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QUESTION
A flight from New York to Atlanta has 146 seats. Advance tickets purchased cost $74. Last-minute tickets cost $114.
A flight from New York to Atlanta has 146 seats. Advance tickets purchasedcost $74. Last-minute tickets cost $114. Demand for full-fare tickets is normally distributed with a mean of 92 and standard deviation of 30. What booking limit maximizes expected revenues? Assume there are no no-shows and always enough advanced purchasers to fill the flight.
