Stats_overbooking_quiz TODO

• N is the number of tickets sold
  • False
• gamma is the pain factor or the probability of overbooking eg. $\gamma =P(s>N)$
  • True

Rearrange following:

$$f(n)=pbinom(N,n,p)-1+\gamma$$

Find n when f(n)=0?

AKA: If N = 300, p = 0.97, gamma = 0.75 how many tickets should the airline sell?

xx <- seq(300,320,by = 1)
indx <- which.min(f(xx))
xx[indx]
 
#-> 312
f <- function(x, N = 300, p = 0.97, g = 0.75){  
  obj <- pbinom(N, x,p) -1 +g  
  abs(obj)  
}