Question: Pls use excel, and explain each step on how to use excel to solve this problem. Also provided a table below to show how to
Pls use excel, and explain each step on how to use excel to solve this problem. Also provided a table below to show how to set up what i need on excel thank you God bless
tablePrice,Quantity Sold,Occupancy,Demand,Revenue,CapacityMondayTuesdayWednesdayThursdayFridaySaturdaySundayFSASUTotalOccupancy ra
Class Problem for Network Management
The Hotel Deluxe has rooms and offers a fixed daily rate of $ good for any night of the week. That price, current average demands, and estimated demand curves for the various days of the week are reflected in the following table:
tableDayPrice,tableAverageDemandApproximate Demand CurveMonday$Quantity PriceTuesday$Quantity PriceWednesday$Quantity PriceThursday$Quantity PriceFriday$Quantity PriceSaturday$Quantity PriceSunday$Quantity Price
As you can see from this table, the hotel typically fills up on Wednesday and Thursday nights under the current pricing policy, and some demand is typically turned away on those nights as well, whereas there are typically rooms left empty on other nights, and the average occupancy rate is only on Saturdays. The overall average occupancy rate is about Remember that some demand is turned away on Wednesdays and Thursdays.
Not surprisingly, management has ordered a comprehensive review of the current pricing policy, including the introduction of a weekend dClass Problem for Network Management
The Hotel Deluxe has rooms and offers a fixed daily rate of $ good for any night of the week. That price, current average demands, and estimated demand curves for the various days of the week are reflected in the following table:
tableDayPrice,tableAverageDemandApproximate Demand CurveMonday$Quantity PriceTuesday$Quantity PriceWednesday$Quantity PriceThursday$Quantity PriceFriday$Quantity PriceSaturday$Quantity PriceSunday$Quantity Price
As you can see from this table, the hotel typically fills up on Wednesday and Thursday nights under the current pricing policy, and some demand is typically turned away on those nights as well, whereas there are typically rooms left empty on other nights, and the average occupancy rate is only on Saturdays. The overall average occupancy rate is about Remember that some demand is turned away on Wednesdays and Thursdays.
Not surprisingly, management has ordered a comprehensive review of the current pricing policy, including the introduction of a weekend discount rate for patrons staying three nights Friday through Sunday The hotel will therefore offer eight distinct "products" for any given week seven onenight products, and one threenight product. Market demand for the new multinight product has been estimated as follows:
Weekend Discount Package
Quantity Price
a If obliged to charge a common rate for all oneday stays, regardless of the specific day of the week, but free to offer lower average daily rates for the multiday package, what prices do you recommend?
b If you are free to charge different rates for oneday stays on different days of the week that is if the prohibition against variable pricing is lifted now what prices do you recommend? How much does the lifting of the prohibition increase average weekly revenue?
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