subject
Business, 19.05.2021 18:40 RickySpanish

The Inn at Penn hotel has 150 rooms with standard queen-size beds and two rates: a full price of $300 and a discount price of $120. To receive the discount price, a customer must purchase the room at least two weeks in advance (this helps to distinguish between leisure travelers, who tend to book early, and business travelers, who value the flexibility of booking late). For a particular Tuesday night, the hotel estimates that the demand from leisure travelers could fill the whole hotel with a normal distribution with a mean 1000 and a standard deviation of 100. Historically, the hotel estimates that the demand from business travelers is distributed normally with a mean of 70 rooms and a standard deviation of 29. a. The optimal booking limit for discount rooms is . (Hint: please round your answer to the nearest positive integer number. E. g., answers between 12345.01 and 12345.44 should be rounded down to 12345, and answers between 12345.45 and 12345.99 should be rounded up to 12346.) .
b. The Sheraton located nearby declared a fare war by slashing business travelers’ price to $150. The Inn at Penn had to match that fare to keep demand at the same level, so the optimal booking limit will . (Hint: please fill in the blank by one of the following three options:
increase, decrease, or remain the same)
c. The Sheraton declared a fare war by slashing business travelers’ prices down to $150. The Inn at Penn had to match that fare to keep demand at the same level. Does the optimal protection level increase, decrease, or remain the same? Explain your answer.
d. What number of rooms (on average) remain unfilled if we establish a protection level of 61 for the full-priced rooms?

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 19:20
You wish to buy a cabin in 15 years. today, the cabin costs $150,000. you believe the price of the cabin will inflate at 4% annually. you want to invest a single amount of money (lump sum) today and have the money grow to equal the future purchase price of the cabin 15 years from now. if you can earn 10% annually on your investments, how much do you need to invest now, in order to be able to purchase the cabin?
Answers: 3
question
Business, 21.06.2019 22:10
There are more than two types of bachelors’ degrees true or false?
Answers: 1
question
Business, 21.06.2019 22:30
Owning a word is a characteristic of a powerful a. productb. servicec. organization d. brand
Answers: 2
question
Business, 21.06.2019 23:00
You and your new australian bride matilda, are applying for a loan and are required to submit a balance sheet with your net worth. you own a 2008 toyota camry that you bought last month for $9,995. the kelly blue book value for this car is $13,995. you owe $8,150 on the car loan for the camry. you pay off your visa credit card every month and have not paid any credit card interest this year. the current visa credit card balance is $3,522, and the next statement is due in 15 days. you have a student loan balance of $6,500. you presently have $425 in your checking account and $1,540 in your savings account. you own 100 shares of ibm stock that you purchased for $85.50 per share. one share of ibm is now selling for $158.42. you own computers and other electronics that you purchased for $4,100 but could probably sell today on e-bay for $1,800. your gross income is $80,000 per year. what is your current net worth? (see wb ch. 2 example 2.3)
Answers: 1
You know the right answer?
The Inn at Penn hotel has 150 rooms with standard queen-size beds and two rates: a full price of $30...
Questions
question
Mathematics, 05.05.2020 20:11
question
Arts, 05.05.2020 20:11
question
Health, 05.05.2020 20:12
question
English, 05.05.2020 20:12
question
Biology, 05.05.2020 20:12
question
Health, 05.05.2020 20:12
question
Mathematics, 05.05.2020 20:12
Questions on the website: 13722363