Use the Information Below to Answer the Following Question(s)

question 19

Multiple Choice

Use the information below to answer the following question(s) . Below is a decision tree for the airline revenue management. Create a one-way table and answer the following questions.
-If the probability of selling the full-fare ticket is 0.80, what is the expected value of the ticket?

• A) $ 442.50
• B) $ 472.00
• C) $ 501.50
• D) $ 531.00

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Definitions:

Critical Thinking Skills

The ability to think clearly and rationally about what to do or what to believe, including the ability to engage in reflective and independent thinking, and to question assumptions and evidence critically.

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