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In: Statistics and Probability

An airline pricing analyst has been asked to review a struggling airline’s flights. She has determined...

An airline pricing analyst has been asked to review a struggling airline’s flights. She has determined that 60% of all flights are profitable to the company after paying pilot, flight attendants, food, fuel, operations costs, etc. When seat utilization of a flight meets the industry average, the flight is profitable 80% of the time. The probability of a flight being profitable and not meeting the seat utilization industry average is 20%. What is the probability that a flight meets the industry average for seat utilization and is not profitable?

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orchestra answered 2 years ago
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