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A hotel has 50 luxury rooms and 250 regular rooms. On a given night, the demand for luxury rooms is Poisson distributed with mean 45,
A hotel has 50 "luxury" rooms and 250 "regular" rooms. On a given night, the demand for luxury rooms is Poisson distributed with mean 45, and the demand for regular rooms is Poisson distributed with mean 270. If the demand for regular rooms exceeds 250, each person who wants a regular room but can't get one is willing, with probability 0.3, to upgrade to a luxury room if any luxury rooms are still available. After running a simulation with at least 5,000 replications, what is the most realistic conclusion about the probability that all 300 rooms will be occupied? a. This probability is around 0.21. b. This probability is around 0.54. c. This probability is around 0.32. d. This probability is around 0.68
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