Question: distribution type 2 : uniform distribution u{50,100} please answer all the question Q2. Protection Level: Let's say you are the Hotel Manager of Hotel Holiday.
distribution type 2 : uniform distribution u{50,100}
Q2. Protection Level: Let's say you are the Hotel Manager of Hotel Holiday. You have 300 rooms in the hotel. A famous band is organizing a concert near your hotel. Music fans can either book the hotel in advance for a discounted price of $100/ night or wait until the last minute to book a room at a price of $300/ night. The demand is large enough that you can sell out all rooms at $100/ night. Answer the following questions based on the above info. 2A. What is the underage cost? What does this cost represent? (0.5+1.5pts) 2B. What is the overage cost? What does this cost represent? (0.5+1.5 pts) 2C. What is the critical ratio? What does critical ratio represent? (0.5+1.5pts) 2D. If demand of last-minute music fans is distributed as distribution type 1 , then how many rooms will you set aside for last-minute music fans? What is the Booking Limit for the discounted rooms? (2+1 pts ) 2E. If demand of last-minute music fans is distributed as distribution type 2 , then how many rooms will you set aside for last-minute music fans? What is the Booking Limit for the discounted rooms? (2+1 pts) 2F. If demand of last-minute music fans is distributed as distribution type 3 , then how many rooms will you set aside for last-minute music fans? What is the Booking Limit for the discounted rooms? (2+1 pts) Q2. Protection Level: Let's say you are the Hotel Manager of Hotel Holiday. You have 300 rooms in the hotel. A famous band is organizing a concert near your hotel. Music fans can either book the hotel in advance for a discounted price of $100/ night or wait until the last minute to book a room at a price of $300/ night. The demand is large enough that you can sell out all rooms at $100/ night. Answer the following questions based on the above info. 2A. What is the underage cost? What does this cost represent? (0.5+1.5pts) 2B. What is the overage cost? What does this cost represent? (0.5+1.5 pts) 2C. What is the critical ratio? What does critical ratio represent? (0.5+1.5pts) 2D. If demand of last-minute music fans is distributed as distribution type 1 , then how many rooms will you set aside for last-minute music fans? What is the Booking Limit for the discounted rooms? (2+1 pts ) 2E. If demand of last-minute music fans is distributed as distribution type 2 , then how many rooms will you set aside for last-minute music fans? What is the Booking Limit for the discounted rooms? (2+1 pts) 2F. If demand of last-minute music fans is distributed as distribution type 3 , then how many rooms will you set aside for last-minute music fans? What is the Booking Limit for the discounted rooms? (2+1 pts)
please answer all the question

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