Determine the probability that full-fare demand f is less, Ask an Expert

Management Studies

In recent weeks Hotjack Airlines' LAX to LAS flight has departed Los Angeles with more empty coach seats than expected. Hotjack operates a 95 passenger B-737/100 on this route. The regular unrestricted one-way coach fare is $89. Hotjack updated forecast indicates that the average demand for this flight (at the $89 fare) has dropped to 60 passengers. To better utilize its capacity, Hotjack plans to introduce a "gambler's special" fare of only $49. The fare will have an advance purchase restriction.

Determine the probability that full-fare demand F is less than X*, the ideal number of seats that should be set aside for full fare passengers.

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M986213

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