Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

Based on long experience, an airline has found that about 6% of the people making reservations on a flight from Miami to Denver do not show up for the flight. Suppose the airline overbooks this flight by selling 267 ticket reservations for an airplane with only 255 seats.

[A] Probability that someone with a reservation will show up for the flight?

[B] Let n = 267 represent the number of ticket reservations. Let r represent the number of people with reservations who show up for the flight. Which expression represents the probability that a seat will be available for everyone who shows up holding a reservation?

[C] Use the normal approximation to the binomial distribution and part (b) to answer the question: What is the probability that a seat will be available for every person who shows up holding a reservation?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M9376093

Have any Question?


Related Questions in Statistics and Probability

Researchers randomly assigned 25 beginning students of

Researchers randomly assigned 25 beginning students of Russian to begin speaking practice immediately and another 25 to delay speaking for 4 weeks. At the end of the semester both groups took a standard test of comprehen ...

Please let me know what are the steps involved in computing

Please let me know what are the steps involved in computing the future value when you have multiple cash flows.

A survey found that 80 of college students had access to a

A survey found that 80% of college students had access to a tablet. A sample of 250 college students is taken. Find the mean and standard deviation for this binomial distribution.

Light travels at 186283 miles every second how many feet

Light travels at 186,283 miles every second. How many feet per hour does light travel? Round one decimal place if necessary.

If you flip five coins what is the probability that you

If you flip five coins what is the probability that you will get at least three heads?

Based on college data scores on a certain test can be seen

Based on college data, scores on a certain test can be seen as normally distributed that can show the mean of 1524 and a standard deviation of 318. What percentage of scores are greater than 1842 and if needed round to t ...

In a survey of 3439 adults 1418 say they have started

In a survey of 3439 adults, 1418 say they have started paying bills online in the last year. Construct a? 99% confidence interval for the population proportion. Interpret the results.

You hold a stock with price 100 that can increase by 10 or

You hold a stock with price $100 that can increase by 10% or decrease by 10% m a year. The interest rate is 5% a) Suppose that you want to ensure that you'll get a minimum of $I00 in a year regardless of the evolution of ...

Assume the probability of a male being lt 21 is 1867 the

Assume the probability of a male being 50 is 4.80%, and the probability of being female and > 50 is 8.00%. Based on this information and the information in the tables above, what is the probability that someone

Jamie dimon changed the business model for jpmorgan chase

Jamie Dimon changed the business model for JPMorgan Chase in 2008. In the process, the bank gave enormous trading authority to one individual. What are the ERM strengths and weaknesses of this strategy?

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As