This is an Airline overbooking problem where I need to find out how many tickets should the airline overbook to keep the profit maximum. Let us say that the number of seats on plane is 100. My revenue...

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This is an Airline overbooking problem where I need to find out how many tickets should the airline overbook to keep the profit maximum. Let us say that the number of seats on plane is 100. My revenue...

This is an Airline overbooking problem where I need to find out how many tickets should the airline overbook to keep the profit maximum. Let us say that the number of seats on plane is 100. My revenue from each ticket is 5000 and cost per passenger is 100. The cost of refunding a passenger in case of overbooking is 10000.

Probability of passenger showing up is 0.9.

math Statistics-And-Probability

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This is an Airline overbooking problem where I need to find out how many tickets should the airline overbook to keep the profit maximum. Let us say that the number of seats on plane is 100. My revenue...

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This is an Airline overbooking problem where I need to find out how many tickets should the airline overbook to keep the profit maximum. Let us say that the number of seats on plane is 100. My revenue...

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Add Answer to: This is an Airline overbooking problem where I need to find out how many tickets should the airline overbook to keep the profit maximum. Let us say that the number of seats on plane is 100. My revenue...

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What happened on United flight 3411?What service expectations do customers have of airlines such ...

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This is an Airline overbooking problem where I need to find out how many tickets should the airline overbook to keep the profit maximum. Let us say that the number of seats on plane is 100. My revenue...