A scalper is considering buying tickets for a particular game. The
price of the tickets is $75, and

Question

A scalper is considering buying tickets for a particular game. The
price of the tickets is $75, and the scalper will sell them at
$150. However, if she can't sell them at $150, she won't sell them
at all. Given that the demand for tickets is a binomial random
variable with parameters n=19 and p=0.5, how many tickets should
she buy in order to maximize her expected profit?
Answer:

flash243 · Answer

1) remember the formula i = (n+1)p
2) identify n and p (n is 19, the p is .5)
3) then just plug in the numbers
i = (n+1)p
i = (19+1).5
=10
Hope that helps!

Category:	Mathematics
Offered Price:	$0.99
Due Date:	19 November 2014, 18:00
Added:	17 November 2014, 23:15

Price:	0.50
Added:	17 November 2014, 23:15
Words:	35 words
Buyers:	1 buyer
Rating:

A scalper is considering buying tickets for a particular game. The price of the tickets is $75, and

Secure Payment

We let the professionals process your money

Have a similar question?