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On a given flight there are 200 seats. Suppose the ticket price is $475 for each seat, and the number of passengers who reserve a seat but do not show up for departure is normally distributed with mean 30 and standard deviation 15. You decide to overbook the flight and estimate that the average loss from a passenger that will have to be "bumped" (if the number of passengers exceeds the number of seats) is $800 (in addition to refunding the original ticket price). What is the maximum number of reservations that should be accepted?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M91881302

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