Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A hotel which caters for airline passengers has 40 rooms. Because of possible cancellations, the hotel takes up to 45 reservations on any given day.

image text in transcribed
A hotel which caters for airline passengers has 40 rooms. Because of possible cancellations, the hotel takes up to 45 reservations on any given day. Analysis of past records indicate that the number of daily bookings varies from 36 to 45 with each value in this range having a probability of 0.1. The probability of cancellations is represented by the following distribution table. Develop a model, utilising Excel's RAND() function, to simulate a fortnight's data and hence find the average number of room bookings per night, and the percentage of nights when the hotel is overbooked

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

PostgreSQL Up And Running A Practical Guide To The Advanced Open Source Database

Authors: Regina Obe, Leo Hsu

3rd Edition

1491963417, 978-1491963418

More Books

Students also viewed these Databases questions

Question

Describe Table Structures in RDMSs.

Answered: 1 week ago