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sec63 - Math 2311 Class Notes for Section 6.3 6.3...

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Math 2311 Class Notes for Section 6.3 6.3 – Simulating Experiments Simulation is the imitation of a chance behavior based on a model that reflects an experiment. Examples: 1. Mudlark Airlines has a 15-seater commuter turboprop that is used for short flights. Their data suggest that on average about 8% of the customers who buy tickets are no-shows. Wanting to avoid empty seats (they see this as missed opportunity to increase revenue), they decide to sell 17 tickets for each flight. Ticketed customers who cannot be seated on the plane will be accommodated on another flight and will receive a certificate good for a free flight at another time. You have been retained as a consultant to Mudlark. Your job is to determine if this particular overbooking is sound strategy.
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