 20?(d) Explain how you would determine the ideal number of tickets to sell if the goal is to maximize expectedrevenue.wula Joord l leina) 1ot 2oml meat lo noiindreth orb lo nodso Inoste

Name: number 13 b flights by selling tickets to more passengers than a plane
Uploaded: 2024-03-20T06:46:03.000Z
Channel: Bartleby
Description: number 13 b flights by selling tickets to more passengers than a plane can accommodate. On a particular route, the plane13. Knowing that some passengers with tickets won't show up for a flight, airlines often "overbook" theirholds 20 passengers and o