Managrial Decision Making
Vinusha1- Find the probability that more than 16 passengers will arrive if Mockingbird sells 17 reservations (Res = 17). Do the same for 18 and 19.
2. Find: E(R1|Res 1⁄4 16)
E(C1|Res 1⁄4 16)
E(C2|Res 1⁄4 16)
Finally, calculate
E(Prof it|Res 1⁄4 16) 1⁄4 E|RjRes 1⁄4 16Þ
E(C1|Res 1⁄4 16) E|C2)Res 1⁄4 16)
3. Repeat Question 2 for 17, 18, and 19 reservations.What is your conclusion? Should Mockingbird overbook? By how much?
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