Question: 5. In the Marquis Hotel problem in Example 16.2, suppose that the hotel is considering adding suites to its room mix. Based on an analysis

5. In the Marquis Hotel problem in Example 16.2, suppose that the hotel is considering adding suites to its room mix. Based on an analysis of local competitors, suites can sell for a rate of $180, and they expect to sell 20 per day to business travelers. The price elasticity of demand is estimated to be –2.5. The hotel would want to keep the price of suites between $150 and $200. Modify the spreadsheet to include suites and find prices that will maximize total revenue.

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