number 13 c 13. Knowing that some passengers with tickets won't show up for a flight, airlines often "overbook" theirtickets for $400 each. If more than 20 ticket holders show up, the airline compensates the overbooked ticketholders with a voucher for $1000. Assume that ticket holders show up independently of each other and that alThe table below shows part of the probability distribution of X= revenue (dollars) based on the number offlights by selling tickets to more passengers than a plane can accommodate. On a particular route, the planeholds 20 passengers and only 80% of ticket holders show up. For flights on this route, the airline sells 2424 tickets are sold.ticket holders that show up.Number of ticketholders who show upLX= revenue (dollars)| P(X)17181920212223249600960096009600860076006600 56000.0998 | 0.1552 | 0.1960 | 0.1960 | 0.1493 0.0815(a) Calculate the probability that exactly 23 of the ticket holders show up.(b) The expected revenue under these conditions is E(X) = $9184. Interpret this value.(c) How much additional revenue does the airline expect to make by selling 24 tickets rather than 20?(d) Explain how you would determine the ideal number of tickets to sell if the goal is to maximize expectedrevenue.

Name: number 13 c 13. Knowing that some passengers with tickets won't show u
Uploaded: 2024-03-20T06:46:03.000Z
Channel: Bartleby
Description: number 13 c 13. Knowing that some passengers with tickets won't show up for a flight, airlines often "overbook" theirtickets for $400 each. If more than 20 ticket holders show up, the airline compensates the overbooked ticketholders with a voucher fo