The Marriott Hotel in Central has 100 rooms available for Dec 31. There are two types of customers, business customers a

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

The Marriott Hotel in Central has 100 rooms available for Dec 31. There are two types of customers, business customers a

Post by answerhappygod »

The Marriott Hotel in Central has 100 rooms available for Dec
31. There are two types of customers, business customers and
leisure customers. Marriot charges a high rate of $250/night and a
low rate of $120/night. High-rate guests do not need pre-booking
and has time flexibility; low-rate guests need pre-booking. Assume
business customers always take the high rate option and leisure
customers always take the low rate option. Leisure customers always
book far earlier before business customers and there are sufficient
leisure customers. The total number of business customers is
uncertain and its demand distribution is given in the following
table:
Number of business customers
Probability
56
0.06
57
0.08
58
0.19
59
0.21
60
0.2
61
0.16
62
0.07
63
0.03
Based on the optimal protection level for business customers,
the probability that there is no available room for one or more
business customers is:
Group of answer choices
60%
26%
76%
40%
46%
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Post Reply