Overbooking—what does it mean and why? View a video that explains the intentions of the term and why businesses use it. The speaker walks through the math associated with the strategies with overbooking, helping class members fully grasp the concept.

Concepts

binomial distribution, probability, revenue, business ethics

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Additional Tags

math

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Instructional Ideas

• Flip the lesson and have learners watch the video and take the quiz outside of class so they are prepared to discuss and research the topic further

Classroom Considerations

• Best suited for an Algebra, economics, or business-related class
• Assumes class members are familiar with probability and distributions
• Consider writing on the board the formulas presented in the video to make sure viewers actually understand what the narrator is explaining
• Calculators would be helpful to use along with the video

Pros

• Along with the video, the link comes with a quiz, discussion questions, and links for researching and expanding on the topic
• Shows the math formulas with finding the probability with overbooking

Cons

• None