Question: The spreadsheet model below predicts how much profit a hotel will make for 'overbooking' its rooms. Specifically the hotel has 220 rooms available, but it

The spreadsheet model below predicts how much profit a hotel will make for 'overbooking' its rooms. Specifically the hotel has 220 rooms available, but it is considering accepting more than 220 reservations (the spreadsheet below starts out with 250) in hopes that, after some customers cancel, they will still have enough guests to fill all rooms. The 'Model' calculates how many cancellations the hotel will have, much much the hotel will make from the guests that show up, and how much it must pay overbooked guests to re-accommodate them (based on a cost of $125 per person). Ideally, the hotel would book just enough reservations that, after some people cancel, exactly 220 show up (enough to fill all the rooms, without having to pay to re-accommodate any overbooked guests). Instructions: Fill in the blank cells (E7, E8, and H4) in the model below. Then, create a two-way data table that shows the hotel's profit for all combinations of the following values: - Number of Bookings: 220, 230, 240, 250, 260, 270 - organize these values in a column on the left of the Data Table. Cancellation Rate: 5%, 10%, 15%-organize these values in a row at the top of the Data Table. Copy and paste the profit values from your data table into the table on sheet "Q3 Responses." You can use the table on "Q3 Responses" as a template for your data table, if you want
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