JetAirways flight from Philadelphia to Boston has 350 seats. The high fare on the flight is $780 and the…
JetAirways flight from Philadelphia to Boston has 350 seats. The high fare on the flight is $780 and the restricted/low fare is $500. There is ample demand for the low fare class but high fare demand is uncertain. Demand for the high fare is normally distributed with mean 150 and standard deviation of 45. Further, the customers buy low fare tickets well in advance of high fare customers.
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