number 13 a 13. Knowing that some passengers with tickets won't show up for a flight, airlines often "overbook" theirholders 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 oftickets for $400 each. If more than 20 ticket holders show up, the airline compensates the overbooked ticketholds 20 passengers and only 80% of ticket holders show up. For flights on this route, the airline sells 24flights by selling tickets to more passengers than a plane can accommodate. On a particular route, the plane24 tickets are sold.ticket holders that show up.Number of ticketholders who show up1718192021222324onX= revenue (dollars)P(X)9600960096009600860076006600 56000.0998 | 0.1552 0.1960| 0.1960 | 0.1493 0.0815(a) Calculate the probability that exactly 23 of the ticket holders show unnottrvob innte bnu nom h o16 iemoglonrmizenggs ei zaml m ldsto no ta(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?q(d) Explain how you would determine the ideal number of tickets to sell if the goal is to maximize expected.revenue.र

Name: number 13 a 13. Knowing that some passengers with tickets won't show u
Uploaded: 2024-03-05T11:52:21.000Z
Channel: Bartleby
Description: number 13 a 13. Knowing that some passengers with tickets won't show up for a flight, airlines often "overbook" theirholders with a voucher for $1000. Assume that ticket holders show up independently of each other and that alThe table below shows par