Course Solutions Uncategorized (Solved) : Airline Selling Tickets Aud100 Plane 6 Seats Ticket Holder Independently Probability 015 T Q29649471 . . . .

(Solved) : Airline Selling Tickets Aud100 Plane 6 Seats Ticket Holder Independently Probability 015 T Q29649471 . . . .

 

An airline is selling tickets for AUD100 for a plane with 6 seats. Each ticket holder independently has the probability of 0.15 of not turning up to the flight - in which case the airline keeps the AUD100 for the ticket. Suppose 7 people want tickets. The airline has a choice of two strategies: . X: sell 6 tickets Y: sell 7 tickets, but if everyone turns up the airline has to pay AUD300 in compensation Let X and Y be the random variables denoting the money made by following strategy X and Y respectively TRUE or FALSE: E(Y)>E(X)? Select one ?True False

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