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To maximize profits, airlines often overbook their flights; because they know
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Airlines
To maximize profits, airlines often overbook their flights; because they know that not everyone who reserves a seat will show up. Airlines know that each passenger acts independently of one another, and the probability that someone who reserves a seat fails to turn up is in Oceanic Airlines always sells 10 tickets for their 9 seat aeroplane, while Belarus Airways always sells 20 tickets on their 18 seat aircraft. Which plane is more often overbooked?
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[Solved] To maximize profits, airlines often overbook their flights; because they know
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- Submitted On 23 Jul, 2020 07:23:25
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