Jim Johnson operates a bus service to take college students to "The Big City" on Friday night and bring them back to school on Sunday night. The bus has 45 seats but sometimes there are empty seats. His records show that about 5% of ticket holders do not show up for their ride. Tickets cost $20 and are non-refundable. If Jim overbooks the bus and more than 45 passengers show up, some of them will be bumped and have to miss the trip. This bumping costs the company $40 because Jim has a double-your-money back policy for bumped passengers. Jim plans to accept 48 reservations (overbook 3 seats).
What is Jim Johnson's expected marginal profit?
Definitions:
RLC Parallel Circuit
An electrical circuit consisting of a resistor (R), inductor (L), and capacitor (C) connected in parallel.
Parallel Tank Circuit
A resonant circuit consisting of a capacitor and an inductor connected in parallel, used to select or filter specific frequencies.
Resonant Frequency
The frequency at which a system oscillates at its maximum amplitude.
Bandwidth
The range of frequencies within a given band, especially that used for transmitting a signal.
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