south central airlines operates a commuter flight ………………………………………

| August 30, 2017

Question
south central airlines operates a commuter flight ………………………………………

Topic is Simulation

Develop a spreadsheet simulation model for this overbooking system. Simulate the number of passengers showing up for a flight.

a. What is the average net profit for each flight with the overbooking strategy?

b. What is the probability that the net profit with the overbooking strategy will be less than the net profit without overbooking (50*$100 5 $5,000)?

c. Explain how your simulation model could be used to evaluate other overbooking levels such as 51, 53, and 54 and for recommending a best overbooking strategy.

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