Suppose that past experience shows that about 12% of passengers who are scheduled to take a particular flight fail to show up. For this reason, airlines sometimes overbook flights, selling more tickets than they have seats, with the expectation that they will have some no shows. Suppose an airline uses a small jet with seating for 30 passengers on a regional route and assume that passengers are independent of each other in whether they show up for the flight. Suppose that the airline consistently sells 32 tickets for every one of these flights.

Required:
a. What is the probability of having overbooked flight?
b. What is the expected amount of cost to compensate the overbooked flight?

Alex is a working professional and has managed to save a small amount of money from his earnings. he wants to invest in something that is customized to his risk appetite. which financial institution should he choose? a. hedge funds b. mutual funds c. life insurance companies d. credit unions e. pension funds

1. all other things equal, according to the law of demand, when the price of a good falls, the demand for the good falls the demand for the good rises the quantity demanded of the good falls the quantity demanded of the good rises 2. when a market is in equilibrium, the quantity of the good that buyers are willing and able to buy exactly equals the quantity that sellers are willing and able to sell cannot be determined is less than the quantity that sellers are willing and able to sell is greater than the quantity that sellers are willing and able to sell 3. which of the following factors does not influence the demand for a good or service? consumer (buyer) income the price of related goods the number of sellers buyer expectations 4. when the number of sellers in a market increases, demand rises supply rises the price rises, all else equal the number of buyers falls

Oliver's company is planning the launch of their hybrid cars. the company has included "never-before-seen" product benefits in the hybrid cars. which type of advertising should oliver's company use for the new cars?