The Problem:
A tour operator organises a trip to Las Vegas. The tour operator knows that the probability of people withdrawing is 0.08 (independent event) so accepts 22 bookings even though only 20 tickets are available. What is the probability he will be able to provide tickets to everyone who goes on tour?
My logic:
I would approach this problem using binomial distribution because we have an independent event, the probability is constant and the number of trials is constant as well. I would say that n = 22, p= 0.08 so we work out the probability that x is [I don't know]?
Answer:
= 0.5384
Could someone tell me the values of n, p and the probability of x that I need to work out?