PackRat Outdoors owns three sports centers in downtown Highfill. On Easter Day, bicycle riding is a desirable
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PackRat Outdoors owns three sports centers in downtown Highfill. On Easter Day, bicycle riding is a desirable outdoors activity. A total of eight rental bikes is to be allocated to the three centers with the objective of maximizing expected revenue. The demand for the bikes and the hourly rental cost to customers vary by location per the following table:
How should PackRat allocate the eight bikes to the three centers?
Transcribed Image Text:
No. of bikes 0 1 2 345678 5 Rental cost/hr ($) Center 1 .1 .2 .3 .2 .1 .1 Probability of demand 0 0 0 6 Center 2 .02 .03 .10 .25 .30 .15 .05 .05 .05 7 Center 3 0 .15 .25 .30 .15 .10 .025 .025 0 5
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Stage i center i Alternative y i nbr bikes assigned to center i State x i nbr bikes as...View the full answer
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