135k views
3 votes
please do the airplane booking problem with a high fare of $764 and low fare of $187. the business traveler demand is given by n(mu

1 Answer

4 votes

Final answer:

To solve the airplane booking problem with high and low fares, substitute the fare values into the demand function n(x) = mu^x. Evaluate n(764) and n(187) to find the demand at high and low fares.

Step-by-step explanation:

When solving the airplane booking problem, we need to consider the high fare and low fare given. Let's assume the demand for business travelers is given by the function n(x) = mu^x, where x represents the fare and mu represents the demand parameter.

To find the demand at the high fare ($764), we substitute x = 764 into the demand function: n(764) = mu^764.

Similarly, to find the demand at the low fare ($187), we substitute x = 187 into the demand function: n(187) = mu^187.

By finding the values of n(764) and n(187), we can determine the demand for business travelers at the high and low fares.

User Scott Lerch
by
8.2k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.