Homework Answers
Ans:
a)Probability of show up=1-0.2=0.8
Expected number of customers that will show up=20*0.8=16
b)use binomial distribution with n=20 and p=0.8
P(run out of rooms)=P(x>16)=1-P(x<=16)
=1-binomdist(16,20,0.8,true)
=0.4114
Expected value of compensation=0.4114*100=41.14
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