Each Tuesday, Ryan Airlines reduces its one-way ticket from Fort Wayne to Chicago from $125 to $25. To receive this special $25 price, the customer must buy a round up ticket. Ryan has a non refundable 26% penalty fare for cancellation; it estimates that about eight-tenths of 1% will cancel their reservations. The airline also estimates this special price will cause a passenger traffic increase from 500 to 700. Ryan expects revenue for the year to be 53.7% higher than the previous year. Last year, Ryan’s sales were $484,000. To receive the special rate, Janice Miller bought two round trip tickets. On other airlines, Janice has paid $99 round trip (with no cancellation penalty.) a. Calculate the percent discount Ryan is offering. (Round to the nearest hundredth percent.) b. Calculate the percent passenger travel will increase. c. Calculate the sales for the new year. d. Calculate Janice’s loss if she cancels one round-trip flight. e. Approximately how many more cancellations can Ryan Airlines expect (after Janice’s cancellation)? (Round down your answer to nearest whole number.)
Each Tuesday, Ryan Airlines reduces its one-way ticket from Fort Wayne to Chicago from $125 to $25. To receive this special $25 price, the customer must buy a round up ticket. Ryan has a non refundable 26% penalty fare for cancellation; it estimates that about eight-tenths of 1% will cancel their reservations. The airline also estimates this special price will cause a passenger traffic increase from 500 to 700. Ryan expects revenue for the year to be 53.7% higher than the previous year. Last year, Ryan’s sales were $484,000. To receive the special rate, Janice Miller bought two round trip tickets. On other airlines, Janice has paid $99 round trip (with no cancellation penalty.) a. Calculate the percent discount Ryan is offering. (Round to the nearest hundredth percent.) b. Calculate the percent passenger travel will increase. c. Calculate the sales for the new year. d. Calculate Janice’s loss if she cancels one round-trip flight. e. Approximately how many more cancellations can Ryan Airlines expect (after Janice’s cancellation)? (Round down your answer to nearest whole number.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Each Tuesday, Ryan Airlines reduces its one-way ticket from Fort Wayne to Chicago from $125 to $25. To receive this special $25 price, the customer must buy a round up ticket. Ryan has a non refundable 26% penalty fare for cancellation; it estimates that about eight-tenths of 1% will cancel their reservations. The airline also estimates this special price will cause a passenger traffic increase from 500 to 700. Ryan expects revenue for the year to be 53.7% higher than the previous year. Last year, Ryan’s sales were $484,000. To receive the special rate, Janice Miller bought two round trip tickets. On other airlines, Janice has paid $99 round trip (with no cancellation penalty.)
a. Calculate the percent discount Ryan is offering. (Round to the nearest hundredth percent.)
b. Calculate the percent passenger travel will increase.
c. Calculate the sales for the new year.
d. Calculate Janice’s loss if she cancels one round-trip flight.
e. Approximately how many more cancellations can Ryan Airlines expect (after Janice’s cancellation)? (Round down your answer to nearest whole number.)
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