Overbooking. A fancy Swiss restaurant has 30 tables. If it accepts N reservations, the probability t
Question: Overbooking. A fancy Swiss restaurant has 30 tables. If it accepts N reservations, the probability that N will arrive is 0.1; N-1 is 0.2; N-2 is 0.3; and N-3 is 0.4. If each unfilled table costs F20 (Swiss francs) but a customer turned away costs F10, find how many reservations to accept. Solve again, assuming that a customer turned away costs F25.
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Deliverables: Word Document![](/images/msword.png)
Deliverables: Word Document
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