An airline charges the following baggage fees: $30 for the first bag and $35 for the second. Suppose 28% of passengers have no checked luggage, 54% have only one piece of checked luggage and 18% have two pieces. We suppose a negligible portion of people check more than two bags. Use the template in this Excel file to work this problem. Download and open in Excel for the formulas to work and show properly, and to copy/paste the sheet. a) The average baggage-related revenue per passenger is: $ ______________ (round to nearest cent) b) The standard deviation of baggage-related revenue is: $ ______________ (round to nearest cent) c) About how much revenue should the airline expect for a flight of 130 passengers? $ ____________ (round to nearest dollar)
An airline charges the following baggage fees: $30 for the first bag and $35 for the second. Suppose 28% of passengers have no checked luggage, 54% have only one piece of checked luggage and 18% have two pieces. We suppose a negligible portion of people check more than two bags. Use the template in this Excel file to work this problem. Download and open in Excel for the formulas to work and show properly, and to copy/paste the sheet.
a) The average baggage-related revenue per passenger is: $ ______________ (round to nearest cent)
b) The standard deviation of baggage-related revenue is: $ ______________ (round to nearest cent)
c) About how much revenue should the airline expect for a flight of 130 passengers? $ ____________ (round to nearest dollar)
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