you run a small airline that operates ten 30 seat airplane flights per day. For each flight, you can sell up to 32 tickets at $454 each. If more people show up that you have seats for, you need to pay $636 for each seat you don't have available. If you sell 32 tickets, the probability that exactly 32 people show up is 5% and exactly 31 people show up is 20%. If I sell 31 tickets, the probability that exactly 31 people show up is 10%. If I sell the profit-maximizing number of tickets for each flight, how much money would I expect to make (tick revenue - penalty) each day? Round your answer to the nearest dollar

you run a small airline that operates ten 30 seat airplane flights per day. For each flight, you can sell up to 32 tickets at $454 each. If more people show up that you have seats for, you need to pay $636 for each seat you don't have available. If you sell 32 tickets, the probability that exactly 32 people show up is 5% and exactly 31 people show up is 20%. If I sell 31 tickets, the probability that exactly 31 people show up is 10%. If I sell the profit-maximizing number of tickets for each flight, how much money would I expect to make (tick revenue - penalty) each day? Round your answer to the nearest dollar

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter10: Short-term Decision Making

Section: Chapter Questions

Problem 1EA: Garrison Boutique, a small novelty store, just spent $4,000 on a new software program that will help...

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