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Q4 Hotel California has 160 rooms. The hotel has an ample low-fare demand at the room...

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General Management

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

Answer & Explanation Solved by verified expert
4.4 Ratings (716 Votes)
Booking limit is number of rooms that are available for thebooking to the lowfare customersProtection level Q is the number of rooms that are reservedfor the highfare customersBooking Limit Total number of rooms Protection LevelBooking Limit 160 QWe    See Answer
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