solve the binomial word problem in the photo ### Problem StatementThe aircraft for a particular flight has 72 seats. The airline's records show that historically for this flight, only 90% of the people who purchase a ticket arrive to board the flight. They assume this trend will continue and decide to sell extra tickets and hope that no more than 72 passengers will arrive. The number of passengers that arrive to board this flight is assumed to follow a binomial distribution with a probability of $0.9$. Each passenger pays $150 for a ticket. If too many passengers arrive, then the airline will give $300 in compensation to each passenger that cannot board.**Question:**Using binomial distribution, find, to the nearest integer, the expected increase or decrease in the money made by the airline if they decide to sell 74 tickets rather than 72.### Explanation of Concepts**Binomial Distribution:**A binomial distribution is a probability distribution that summarizes the likelihood that a value will take one of two independent states under a given number of parameters. It's defined by two parameters: the number of trials (n) and the probability of success (p).**Application to the Problem:**- Number of trials (n) = Number of tickets sold (considering scenarios with both 72 and 74 tickets).- Probability of success (p) = Probability that a given ticket holder arrives = 0.9.**Compensation Mechanism:**If the number of arriving passengers exceeds the number of seats (72), the airline must compensate the excess passengers at $300 per passenger.### Expected Monetary Calculation:**Revenue Calculation:**- Revenue for sold tickets = $ \text{Number of tickets sold} \times \$150 $**Compensation Cost Calculation:**- Cost for compensating passengers = $ (\text{Number of passengers arriving} - \text{Number of seats}) \times \$300 $**Expected Increase/Decrease in Revenue:**- Calculate the expected revenue and cost for both selling 72 and 74 tickets.- Subtract the total compensation cost incurred from the ticket sales revenue for both scenarios.- Determine the difference in net revenue between the two scenarios to find the expected increase or decrease.### Steps for Solution:1. Calculate the expected number of passengers arriving for each scenario (72 and 74 tickets sold) using the binomial distribution.2. Determine the compensation costs in scenarios where arrivals exceed the 72-seat capacity.3. Compute the net revenue

Number of passengers Probability of passengers who purchase a ticket and arrive to board the flight…

The aircraft for a particular flight has 72 seats. The airline's records show that historically for this flight only 90% of the people who purchase a ticket arrive to board the flight. They assume this trend will continue and decide to sell extra tickets and hope that no more than 72 passengers will arrive. The number of passengers that arrive to board this flight is assumed to follow a binomial distribution with a probability of ).9. Each passenger pays $150 for a ticket. If too many passengers arrive, then the airline will give $300 in compensation to each passenger that cannot board. using binomial distribution, find, to the nearest integer, the expected increase or decrease in the money made by the airline if they decide to sell 74 tickets rather than 72.