Managrial Decision Making

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?