Business, 11.03.2020 04:35 imelda249

A small airline, Ivy Air, flies between three cities: Ithaca (a small town in upstate New York), Newark (an eyesore in beautiful New Jersey), and Boston (a yuppie town in Massachusetts). They offer several flights but, for this problem, let us focus on the Friday afternoon flight that departs from Ithaca, stops in Newark, and continues to Boston. There are three types of passengers:(a) Those traveling from Ithaca to Newark (god only knows why).(b) Those traveling from Newark to Boston (a very good idea).(c) Those traveling from Ithaca to Boston (it depends on who you know).The aircraft is a small commuter plane that seats 30 passengers. The airline offers three fare classes:(a) Y class: full coach.(b) B class: nonrefundable.(c) M class: nonrefundable, 3-week advanced purchase. Ticket prices, which are largely determined by external influences (i. e., competitors), have been set and advertised as follows: Ithaca-Newark Newark-Boston Ithaca-BostonY 300 160 360B 220 130 280M 100 80 140Based on past experience, demand forecasters at Ivy Air have determined the following upper bounds on the number of potential customers in each of the 9 possible origin-destination/fare class combinations: Ithaca-Newark Newark-Boston Ithaca-BostonY 4 8 3B 8 13 10M 22 20 18The goal is to decide how many tickets from each of the 9 origin/ destination/ fare-class combinations to sell. The constraints are that the place cannot be overbooked on either the two legs of the flight and that the number of tickets made available cannot exceed the forecasted maximum demand. The objective is to maximize the revenue. Formulate this problem as a linear programming problem.

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A small airline, Ivy Air, flies between three cities: Ithaca (a small town in upstate New York), New...