Question: A hotel numbers its fare classes from higher to lower as 1,2,3, and 4. The room prices for these classes are p1=$250,p2=$200,p3=$150, and p4=$100. The
A hotel numbers its fare classes from higher to lower as 1,2,3, and 4. The room prices for these classes are p1=$250,p2=$200,p3=$150, and p4=$100. The demands for these fare classes are denoted by D1, D2, D3, and D4. These demands turn out to have normal distributions with the following means and variances: D1N(5,2),D2N(5,2),D3N(5,2),D4N(5,2). a) Use EMSR-a heuristic to find the protection level y3 for classes {1,2,3} ? b) Use EMSR-a heuristic to find the protection level y2 for classes {1,2} ? c) Use EMSR-a heuristic to find the protection level y1 for class [1]? d) What is the protection level y4 for classes {1,2,3,4}
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