Probability of overbooking airplane

Reference no: EM1399950

A Boeing 767-300 has 213 seats. When someone buys a ticket for a flight, there is a 0.0995 chance that the person will not show up for the flight (based on data from an IBM research paper by Lawrence, Hong, and Cherrier). A ticket agent accepts 236 reservations for a flight that uses a Boeing 767-300. Find the probability that not enough seats will be available. Is this probability low enough so that overbooking is not a real concern?

Reference no: EM1399950

Questions Cloud

Comparing two competitor strategies : As the industry watches to see how United Airlines' strategy performs against American Airlines' strategy, management at United Airlines is anxiously monitoring market signs to determine its next competitive move.

Election-day polls are taken from voting precincts : Election-day polls are taken from voting precincts selected because they are believed to be representative of all voters.

Explain attitude toward writers and writing : The writer in you - Explain your attitude toward writers and writing and/or what you have learned about writing process from this study guide.

Expected payoff-slot machine : A standard slot machine has three reels. The first reel has 3 walnuts, 7 cherries, 3 oranges, 5 lemons, 1 bell, and 1 jackpot bar. The second reel has 7 cherries, 6 oranges, 1 lemon, 3 bells, and 3 bars. The third reel has 4 walnuts, 7 oranges, 5 ..

Probability of overbooking airplane : Find the probability that not enough seats will be available. Is this probability low enough so that overbooking is not a real concern?

Probability of weight of quarter : Currently, quarters have weights that are normally distributed with a mean of 5.670 g and a standard deviation of 0.062 g. A vending machine is configured to accept only those quarters with weights between 5.550 g and 5.790 g.

Probability of error in the transmission of a binary digit : The probability of error in the transmission of a binary digit over a communication [2] channel is 1=103. Write an expression for the exact probability of more than 3 errors when transmitting a block of 103 bits. What is its approximate value? Ass..

Explain how to reasoned access to company resources : Given home computers and access to company resources, employees will work extra hours at home and thereby increase company profits." Explain how well reasoned etc.

Proportion and probability of household incomes : According to the U.S. Census Bureau, the mean household income in the United States in 2000 was $63,091 and the median household income was $50,054.

User Account

All Pages