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2. Marcy Hotel is a boutique hotel in Boston downtown area. The operations manager, Jenna, needs your help to decide how many rooms [of a

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2. Marcy Hotel is a boutique hotel in Boston downtown area. The operations manager, Jenna, needs your help to decide how many rooms [of a particular type} to book for a day. The nightly stay in these rooms is $200 and the hotel has 100 of those rooms. The data shows that some customers do not show-up. To protect against no showups, Jenna is considering to book more than 100 rooms per night. Although this practice allows Jenna to utilize each room available as much as possible, it comes with a risk. The risk is that if Jenna books more than 100 rooms and if more customers than expected show-up, then some customers will not be able to stay at the hotel even though they made a reservation. To protect those customers, Marcy Hotel is providing a compensation of 120% of the booking price paid by the customer. Also, any no showup customer ls refunded 30% of the booking price paid by the customer. How many rooms should Jane book in a day to maximize its expected revenue. Answer this question by developing a simulation optimization model. In your model, assume that the number of noshows is lognormally distributed with a mean of [0.2*number of rooms booked} and standard deviation of {0.05*number of rooms booked}

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