A ticket from Indianapolis to Orlando on DeleastAirlines sells for $150. The plane can hold 100 people. Itcosts $8,000 to fly an empty plane. The airline incurs variablecosts of $30 (food and fuel) for each person on the plane.If the flight is overbooked, anyone who cannot get a seatreceives $300 in compensation. On the average, 95% of allpeople who have a reservation show up for the flight. Tomaximize expected profit, how many reservations for theflight should be taken by Deleast? (Hint: The @Riskfunction RISKBINOMIAL can be used to simulate thenumber of passengers who show up. If the number ofreservations taken is in cell A2, then the formulaRISKBINOMIAL(A2,.95)will generate the number of customers who actually showup for a flight!)

A ticket from Indianapolis to Orlando on DeleastAirlines sells for $150. The plane can hold 100 people. Itcosts $8,000 to fly an empty plane. The airline incurs variablecosts of $30 (food and fuel) for each person on the plane.If the flight is overbooked, anyone who cannot get a seatreceives $300 in compensation. On the average, 95% of allpeople who have a reservation show up for the flight. Tomaximize expected profit, how many reservations for theflight should be taken by Deleast? (Hint: The @Riskfunction RISKBINOMIAL can be used to simulate thenumber of passengers who show up. If the number ofreservations taken is in cell A2, then the formulaRISKBINOMIAL(A2,.95)will generate the number of customers who actually showup for a flight!)

Operations Research : Applications and Algorithms

4th Edition

ISBN:9780534380588

Author:Wayne L. Winston

Publisher:Wayne L. Winston

Chapter8: Network Models

Section8.5: Minimum-cost Network Flow Problems

Problem 8P

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