I need help modeling this in excel, so that I may run a simulation using the Analytic Solver Platform.

Bed Bug Beach-House, a small hotel on the Atlantic coast, has 50 rooms that rent for $105 per night and cost $40 to clean and prepare each night they are used. All rentals are by reservation and there is a 12 percent chance that an individual reservation will not show up. If a customer arrives at the hotel with a reservation and there is no room available due to overbooking, the hotel will pay on average $150 to put the customer up at another hotel. BBB would like to determine its optimal booking limit, including the number of rooms reserved for each night in excess of capacity. Company policy does not permit booking more than 75 customers. BBBs objective is to maximize expected profits.

a. What is the expected profit with a booking limit of 50?

b. What is the precise optimal booking limit and expected profit? (fractional answers are acceptable)

c. Using the optimal booking limit, what is the expected number of customers turned away?

d. Verify the answer you found for part (b) using sensitivity analysis. Graph the results and display.