subject
Business, 17.08.2020 01:01 livie225

Six months before its annual convention, the American Medical Association must determine how many rooms to reserve. At this time, the AMA can reserve rooms at a cost of $50 per room. All rooms that are reserved must be paid for even if they are not used. The AMA believes the number of doctors attending the convention will be normally distributed with a mean of 5000 and a standard deviation of 1000. If the number of people attending the convention exceeds the number of rooms reserved, extra rooms must be acquired at a cost of $80 per room. Use a simulation model to determine the expected cost of the rooms for the convention for the following reservation levels: 2000, 3000, 4000, 5000, 6000, 7000, and 8000. From the above list of reservation levels, select the optimal number of rooms to reserve. Use a simulation with 2000 replicates and answer the questions below: a) What is the optimal number of rooms to reserve

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 21:00
Sheldon has the following year-end account balances: accounts receivable, $5,000; supplies, $12,000; equipment, $18,000; accounts payable, $17,000; stockholders’ equity, $43,000. the cash account balance was not available at year-end. given the account balances listed, the balance in the cash account should be?
Answers: 2
question
Business, 21.06.2019 22:00
If a bond is issued at a premium the effective interest rate is most likely
Answers: 2
question
Business, 22.06.2019 05:00
The new york stock exchange is an example of what type of stock market?
Answers: 1
question
Business, 22.06.2019 11:00
What is the advantage of developing criteria for assessing the effectiveness of business products and processes? a. assessment criteria are answers. b.assessment criteria are inexpensive. c.assessment criteria provide you with a list of relevant things to measure. d.assessment criteria provide you with a list of people to contact to learn more about process mentoring.
Answers: 3
You know the right answer?
Six months before its annual convention, the American Medical Association must determine how many ro...
Questions
question
Mathematics, 23.03.2020 20:25
question
Mathematics, 23.03.2020 20:26
Questions on the website: 13722361