Airlines Often Sell More Tickets for a Flight Than There

question 58

Multiple Choice

Airlines often sell more tickets for a flight than there are seats because some ticket holders do not show up for the flight. Assume that an airplane has 170 seats for passengers and that the probability that a person holding a ticket appears for the flight is 0.93. If the airline sells 176 tickets, what is the probability that everyone who appears for the flight will get a seat?

• A)0.9625
• B)0.9515
• C)0.9778
• D)0.9608

Evaluate a firm's ability to meet short-term obligations and operate without additional cash inflows.

Understand the purpose and utility of financial classification systems like the NAICS.

Understand the purposes and applications of common financial ratios.

Interpret financial statements through common sized statements and ratio analysis.

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Definitions:

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