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What You Should Do:

What You Should Do:. Facing Uncertainty (represented by X). For example, find the overbooking policy that maximizes your average profit per flight, as the no-show level varies from flight to flight. What i s Typically (Incorrectly) Done in Today’s World:.

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What You Should Do:

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  1. What You Should Do: Facing Uncertainty (represented by X) For example, find the overbooking policy that maximizes your average profit per flight, as the no-show level varies from flight to flight. What is Typically (Incorrectly) Done in Today’s World: This is equivalent to finding the overbooking policy that maximizes your profit from a flight with precisely E[X] (a pre-known, specific number of) no-shows.

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