Business, 18.11.2019 18:31, Angel13613

Offwego airlines has a daily flight from chicago to las vegas. on average, 16 ticket holders cancel their reservations, so the company intentionally overbooks the flight. cancellations can be described by a normal distribution with a mean of 16 passengers and a standard deviation of 4.60 passengers. profit per passenger is $86. if a passenger arrives but cannot board due to overbooking, the company policy is to provide a cash payment of $186.how many tickets should be overbooked to maximize expected profit?

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Offwego airlines has a daily flight from chicago to las vegas. on average, 16 ticket holders cancel...