Q4 Hotel California has 160 rooms. The hotel has an amplelow-fare demand at the room rate of $200 per night, but the demandfrom the high-fare class which pays $450 per night on average, isuncertain. Table below shows the number of high-fare rooms thatwere booked during the past 30 days. How many rooms should HotelCalifornia protect for high-fare customers to maximize its expectedrevenue? (6 points)
Number of high-fare rooms | Frequency |
0 | 5 |
1 | 3 |
2 | 6 |
3 | 8 |
4 | 4 |
5 | 1 |
6 | 1 |
7 | 2 |
| Total=30 |
