Question: Problem 1 (2 pts) A hotel numbers its fare classes from higher to lower as 1, 2, 3 and 4 . The room prices for

 Problem 1 (2 pts) A hotel numbers its fare classes from

Problem 1 (2 pts) A hotel numbers its fare classes from higher to lower as 1, 2, 3 and 4 . The room prices for these classes are p1=$300,p2=$250,p3=$200,p4=$150. The demands for these fare classes are denoted by D1,D2,D3 and D4. The hotel considers the cumulative demands D1=D1,D1,2=D1+D2,D1,2,3=D1+D2+D2,D1,2,1,4=D1+D2+D3+D4 These demands turn out to have uniform distributions with the following ranges: D1[0,10],D1,2[0,20],D1,2,3[0,30],D1,2,1,4[0,40]. a) (0,4 pts) Before applying EMSR-b heuristic, the hotel needs aggregate prices p1,p1,2,p1,2,3 and p1,2,3,4. Compute these prices. b) (0.4 pts) What is the protection level y3 for classes {1,2,3} ? c) (0.4 pts) What is the protection level y2 for classes {1,2} ? d) (0.4 pts) What is the protection level y1 for class \{1\}? e) (0.4 pts) How does protection level y3 change when p3 reduces to $160

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!