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An analysis of binomial distribution and normal distribution using numerical data. The document calculates the mean, variance, standard deviation, and probabilities of different outcomes for both distributions. It also compares the results of normal distribution without correction and with correction.
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r NcR P^r
Part b r NcR P^r
X Y X*Y revenue Last Min Customers Probability EV 0 0,45 0 1425 1 0,3 0,3 490 2 0,15 0,3 552, 3 0,1 0,3 615
a 750
Case 1 all three released now and no last minute customer. Assumption: All three ticket that w
revenue 750
Case 2 All three released and 1 last minute customer
Revenue 600
Case 3 All three released and 2 last min customer Revenue 450
Case 4 All three released and 3 last min customers Revenue 300
c 2 released 1 reserved
642,5 0,6666666667 642,5 - d released reserved opportunity cost 0 3 0 0 1 2 150 385 2 1 300 492, 3 0 450 300
All three ticket that were released are sold